It's a apparently a good time to be in the HDD business. Just as strong hard drive sales helped Seagate post healthy revenue numbers, the same holds true for Western Digital, which reported revenue of $2.6 billion for its second fiscal quarter ended January 1, 2010.
"We are very pleased with WD's strong financial performance in our second fiscal quarter," said John Coyne, president and chief executive officer. "For the third consecutive quarter, we increased output in a supply constrained environment, providing strong support of our customers' growth opportunities, primarily in the consumer segment but, notably, with some emerging strength in the commercial sector."
WD said it shipped 49.5 million hard drives during its fiscal second quarter, which helped result in net income of $429 million, or $1.85 per share. The company also generated a record $557 million in cash from operations, ending with total cash and cash equivalents of $2.4 billion, WD said.