Western Digital(WD) has reported net revenue of $2.64bn for the third quarter of fiscal 2010, an increase of 66% compared to $1.59bn for the same period a year ago.
The company posted a gross margin of $665m, an increase of 163% from $253m in the quarter ended March 27,2009. Its operating income for the quarter surged to $441m, from $61m for the same quarter previous year.
For the quarter ended April 2, 2010, the company reported a net income of $400m, compared to $50m of the third quarter of 2009. Diluted income per hare increased to $1.71 from $0.22 a year ago.
The company generated $588m in cash from operations during the third quarter, ending with total cash and cash equivalents of $2.8bn. Its hard drive shipments totaled 51.1 million units, an increase of 62% from year-ago quarter.
John Coyne, president and chief executive officer of Western Digital, said: With market demand stronger than anticipated in the March quarter, our large-scale vertical integration, agile business model and product breadth allowed us to respond to this upside opportunity and again grow our share of the overall hard drive market.
We believe that 2010 will continue to be a strong year for digital storage. We will maintain our focus on facilitating our customers’ growth and making them successful while at the same time achieving sustained profitability for WD.
