Western Digital(WDC) bumped up earnings guidance in a federal filing Monday, citing strength across the electronics and computer sector.
The disk drive maker, which is occasionally viewed as a proxy for digital hardware at the consumer level, expects to earn 36 cents to 39 cents a share on revenue of $1.04 billion to $1.075 billion. Its old guidance was for earnings of 33 cents to 36 cents a share on sales of $1.025 billion to $1.075 billion. Western Digital said demand is seasonally strong for desktop, notebook, digital video recorder and other storage products, while unit shipments have been typically "linear." "Pricing in all segments of its business has been better than expected and the company has continued to make improvements in manufacturing cost efficiencies, leading to better-than-expected gross margin performance," it said. Western Digital said inventory levels both for it and the industry remain "manageable." Analysts expect the company to earn 35 cents a share on sales of $1.057 billion this quarter. The stock closed at $14.50 Monday.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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