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Western Digital reports 51% increase in unit shipments

Western Digital has posted a 19% growth in revenue and a 51% increase in shipments from the fiscal fourth quarter 2001 to fourth quarter 2002

Western Digital has posted revenues of $540.7 million for the fourth quarter, marking a 19% growth in revenue from the same quarter last year. For the fiscal year ended June 28th, revenues grew from $1.95 billion to $2.15 billion a 10% growth. The company shipped approximately 8 million units in the quarter, a 51% increase year on year.

“The fourth quarter performance finished an outstanding year for Western Digital, as our business model, focus and execution in the drive business resulted in solid profitability, growth and product leadership,” said Matt Massengill, chairman and chief executive officer. “We deployed new technology well and cost-effectively, enabling us to maintain our position as a premier supplier to leading PC OEMs and distributors. We penetrated new growth markets, with more than 10% of the year's unit volume shipped into hard drive markets that barely existed one year ago—gaming consoles and PVR devices, and Q4 fiscal 2002 marked the last of losses associated with our new venture activity.”

“Although the current environment remains challenging, we are well positioned with a lean and highly leveraged business model optimised for current business conditions. We are ready with the next-generation technologies in our core markets, poised to lead the implementation of Serial ATA technology in the enterprise market, and we're prepared to continue our participation in the emerging consumer applications for rotating magnetic storage,” Massengill concluded.

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