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TECH INDUSTRY NEWS
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Western Digital revenue jumps more than 60 percent

The company’s net income is up 700 percent over the same time last year.

By Ashly McGlonePublished: April 25, 2010 08:15 AM

Lake Forest-based hard-drive manufacturer Western Digital has reported a quarter-over-quarter revenue increase of more than 60 percent for the period ending April 2.

The company’s net income is up a staggering 700 percent, coming in at $400 million, compared to the same quarter last year. Revenue is up nearly 63 percent at $2.6 billion, while hard-drive shipments are up nearly 62 percent at 51.1 million units.

Shares are up to $1.71 per share from 22 cents last year.

"We believe that 2010 will continue to be a strong year for digital storage," said Western President and CEO John Coyne. "We will maintain our focus on facilitating our customers' growth and making them successful while at the same time achieving sustained profitability."

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