Western Digital 2Q earnings rise |
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Published
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Thu, 25 Jan 2007 23:46
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LAKE FOREST, Calif. (AFX) - Hard disk drive maker Western Digital Corp. said its fiscal second-quarter profit rose 23 percent, as the company tapped into new markets and shipped more mobile drives.Earnings for the quarter ended Dec. 29 increased to $128 million, or 57 cents per share, from $104 million, or 47 cents per share during the same period a year earlier.Analysts polled by Thomson Financial forecast a profit of 53 cents per share.Revenue grew to $1.43 billion from $1.11 billion a year earlier. Analysts forecast revenue of $1.37 billion.Western Digital said 42 percent of its revenue in the period came from newer market sources, while 58 percent came from hard drives configured into desktop personal computers. In the year-ago quarter, 26 percent of its revenue in the quarter came from newer markets.Shipments of 2.5-inch mobile drives and 3.5-inch units for the PVR/DVR market also increased significantly, the company said.Shares of Western Digital fell 3 cents to close at $20.80 on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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