Western Digital Takes a Revenue Hit

Posted on April 21, 2011 By Sean Michael Kerner


It was a tough quarter for Western Digital (NYSE:WDC).

Third quarter fiscal 2011 revenues for the storage vendor were reported at $2.25 billion, a decline from of 15 percent from the $2.64 billion reported for the third quarter of 2010. Net Income was reported at $146 million, a decline from the $400 million reported in 2010.

"Customers accelerated product purchases in the last 3 weeks the quarter, due to supply concerns as a result of the Japanese earthquake," CEO and President of Western Digital (WD) noted during the company's earnings call. "Analyzing the effects of the events in Japan, on the technology industry generally, there were, and remain a number of supply chain challenges, which are impacting both demand and supply visibility in the June quarter and beyond."

Read the full story:
Western Digital Q3 Revenues Fall

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