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ISIN: US80004C1018 · WKN: 897826
67,18
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+0,72 %
+0,48 EUR
Letzter Kurs 13.05.16 Tradegate
Feedback
Beobachte seit einiger Zeit Sandisk ..
Selbst wo heute Chipwerte ins Minus gehen steigt SNDK !
Sollte da bald die Post abgehen ..
wallfisch
Selbst wo heute Chipwerte ins Minus gehen steigt SNDK !
Sollte da bald die Post abgehen ..
wallfisch
Ist schon abgegangen 
Gibt selten so gute Werte mit einstelligen KGV. Immer noch ein kauf. Außerdem haben Digitalkameras die Zukunft noch vor sich
Irgendwann wird das ganze Zeugs wie Handy, Kamera und was man sonst so bei sich hat zusammenwachsen.
Hoffen wir das sndk beteiligt ist. Speicher braucht man ja sowieso immer.
Gibt selten so gute Werte mit einstelligen KGV. Immer noch ein kauf. Außerdem haben Digitalkameras die Zukunft noch vor sich
Irgendwann wird das ganze Zeugs wie Handy, Kamera und was man sonst so bei sich hat zusammenwachsen.
Hoffen wir das sndk beteiligt ist. Speicher braucht man ja sowieso immer.
Habe schon letzts Jahr gute Gewinne mit SNDK gemacht .
Da ist noch ordentlich Luft nach oben !!
Mein Ziel : 70 bis 80 € !!
w
Da ist noch ordentlich Luft nach oben !!
Mein Ziel : 70 bis 80 € !!
w
Ja - Sandisk läuft wirklich gut im Moment - genauso wie der Wettbewerber Silicon Storage (NASDAQ: SSTI).
Und SSTI ist sogar noch viel günstiger bewertet, als Sandisk.
Ich habe beide Werte im Depot, und beide sind auf dem Vormarsch. Mal sehen - soweit ich weiß, gibt es nächste Woche von beiden Unternehmen Quartalszahlen.
Moritz
Und SSTI ist sogar noch viel günstiger bewertet, als Sandisk.
Ich habe beide Werte im Depot, und beide sind auf dem Vormarsch. Mal sehen - soweit ich weiß, gibt es nächste Woche von beiden Unternehmen Quartalszahlen.
Moritz
SNDK steigt weiter Z.Zt. 41€
Tippe heute auf 45 € !
Wer tippt mit ??
w
Z.Zt. 41€Tippe heute auf 45 € !
Wer tippt mit ??
w
Trading Spotlight
SanDisk Announces Third Quarter Results
SUNNYVALE, Calif.--(BUSINESS WIRE)--Oct. 17, 2001--SanDisk Corporation (NASDAQ:SNDK - news), the world`s largest supplier of flash memory data storage products, today announced results for its third quarter ended September 30, 2001. Total third quarter revenues were $65.9 million, a decrease of 39% from $107.1 million in the second quarter of 2001. Product revenues were $57.3 million, down 35% from the prior quarter due to severe pricing pressures and a further deterioration in retail market conditions subsequent to the events of September 11th. Revenues from licenses and royalties were $8.6 million in the third quarter compared to $19.0 million for the second quarter of 2001, reflecting lower royalty bearing sales by licensees due to weak market conditions. Net loss in the third quarter of 2001 was $170.5 million, or $2.50 per share and includes losses related to investment in equity security write-downs in UMC of $96.2 million and Tower of $19.9 million, $16.1 million of inventory write-down charges and $8.5 million of restructuring charges related to the closing of card assembly and test manufacturing operations in Sunnyvale. This compares to a net loss of $10.0 million, or $0.15 per share in the second quarter of 2001, which included inventory write-down and equipment write-off charges of $30.7 million. Excluding the write-downs of investments in equity securities, inventory write-downs and restructuring charges, the company had a third quarter net loss from operations of $33.0 million, or $0.48 per share.
Product gross margin for the third quarter of 2001 was negative 56% due primarily to the $16.1 million of inventory write-down to net realizable value and $8.5 million of start-up charges related to the ramp up of the FlashVision foundry joint venture in Virginia. This compares to negative 21% in the second quarter of 2001, which included inventory write-down and equipment write-off charges of $30.7 million. Excluding these charges in both quarters, product gross margins were negative 13% in the third quarter of 2001, compared to positive 14% in the prior quarter. Product gross margin was adversely impacted by a sequential decline of 34% in revenue per megabyte. Units shipped declined sequentially by 30%; however, total megabytes shipped increased by 17% in the third quarter compared to the previous quarter due to a marked shift to higher average capacity per card.
