Less than one week after it announced plans to lay off nearly 300 workers company-wide, Western Digital Corp. said Thursday that it expects to report an unspecified loss for the fourth quarter.
Ironically, the company said that the loss comes primarily because of the high costs of filling an abnormal amount of large orders for key customers.
The Irvine-based computer products maker reported net income of $3.3 million in fiscal 1984's fourth quarter.
Despite the anticipated quarterly loss, the company said that it expects to be profitable for the fiscal year ended June 30. In fiscal 1984, the company reported net income of $7.8 million.
Revenues, however, for the fiscal year and fourth quarter are expected to increase, officials said. For the fourth quarter, the company said that it expects to report a 43% rise in revenues to $60 million, from $42 million during the same period last year. The company expects to report a 57% jump in revenues for the fiscal year, to $177 million this year from $113 million last year.