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Western Digital Announces Recovery From Thailand Flooding

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Apart from releasing its financial report for the second fiscal quarter ending December 2011, hard drive manufacturer Western Digital announced that it has made significant recovery from the Thailand flooding which crippled the operations of the company, including other hard drive makers.  In its report, Western Digital made the announcement that it has made significant additional progress to restore its manufacturing capacity.  In its report, Western Digital declared that it has continued to ramp HDD production and already resumed slider production which had been suspended since October 10, 2011.  The company believes its manufacturing capacity will be back to pre-flood capabilities in the quarter ending September 2012.

“We have made substantial progress in restoring WD’s manufacturing capabilities in the aftermath of the historic flooding in Thailand, and this is reflected in our second quarter financial results and in the resumption of our operations there,” said John Coyne, president and chief executive officer. “While much work remains to be done over the next several quarters to reach our pre-flood manufacturing capabilities, the progress thus far is significantly ahead of our original expectations and is a tribute to the dedicated and effective actions of our employees, contractors and Thai government agencies, the efforts of our supply partners and the support of our customers. We are grateful to all involved in this extraordinary effort.”

This is a significant news, and something that should also be expected from other hard drive markers.  Prices of HDDs in the Philippines have skyrocketed in the past months because of the shortage of supplies, and the recent announcement from Western Digital should slowly lower the prices to normal levels.

With respect to the other content of its financial report, Western Digital reported a revenue of US$2.0 billion, hard-drive unit shipments of 28.5 million and net income of US$145 million for its second fiscal quarter ended Dec. 30, 2011.  The company generated US$378 million in cash from operations during the December quarter, ending with total cash and cash equivalents of US$3.9 billion.

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