Earnings Briefs
Staff -- TWICE, 1/28/2002
SanDisk Q4 Revenue Drops 48%
Sunnyvale, Calif.— Flash memory data storage products supplier SanDisk recorded a 48 percent decrease in revenue for the fourth quarter ended Dec. 31, sliding to $91.9 million, compared with $177.7 million in the year-ago three months. Product revenue declined by 46 percent, dropping to $83.4 million, down from $154.7 million in the same three months in 2000. Net income for the fourth quarter reached $25.6 million, down from $29.5 million in the same quarter in 2000. Revenue for the 12 months hit $366.3 million, a decrease from the previous year's $601.8 million, due primarily to lower product revenue. Product revenue for the full year was $316.9 million, compared with $526.4 million in 2000. SanDisk reported a loss of $297.9 million for the 12 months, a drop from net income of $298.7 million in the same 12 months the previous year. The company, despite very difficult market conditions throughout 2001, said it was able to increase retail revenue by 18 percent, compared with 2000. It noted the first signs that the market may have bottomed out.
Logitech Q3 Sales Jump 35%, Net Income Up 67%
Fremont, Calif.— Peripherals provider Logitech International, driven by strong holiday sales across its entire product lineup, posted a 35 percent increase in sales during its fiscal third quarter, reaching $314.2 million, up from $232 million in the year-ago three months. Net income was 67 percent higher in the third quarter ended Dec. 31, hitting $33.2 million, up from $19.9 million in the same quarter in 2000. Gross margin of 37.9 percent grew by 324 basis points over the same quarter the previous year. Logitech's retail business grew by 45 percent year over year in the third quarter, and accounted for 87 percent of the three-month's revenue. The company now expects revenue growth for the full year to slightly exceed its original target of 25 percent. In fiscal 2003, ending March 31, 2003, Logitech anticipates revenue will grow by about 15 percent. Net sales for the nine months reached $713.9 million, up from $564 million in the same period in 2000. Net income climbed to $53.4 million, up from $34.3 million in the corresponding nine months the previous year. Logitech provides Internet video cameras, mice and trackballs, keyboards, audio and telephony products, interactive gaming devices and 3D controllers.
Handspring Widens Loss In Q2; Revenue Drops
Mountain View, Calif. — Handheld computer maker Handspring, bolstered by what it called a better-than-expected holiday selling season, still managed to extend its three-month loss to $19.8 million in its fiscal second quarter, up from $15.2 million in the same period in 2000. Excluding one-time charges, Handspring said it lost $14.4 million in its second quarter. Revenue for the quarter ending Dec. 29 slid to $70.5 million, compared with $115.6 million in the year-ago three months. Revenue sequentially was up 15 percent from the $61.4 million registered in the first quarter. For the six months, company revenue dropped to $131.9 million, compared with $186.1 million in the same six months in 2000. Net loss for the six months widened to $52.5 million, up from $31.6 million in the same six months in 2000. In the current quarter, Handspring expects revenue to range between $61 million and $66 million.
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