Total third quarter revenues decreased 61% from $170.8 million in the third quarter of 2000. Product revenues declined 62% from $151.8 million in the same period of the prior year due to a 56% decline in revenue per megabyte and lower shipment volumes. Revenues from licenses and royalties decreased 55% from $19.0 million in the third quarter of 2000. The third quarter 2001 net loss of $170.5 million, or $2.50 per share compares to earnings of $25.6 million, or $0.35 per diluted share, for the third quarter of 2000.
``Pricing pressures accelerated during the quarter due to continuing excess supply,`` said Dr. Eli Harari, President and CEO of SanDisk. ``Sell-through in our retail channel was strong in the first two months of the quarter, then declined sharply in the weeks after the events of September 11th. In recent weeks, we have seen a pick-up in our retail orders; however, it is too early to say if retail sales in the fourth quarter will meet our previous expectations for the holiday season. Sales to our OEM customers remained depressed during the quarter as these customers are continuing their inventory correction. We are encouraged by the high level of design-in activities for our products and believe that customers are beginning to respond favorably to the value offered through the lower card prices. In the current quarter, we expect to sell for the first time Memory Stick cards supplied under our recently announced strategic agreement with Sony, as well as our new line of SanDisk Ultra(TM) high performance CompactFlash cards introduced this month.
``We are focused on returning to operational profitability as soon as possible and continue to take aggressive steps to reduce our product costs, minimize our operating expenses and preserve the strength of our balance sheet. We expect essentially all card assembly and test manufacturing operations to transfer offshore by the end of the current quarter, resulting in a reduction of approximately 25% of our total workforce. Additionally, we have implemented a company wide temporary salary reduction and holiday week shutdown in the upcoming quarter, and are continuing to tightly control all discretionary spending. These actions are expected to lower our product overhead cost structure and our operating expenses in future quarters.
``We expect to complete the transition of all production from 0.24 micron NOR to .16 micron NAND Flash by the end of the current quarter. We believe that our investments in advanced technology NAND flash memory are beginning to bear first fruits. Further technology advancements, which are expected to be implemented in production throughout 2002 will give us a lower, highly competitive cost structure, and we see ourselves heading back to positive margin territory when these changes are implemented. Because of market uncertainties and continuing pricing pressures, we currently believe that the fourth quarter of 2001 may be the low point of the current down cycle. However, we are cautiously optimistic of renewed gradual growth in our business in 2002 and corresponding improvement in our financial performance.``
This news release contains certain forward looking statements including our expectations for future product revenues and bookings, product demand, average selling prices, gross margin and earnings that are based on current expectations and involve risks and uncertainties that may significantly and adversely affect our business, financial condition and results of operations. In addition to the factors discussed above, other risks include: future average selling price erosion due to excess industry capacity and extreme price competition; increased expenses and fluctuations in operating results and yields related to the startup of wafer production at our FlashVision foundry joint venture in Virginia; the timely development, internal qualification and customer acceptance of new products based on the 512megabit .16 micron NAND flash chips that SanDisk is obligated to purchase from FlashVision; fluctuations in royalty revenues due to industry wide declines in demand for flash memory products which reduce royalty bearing sales of our licensees; the timely introduction and acceptance of new consumer products that incorporate our flash storage devices; slower than expected growth in the emerging markets for our products which may result in reduced sales and increased inventory; successful management of assembly operations in China and Taiwan; the unknown economic impact of the recent terrorist attacks and the military response thereto; seasonality of product sales; success in developing brand name preference and an efficient distribution system for SanDisk`s products in the retail channel; economic conditions and exchange rates in Japan, the Pacific Rim, Europe and other geographic regions as they affect SanDisk`s customers; the successful launch of our Secure Digital and Memory Stick card products; and the other risks detailed from time to time in our Securities and Exchange Commission filings and reports, including, but not limited to, the Form 10Q for the quarter ended June 30, 2001 and the Annual Report on Form 10-K for the year ended December 31, 2000. Future results may differ materially from those previously reported. We assume no obligation to update the information in this release.
