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Short Take: Western Digital posts narrower-than-expected loss

Disk drive maker Western Digital on Thursday reported a narrower-than-expected loss in its fiscal first quarter of $33.5 million, or 23 cents per share, on sales of $440.2 million, including a gain from some company debt that was redeemed for stock. Excluding the gain, the company lost $44.8 million, or 30 cents per share. Analysts expected the company to lose 32 cents per share, according to a consensus estimate from Multex.com. In the same quarter last year, Western Digital lost $106.3 million, or $1.11 per share, on revenue of $407 million. "The (September) quarter was a challenging one for the desktop drive industry, as it began with low price points and ended with component shortages that constrained our ability to meet total demand," chief executive Matt Massengill said in a statement.

    Disk drive maker Western Digital on Thursday reported a narrower-than-expected loss in its fiscal first quarter of $33.5 million, or 23 cents per share, on sales of $440.2 million, including a gain from some company debt that was redeemed for stock. Excluding the gain, the company lost $44.8 million, or 30 cents per share. Analysts expected the company to lose 32 cents per share, according to a consensus estimate from Multex.com. In the same quarter last year, Western Digital lost $106.3 million, or $1.11 per share, on revenue of $407 million. "The (September) quarter was a challenging one for the desktop drive industry, as it began with low price points and ended with component shortages that constrained our ability to meet total demand," chief executive Matt Massengill said in a statement.