Citing a widening market for its products, and the effectiveness of internal cost controls, Western Digital Corp. in Irvine reported record net income and revenues for its second quarter, ended Dec. 31. Net earnings of $4.3 million were up 54% from $2.8 million in the same period the previous year. Revenues rose to $64 million, up 66% from $38.5 million.
For the first six months of its 1986 fiscal year, Western Digital had net earnings of $7.4 million, up 32% from $5.6 million. Revenues for the first six months rose to $127 million, a 65% increase from $76.8 million.
The earnings include use of tax credits for net loss carry-forwards. The credit for the quarter was $89,000 this fiscal year and $203,000 last year. The six-month credit was $652,000 this fiscal year and $405,000 a year ago.
Western Digital's performance was helped by the payroll savings that followed the layoffs of 700 of the computer parts maker's 2,600 employees during the first six months of its fiscal 1986. The company recorded a $4.6 million loss in fiscal 1985, ended June 30.