Like many component makers hurt by the falling cost of desktop computers, disk drive company Western Digital saw its revenue and earnings drop drastically from the year-ago period for the first quarter ended September 26.
The company posted a net loss of $194.7 million or $2.20 per share today, compared with net income of $62.7 million or 67 cents a share reported for the like quarter a year ago. Excluding special charges related to its warranty reserves, Western Digital posted a loss of $110.2 million or $1.24 per share--in line with analysts' estimates.
According to First Call, Wall Street was anticipating a loss of $1.24 a share.
Western Digital's quarterly revenue fell sharply to $650.9 million from $1.09 billion last year.
In other earnings news, network security and antivirus software maker Network Associates reported better-than-expected third-quarter income today.
The company posted a net loss of $132.1 million or 99 cents a share, compared with net income of $11.5 million or 9 cents per share reported for the same period a year ago. Before charges related to Network Associates' August acquisition of Dr Solomon's, the company reported income of $59.8 million or 41 cents a share on a pro forma basis, compared with pro forma income of $35.2 million or 27 cents a share posted for the like quarter a year ago.
Financial analysts had predicted that Network Associates would earn 38 cents per share, according to First Call.
The company's quarterly revenues rose to $242.4 million from $182 million reported for the like quarter a year ago.
Among Internet companies, online auctioneer Onsale today reported a widening third-quarter financial loss that was in line with analysts expectations.
The company posted a net loss of $3.3 million or 17 cents per share, compared with a net loss of $600,000 or 3 cents a share reported for the same period last year.
Wall Street was expecting the company to lose 17 cents a share, according to First Call.
Onsale's quarterly revenue rose to $57.8 million from $25.1 million a year ago.
Professional services and software firm Compuware reported better-than-expected second-quarter earnings for the quarter ended September 30.
The company posted net income of $69.8 million or 35 cents a share. Excluding charges from its purchase of CenterLine Software, Compuware posted income of $71.6 million or 36 cents a share, compared with net income of $34.7 million or 18 cents a share reported for the like quarter a year ago.
Financial analysts had expected the company to report profits of 32 cents a share, according to First Call.
Compuware's quarterly revenues rose to $366.6 million from $247.4 million last year.
Client-server computing company Citrix reported a better-than-expected third quarter profit today, besting Wall Street's estimates by 2 cents, before charges.
Citrix, whose products allow companies to offer software applications off a centralized server, posted net income of $15.7 million or 34 cents a share, compared with net income of $13.1 million or 30 cents a share reported for the like quarter a year ago. Excluding an acquisition-related charge, the company had income of $20.3 million or 44 cents per share. Analysts had expected a profit of 42 cents per share from Citrix, according to First Call.
The company's quarterly revenue nearly doubled to $67.6 million from $34.9 million reported a year ago.