Western Digital said Wednesday that it expects to post its first quarterly earnings decline in more than two years and that its earnings for the latest quarter will be well below Wall Street estimates.
But the Irvine-based computer products company said it expects to post record revenues of between $155 million and $160 million for its fiscal second quarter ended Dec. 26. It expects to report final results in about two weeks.
In American Stock Exchange trading Wednesday, Western Digital closed unchanged at $16.75. The announcement came after the market's close in New York.
Western Digital said it anticipates second quarter per-share earnings in the high 20- to low 30-cent range. Wall Street analysts' estimates generally have ranged between 35 and 45 cents per share.