TMCnet News
SanDisk Posts Record Revenues(Electronic News Via Thomson Dialog NewsEdge)Sunnyvale, Calif.-based SanDisk Corp., a leading supplier of flash storage card products, today announced booming results for its Q4. For the quarter ended January 1, revenues increased 37 percent to a record $751 million and increased 27 percent compared to the Q3 of 2005. Q4 net income was $134 million compared to $78 million in the Q4 of 2004 and $107 million in the Q4 of 2005. Fully diluted earnings per share were 68 cents, up 62 percent on a year-over-year basis and up 24 percent sequentially. Total revenue for fiscal 2005 was $2.3 billion, up 30 percent from $1.8 billion in 2004. Net income was $386 million, up 45 percent from net income of $267 million in 2004. Earnings per share for fiscal 2005 were $2, compared to $1.44 in 2004. The fourth quarter was a strong finish to a great year for SanDisk. We sold approximately 11 million mobile cards primarily into OEM bundles in camera-phones and music-centric phones, and we are seeing exceptionally broad acceptance of our microSD format in new handsets from the top tier OEMs, said Eli Harari, SanDisk CEO, in a statement. We sold more than a million flash MP3 players in the fourth quarter, gaining a clear number two share in the highly competitive U.S. retail market, indicative of the growing recognition among consumers of the SanDisk brand, and driven by our strong retail sales organization, which surpassed the 150,000 storefront milestone during the quarter Harari predicts continued growth in 2006, with the exception of seasonally soft first quarter that his company intends to offset with lowering prices and increasing output of their 8Gbit chip. |