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SanDisk Posts Higher Sales, Lower Profits

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.”