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SanDisk Reports Higher Sales, Lower Profits

Milipitas, Calif. – SanDisk reported higher revenue but
lower net profits in its fiscal first quarter ended April 3.

First quarter revenue was $1.29 billion, an increase of 19
percent on a year-over-year basis. Net income was $224 million compared with
net income of $235 million for the same period last year.

In a prepared statement said Sanjay Mehrotra, president/CEO,
said, “Our embedded mobile business drove growth in the first quarter, and
SanDisk executed well to deliver strong business results. We have been actively
managing our supply chain following the recent events in Japan and believe we
remain on track to deliver a strong 2011 for SanDisk.”