Western Digital Reports Record Revenues, Earnings
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Western Digital Corp., which last week predicted it would outperform analysts’ expectations for its fiscal 1987 first quarter, Thursday reported record revenues and net earnings for the three months ended Sept. 27.
The Irvine electronics manufacturer said net earnings for the first quarter climbed 183% to $8.5 million, from $3 million for the same period last year. Revenues increased 33% to $83.7 million from $62.9 million.
The quarterly earnings not only exceeded Wall Street estimates, but were well above the $7.8 million that Roger Johnson, Western Digital’s president, chairman and chief executive officer, had estimated in an interview a week ago.
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