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WD Revenue Rises To $2.4B

10/19/2010 04:31:00 PM Eastern

Lake Forest,
Calif. - Western Digital reported revenue of $2.4 billion for its fiscal first
quarter, ended Oct. 1.

This compares with
revenue of $2.2 billion in the prior-year period. 

Net income was
$197 million, compared to $288 million in the prior-year period.

Hard-drive unit
shipments were 50.7 million, up from 44.1 million during the year-ago quarter.

"In a quarter
characterized by aggressive industry pricing, we remained solidly profitable,
grew revenues and unit shipments year over year, and generated $390 million in
cash from operations," president/CEO John Coyne said in a statement. "Our
low-cost business model and strong balance sheet enable us to weather the
seasonality and cycles of the hard drive industry such as we experienced during
the last two quarters."