Western Digital earnings double
From Times Staff and Wire Reports
Western Digital Corp. said fiscal third-quarter profit more than doubled on surging sales of high-capacity drives for notebook computers.
Net income for the quarter that ended March 28 climbed to $280 million, or $1.23 a share, from $121 million, or 53 cents, a year earlier, the Lake Forest-based company said. Sales rose 50% to $2.11 billion, beating analysts’ estimates.
Western Digital introduced notebook drives with capacities as large as 320 gigabytes in October, beating Seagate Technology, which plans to introduce similar products widely in June.
Western Digital shares fell 25 cents to $31 in extended trading after closing at $31.25 before the earnings news.
