Tuesday, January 24, 2012
WD Reports Progress On Flood Recovery
Irvine-based Western Digital Corp., the maker of disk drives, has given an update on its operations, saying last night that it now believes it will restore its manufacturing capacity to pre-flood capability by the quarter ending September 2012. WD had been severely hit by the floods in Thailand, which resulted in the shutdown of a number of its factories. WD was one of many manufacturers with operations in Thailand whose factories were inundated by historic flooding in that country. The update came as WD reported revenues of $2.0 billion and net income of $145M for its Q2, down from $2.5 billion and net income of $225M fro the similar quarter a year ago. WD spent $199M related to the flooding in the quarter.