SanDisk Corporation, the world`s largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.
SanDisk`s third quarter 2001 conference call is scheduled for 2:00 p.m. PDT, Wednesday, October 17th. The phone number is (973) 872-3100. A webcast of the conference call will be available on www.sandisk.com/q3results and on www.streetevents.com. Both webcasts will be available until Monday, October 22, 2001, at 8:00 a.m. Pacific Time.
SanDisk`s web site / home page address: http://www.sandisk.com
CompactFlash and CF are trademarks of SanDisk Corporation.
SanDisk Corporation
Condensed Consolidated Statement of Income
(In thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
2001 2000 2001 2000
------------------------------------------
Revenues:
Product $ 57,305 $151,816 $233,503 $371,638
License and royalty 8,582 19,023 40,859 52,519
--------- --------- --------- --------
Total revenues 65,887 170,839 274,362 424,157
Cost of sales 89,426 101,874 314,958 254,146
--------- --------- --------- --------
Gross profits (23,539) 68,965 (40,596) 170,011
Operating expenses:
Research and development 14,660 13,018 45,231 32,838
Sales and marketing 10,664 12,505 31,415 34,568
General and administrative 4,000 7,907 12,574 18,667
Restructuring 8,510 0 8,510 0
--------- --------- --------- --------
Total operating expenses 37,834 33,430 97,730 86,073
--------- --------- --------- --------
Operating income (loss) (61,373) 35,535 (138,326) 83,938
Equity in income of
joint ventures 794 0 1,301 0
Interest income 2,616 5,855 9,770 17,291
Gain (loss) on investment
in foundry (110,913) 0 (290,894) 344,168
Other income (expense), net (5,971) (438) (7,973) 661
--------- --------- --------- ---------
Income (loss) before taxes (174,847) 40,952 (426,122) 446,058
Provision for (benefit from)
income taxes (4,371) 15,349 (102,550) 176,916
--------- --------- --------- ---------
Net income (loss) $(170,476) $ 25,603 $(323,572) $269,142
========= ========= ========= =========
Net income (loss)
per share:
Basic $ (2.50) $ 0.38 $ (4.75) $ 4.04
Diluted $ (2.50) $ 0.35 $ (4.75) $ 3.70
Shares used in computing
net income (loss) per share:
Basic 68,289 67,142 68,064 66,685
Diluted 68,289 72,638 68,064 72,817
SanDisk Corporation
Condensed Consolidated Balance Sheet
(in thousands)
September 30, December 31,
2001 2000
-------------------------
ASSETS
Current Assets:
Cash and cash equivalents $ 45,876 $ 106,277
Short term investments 226,354 260,462
Investment in UMC 93,565 112,854
Accounts receivable, net 41,892 104,617
Inventories 39,846 96,600
Deferred tax assets 10,934 7,066
Prepaid expenses and other current assets 15,371 9,431
----------- -----------
Total current assets 473,838 697,307
Property and equipment, net 36,596 41,095
Investment in UMC 25,990 197,688
Investment in joint ventures 152,788 134,730
Investment in equity securities 28,744 7,200
Deposits and other assets 7,766 29,887
----------- -----------
Total Assets $ 725,722 $ 1,107,907
=========== ===========
LIABILITIES AND STOCKHOLDERS` EQUITY
Current Liabilities:
Accounts payable $ 48,350 $ 67,112
Accrued payroll and related expenses 7,035 16,215
Income taxes payable 5,708 16,427
Other accrued liabilities 45,761 20,863
Deferred revenue 16,987 50,740
----------- -----------
Total current liabilities 123,841 171,357
Deferred tax liability 2,506 70,000
Other liabilities -- 3,492
----------- -----------
Total non-current liabilities 2,506 73,492
Total Liabilities 126,347 244,849
Stockholders` Equity:
Common stock 575,115 567,001
Retained earnings 22,896 346,469
Accumulated other comprehensive income 1,364 (50,412)
----------- -----------
Total stockholders` equity 599,375 863,058
Total Liabilities and
Stockholders` equity $ 725,722 $ 1,107,907
=========== ===========
--------------------------------------------------------------------------------
Contact:
SanDisk
Frank Calderoni, CFO, 408/542-0585
