Hitachi GST and HDS: Fiscal 2Q09 Financial Results

We publish only here the results of Hitachi Ltd. for its storage activities during second fiscal quarter (2Q09) ending in September 30, 2009.

Storage solutions revenues (HDS and Japan)

(in ¥ billions)	2Q08	2Q09	6 mo. 08	6 mo. 09
Revenues	93.0	73.0	178.0	142.0
Growth from previous year	+2%	*-22%*	+2%	-20%

(Source: Hitachi Ltd.)

Hard disk drives (Hitachi GST) revenues in ¥ billions

(in ¥ billions)	2Q08	2Q09
Revenues	158.1	121.0
*Growth from previous year*	-7%	*-23%*

(Source: Hitachi Ltd.)

Hard disk drives (Hitachi GST) revenues in U.S. $ millions

(in U.S. $ millions)	2Q08	2Q09
Revenues	1,477	1,292
*Growth from previous year*	+2%	*-13%*
Operating income (loss)	85	59

(Source: Hitachi Ltd.)

Hard disk drives (Hitachi GST)
in number of units

(in thousands)	2Q08	2Q09	*Growth*
Notebook, CE 2.5-inch	14,800	14,300	*-3%*
Desktop, CE 3.5-inch	9,400	8,200	-13%
Enterprise	1,400	1,500	+7%
Emerging (automotive, etc)	210	570	+171%
TOTAL	25,810	24,570	-5%

(Source: Hitachi Ltd.)

Comments

That's a bad quarter: sales of storage systems in Japan and outside (HDS) decreased 22% from fiscal 2Q08 to 2Q09, and revenues of Hitachi GST are down 23% in yens and 13% in U.S. dollars.

Shipments of HDDs decreased 5% with a large decrease in desktop units (-13%) as sales of notebook devices are down 3%. But Hitachi GST got better results in enterprise drives (+7%) against its main competitor in this field, Seagate, and recorded surprising growth (+171%) in HDDs for specialized markets like the automotive industry.