Westerb Digital Corp. (WDC) just reported a record quarter and easily topped the Zacks Consensus Estimate.
Company Description
Western Digital makes hard drives and sells them globally. The storage devices are used in computers, surveillance equipment, DVRs and various other applications.
Crushed Estimates
On Oct 22 Western Digital announced first-quarter results that set multiple company records. Revenue came in at $2.2 billion on 44.1 million units shipped, both the highest in company history.
Earnings came in at $1.25 per share, crushing the Zacks Consensus of just 90 cents. Even after 9 revisions in the past 7 days, Western Digital still stunned analysts.
Impressive Growth
Full-year estimates also saw revisions from 9 analysts in the past 30 days. The Zacks Consensus Estimate for 2010 is currently $3.64, up from $2.19 over the past 3 months. Next year’s estimates average $4.01, up from $3.10 in the same time period.
These levels are prior to any adjustments that can be expected after last night’s earnings report. As of now, projected growth rate are at 43% for this year and another 10% next year.
And Value
Shares are still attractively priced at just 10 times forward earnings. The PEG ratio comes in at just 0.8 times.
The Chart
Below you can see the flawless earnings history for the past 5 years. Even as the economic turmoil that has been around for the past few years, WDC manages to out do expectations.