SUNNYVALE, Calif.--(BUSINESS WIRE)--Oct. 17, 2001--SanDisk Corporation (NASDAQ:SNDK - news), the world`s largest supplier of flash memory data storage products, today announced results for its third quarter ended September 30, 2001. Total third quarter revenues were $65.9 million, a decrease of 39% from $107.1 million in the second quarter of 2001. Product revenues were $57.3 million, down 35% from the prior quarter due to severe pricing pressures and a further deterioration in retail market conditions subsequent to the events of September 11th. Revenues from licenses and royalties were $8.6 million in the third quarter compared to $19.0 million for the second quarter of 2001, reflecting lower royalty bearing sales by licensees due to weak market conditions. Net loss in the third quarter of 2001 was $170.5 million, or $2.50 per share and includes losses related to investment in equity security write-downs in UMC of $96.2 million and Tower of $19.9 million, $16.1 million of inventory write-down charges and $8.5 million of restructuring charges related to the closing of card assembly and test manufacturing operations in Sunnyvale. This compares to a net loss of $10.0 million, or $0.15 per share in the second quarter of 2001, which included inventory write-down and equipment write-off charges of $30.7 million. Excluding the write-downs of investments in equity securities, inventory write-downs and restructuring charges, the company had a third quarter net loss from operations of $33.0 million, or $0.48 per share.
Product gross margin for the third quarter of 2001 was negative 56% due primarily to the $16.1 million of inventory write-down to net realizable value and $8.5 million of start-up charges related to the ramp up of the FlashVision foundry joint venture in Virginia. This compares to negative 21% in the second quarter of 2001, which included inventory write-down and equipment write-off charges of $30.7 million. Excluding these charges in both quarters, product gross margins were negative 13% in the third quarter of 2001, compared to positive 14% in the prior quarter. Product gross margin was adversely impacted by a sequential decline of 34% in revenue per megabyte. Units shipped declined sequentially by 30%; however, total megabytes shipped increased by 17% in the third quarter compared to the previous quarter due to a marked shift to higher average capacity per card.
Total third quarter revenues decreased 61% from $170.8 million in the third quarter of 2000. Product revenues declined 62% from $151.8 million in the same period of the prior year due to a 56% decline in revenue per megabyte and lower shipment volumes. Revenues from licenses and royalties decreased 55% from $19.0 million in the third quarter of 2000. The third quarter 2001 net loss of $170.5 million, or $2.50 per share compares to earnings of $25.6 million, or $0.35 per diluted share, for the third quarter of 2000.
``Pricing pressures accelerated during the quarter due to continuing excess supply,`` said Dr. Eli Harari, President and CEO of SanDisk. ``Sell-through in our retail channel was strong in the first two months of the quarter, then declined sharply in the weeks after the events of September 11th. In recent weeks, we have seen a pick-up in our retail orders; however, it is too early to say if retail sales in the fourth quarter will meet our previous expectations for the holiday season. Sales to our OEM customers remained depressed during the quarter as these customers are continuing their inventory correction. We are encouraged by the high level of design-in activities for our products and believe that customers are beginning to respond favorably to the value offered through the lower card prices. In the current quarter, we expect to sell for the first time Memory Stick cards supplied under our recently announced strategic agreement with Sony, as well as our new line of SanDisk Ultra(TM) high performance CompactFlash cards introduced this month.
``We are focused on returning to operational profitability as soon as possible and continue to take aggressive steps to reduce our product costs, minimize our operating expenses and preserve the strength of our balance sheet. We expect essentially all card assembly and test manufacturing operations to transfer offshore by the end of the current quarter, resulting in a reduction of approximately 25% of our total workforce. Additionally, we have implemented a company wide temporary salary reduction and holiday week shutdown in the upcoming quarter, and are continuing to tightly control all discretionary spending. These actions are expected to lower our product overhead cost structure and our operating expenses in future quarters.
