It has been a big week for Western Digital. WD announced a 2.5-inch version of its VelociRaptor hard drive this week and now it is announcing its earnings for Q4 of its fiscal 2008 year. WD posted revenue of $8.1 billon and an operating income of $1 billion.

WD says net income was $867 million, or $3.84 per share. The prior year net income was $564 million or $2.50 per share. WD says that the fiscal year showed an increase in revenue of 48% compared to fiscal 2007’s $5.5 billion. Revenue in Q4 totaled $2 billion and WD shipped 35.2 million units in the quarter with an operating income of $241 million.

"Fiscal 2008 was an outstanding year for WD, capped off with the strong fourth-quarter financial performance," said John Coyne, president and chief executive officer. "Our outstanding financial performance demonstrates the efficiency and effectiveness of the business model that we have built and refined over the last several years, underpinned by our industry-leading cost structure. Customer satisfaction with WD's broad product line, high quality and reliability, service excellence and overall value proposition continues to drive our profitable growth."

Via Western Digital