Western Digital Reports Another Quarterly Record

Computer disk drive maker Western Digital Corp. put together another record performance in the fiscal third quarter.

The company reported Thursday that net income for the three months ended March 29 surged to to $82.6 million, or $1.76 a share, from $19.4 million, or 42 cents a share, for the third quarter a year earlier. Revenue grew 51% to $1.1 billion from $728 million.

The company, which has become one of the most efficient disk drive manufacturers in the industry, also posted record earnings for the second quarter.

For the first nine months, Western Digital earned $179.7 million, or $3.81 a share. A year ago, net income totaled $64.2 million, or $1.31 a share, which included a one-time, pretax gain of $17.3 million from the sale of the company’s multimedia products unit. Revenue increased 55% to $3.1 billion from $2 billion.

Despite the hefty gains, the company’s stock slipped $2.50 per share to $65.875 Thursday on the New York Stock Exchange.

Luther Medical Products Inc.: The Tustin designer and manufacturer of intravenous catheter systems reported a profit of $32,460, or 1 cent a share, for the third quarter, which included a one-time expense of $17,000. A year ago, the company posted a net loss of $81,651, or 3 cents a share. Revenue for the quarter ended March 31 increased 25% to $1.5 million from $1.2 million. A net loss of $598,170, or 18 cents a share, was posted for the nine months, compared with a net loss of $386,576, or 13 cents a share, for the year-earlier period. Revenue was up 44% to $3.9 million from $2.7 million.