Western Digital inches along
Drives still profitable
Posted in Business, 29th October 2001 15:44 GMT
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Hard drive maker Western Digital posted a turnover of $440.9 million, with a loss from continuing operations of $4.1 million for its first quarter ended September 28.
Its operating loss in the same period 2000 was $35.5 million, showing a decent gain, while revenue saw slight growth from the $424 million recorded in Q1 last year.
The good news for the company is that its hard drive operation reported its fourth consecutive profitable quarter ($4 million) from the 5.4 million units shipped in the quarter. This time last year it shipped 5.1 million units.
In the quarter, the company disposed of its Connex and SANavigator businesses, injecting $24.5 million into the bank balance and enabling it to report an overall cash gain of $20.5 million. WD has a cash mountain of $200 million. ®
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