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July 22, 2010

Western Digital Q4 revenue up 21% to $2.3bn

Operating income grew 40% to $293m in Q4 2010

By CBR Staff Writer

Western Digital (WD) has reported net revenue of $2.38bn for the fourth quarter of fiscal 2010, an increase of 21% compared to $1.92bn for the same period a year ago.

The company posted an operating income of $293m for the fourth quarter of 2010, an increase of 40% compared to $209m for the same quarter last year. For the fourth quarter ended July 2, 2010, the company posted a net income of $265m.

For fiscal year 2010, the company reported net revenue of $9.85bn, an increase of 32% compared to net revenue of $7.45bn in 2009. Operating income increased to $1.5bn from $519m in 2009.

Net income in 2010 was $1.3bn, or $5.93 per dilute share, compared to a net income of $470m, or $2.08 per dilute share in 2009.

John Coyne, president and CEO of Western Digital, said: "Despite softer than anticipated June quarter demand, fiscal year 2010 was another year of significant growth and profitability for Western Digital.

"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.

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"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."

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