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The one-time payment by Western Digita will be made on orbefors Oct. 17. Western Digital had previouslyallocated $26.5 milliomn toward this dispute. As a Western Digital will takea $18.45 million charge to cost of revenue in its fourthh quarter, which ended June 27. The company previouslg reported earningsof $48.87 million and $200 million for the fourth quarter and full year 2003. As a resultg of this settlement, Western Digital's restated earnings are $31 million in the fourthj quarterand $182 million for the year. The company'sa earnings per share have been reduced to 15 cente and 89 cents per share for both periods from the 23 centse and 97 centspreviouslyg reported.
The lawsuit stemmed from a July 2001 decision by Westernj Digital to stop paying Cirrus for read channel chips that had been In addition, the company canceled all outstanding purchass orders and filed suit against Cirrus. In August 2001, Cirrus filed a cross-complain seekintg $53 million in damages. The dispute woulr have gone to trial in Western Digital said it no longed buys read channel devicesfrom Cirrus. The companuy said it relies on chips fromothere suppliers.
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