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SanDisk Posts Higher Sales, Lower Profits

1/26/2012 12:52:32 PM Eastern
Milpitas, Calif. - SanDisk reported higher fourth quarter revenue and but lower net income in its fiscal fourth quarter ended Jan. 1.

Total fourth quarter revenue of $1.58 billion increased 19 percent on a year-over-year basis

On a GAAP basis, fourth quarter net income was $281 million, compared to net income of $485 million in the fourth quarter of fiscal 2010.

On an annual basis revenues in fiscal 2011 were $5.66 billion up 17 percent from the prior year with net income for fiscal 2011 was $987 million down from the prior year's $1.3 billion.

Sanjay Mehrotra, president/CEO, said in a statement, "The secular demand trends for NAND flash remain vibrant and we are particularly excited about the new growth opportunities for our business in the Enterprise and Client Computing markets."
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