Western Digital Reports Record Results

Irvine-based disk drive maker Western Digital reported its annual results last night, saying that it had record revenues of $12.5 billion, and net income of $1.6 billion for its fiscal 2012. The publicly held company said that compares to a fiscal 2011 revenue of $9.5 billion and $726 million in net income. The company now has now amassed a huge, $3.2 billion in cash and cash equivalents, after generating $1.1 billion in cash from operations in its June quarter.