Western Digital Corp today reported impressive financial results for the fiscal year, showing a growth in revenue of 32 percent and an increased operating income of 194 percent year-on-year.
For the quarter, Western Digital’s revenue totaled $2.4 billion from the shipment of 49.7 million hard drives and the company had a net income of $265 million. This puts them up quite a bit over the last year, when the company posted $1.9 billion revenue, shipped 40 million hard drives and reported a net income and earnings of $196 million. An increase in 9.7 million units sold in a year is quite impressive.
For the fiscal year the company has posted revenue of $9.8 billion and net income of 1.4 billion, which is also up substantially over the last fiscal year.
"Despite softer than anticipated June quarter demand, fiscal year 2010 was another year of significant growth and profitability for Western Digital," said John Coyne, president and chief executive officer. "The long-term demand for low-cost, high-volume storage driven by the proliferation of data and content-hungry consumer and commercial devices remains strong. With our focus on customer needs, quality, low cost, and high asset efficiency in the highest growth markets, we believe WD is well positioned to continue to generate growth on a sustained and profitable basis."
Showing such strong earnings during a time when many of the world’s economies are in a recession is no small feat for Western Digital.