Western Digital Announces 48 Percent Increase in Revenues


Despite falling hard drive prices, a weakened dollar, and other economic woes, Western Digital managed to post revenue of $8.1 billion and an operating income of $1.0 billion for fiscal year 2008. That represents a full-year revenue increase of 48 percent. It gets even better for the hard drive maker, who also posted a net income of $867 million, or $3.84 per share, marking a whopping 54 percent jump from one year ago.

In the report, Western Digital says that 63 percent of Q4 revenue came from non-desktop sources, while 37 percent came from hard drives configured into desktop PCs. By contrast, those numbers sat at 46 and 54 percent respectively one year ago.

"Fiscal 2008 was an outstanding year for WD, capped off with the strong fourth-quarter financial performance," said John Coyne, president and CEO. "Our outstanding financial performance demonstrates the efficiency and effectiveness of the business model that we have built and refined over the last several years, underpinned by our industry leading cost structure."

WD's financial performance is also indicative of of the growing mobile market, in which the company shipped 11.7 million 2.5-inch mobile drives.

Image Credit: Western Digital

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