Bucking the trend of losses experienced by many computer companies, Western Digital Corp. Tuesday posted a 69% increase in net earnings and a 63% increase in revenues for the second quarter of fiscal 1985.
The Irvine-based company, which makes storage management and control devices for computers, reported that net income rose to $2.8 million, from $1.6 million reported for year-ago quarter. Net revenues for the quarter ended Dec. 31, increased to $38.5 million, substantially higher than the $23.6 million reported in the same period a year ago.
"Western Digital has been more fortunate than many in our industry since our proprietary products generally serve more specialized applications, and were not heavily overstocked by our customers during the high demand period of 1983 and early 1984," said Roger Johnson, chairman, president and chief executive officer. He said a doubling of international shipments and strong market acceptance of its printed circuit-board level products also contributed to quarterly profits. Continuing demand for Western Digital's products "offer the probabilities of a very good second half," Johnson said.
Net earnings for the first six months rose 102% to $5.6 million, from the $2.7 million reported in the first half of fiscal 1984. Revenues for first half of the fiscal year increased 74%, to $76.7 million from $44.1 million.
Earlier this month, the company announced a $60-million contract to supply a variety of products to International Business Machines Corp., the nation's leading computer maker.