Western Digital alters profit report
From Times Wire Services
Western Digital Corp., a maker of computer hard-disk drives, said fourth-quarter profit was less than first reported because of a tax accounting error.
Net income was $212 million, or 94 cents a share, not the previously reported $233 million, or $1.03, the Lake Forest-based company said. Operating income for the period ended June 29 was unchanged.
A tax benefit of $126 million was incorrectly recorded as $147 million, the company said.
The company also revised its fiscal 2007 profit. Net income for the year was $564 million, or $2.50 a share. Western Digital had reported earnings of $585 million, or $2.59.