``We expect to complete the transition of all production from 0.24 micron NOR to .16 micron NAND Flash by the end of the current quarter. We believe that our investments in advanced technology NAND flash memory are beginning to bear first fruits. Further technology advancements, which are expected to be implemented in production throughout 2002 will give us a lower, highly competitive cost structure, and we see ourselves heading back to positive margin territory when these changes are implemented. Because of market uncertainties and continuing pricing pressures, we currently believe that the fourth quarter of 2001 may be the low point of the current down cycle. However, we are cautiously optimistic of renewed gradual growth in our business in 2002 and corresponding improvement in our financial performance.``
This news release contains certain forward looking statements including our expectations for future product revenues and bookings, product demand, average selling prices, gross margin and earnings that are based on current expectations and involve risks and uncertainties that may significantly and adversely affect our business, financial condition and results of operations. In addition to the factors discussed above, other risks include: future average selling price erosion due to excess industry capacity and extreme price competition; increased expenses and fluctuations in operating results and yields related to the startup of wafer production at our FlashVision foundry joint venture in Virginia; the timely development, internal qualification and customer acceptance of new products based on the 512megabit .16 micron NAND flash chips that SanDisk is obligated to purchase from FlashVision; fluctuations in royalty revenues due to industry wide declines in demand for flash memory products which reduce royalty bearing sales of our licensees; the timely introduction and acceptance of new consumer products that incorporate our flash storage devices; slower than expected growth in the emerging markets for our products which may result in reduced sales and increased inventory; successful management of assembly operations in China and Taiwan; the unknown economic impact of the recent terrorist attacks and the military response thereto; seasonality of product sales; success in developing brand name preference and an efficient distribution system for SanDisk`s products in the retail channel; economic conditions and exchange rates in Japan, the Pacific Rim, Europe and other geographic regions as they affect SanDisk`s customers; the successful launch of our Secure Digital and Memory Stick card products; and the other risks detailed from time to time in our Securities and Exchange Commission filings and reports, including, but not limited to, the Form 10Q for the quarter ended June 30, 2001 and the Annual Report on Form 10-K for the year ended December 31, 2000. Future results may differ materially from those previously reported. We assume no obligation to update the information in this release.
SanDisk Corporation, the world`s largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.
SanDisk`s third quarter 2001 conference call is scheduled for 2:00 p.m. PDT, Wednesday, October 17th. The phone number is (973) 872-3100. A webcast of the conference call will be available on www.sandisk.com/q3results and on www.streetevents.com. Both webcasts will be available until Monday, October 22, 2001, at 8:00 a.m. Pacific Time.
SanDisk`s web site / home page address: http://www.sandisk.com
CompactFlash and CF are trademarks of SanDisk Corporation.
SanDisk Corporation
Condensed Consolidated Statement of Income
(In thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
2001 2000 2001 2000
------------------------------------------
Revenues:
Product $ 57,305 $151,816 $233,503 $371,638
License and royalty 8,582 19,023 40,859 52,519
--------- --------- --------- --------
Total revenues 65,887 170,839 274,362 424,157
Cost of sales 89,426 101,874 314,958 254,146
--------- --------- --------- --------
Gross profits (23,539) 68,965 (40,596) 170,011
Operating expenses:
Research and development 14,660 13,018 45,231 32,838
Sales and marketing 10,664 12,505 31,415 34,568
General and administrative 4,000 7,907 12,574 18,667
Restructuring 8,510 0 8,510 0
--------- --------- --------- --------
Total operating expenses 37,834 33,430 97,730 86,073
--------- --------- --------- --------
Operating income (loss) (61,373) 35,535 (138,326) 83,938
Equity in income of
joint ventures 794 0 1,301 0
Interest income 2,616 5,855 9,770 17,291
Gain (loss) on investment
in foundry (110,913) 0 (290,894) 344,168
Other income (expense), net (5,971) (438) (7,973) 661
--------- --------- --------- ---------
Income (loss) before taxes (174,847) 40,952 (426,122) 446,058
Provision for (benefit from)
income taxes (4,371) 15,349 (102,550) 176,916
--------- --------- --------- ---------
Net income (loss) $(170,476) $ 25,603 $(323,572) $269,142
========= ========= ========= =========
Net income (loss)
per share:
Basic $ (2.50) $ 0.38 $ (4.75) $ 4.04
Diluted $ (2.50) $ 0.35 $ (4.75) $ 3.70
Shares used in computing
net income (loss) per share:
Basic 68,289 67,142 68,064 66,685
Diluted 68,289 72,638 68,064 72,817
SanDisk Corporation
Condensed Consolidated Balance Sheet
(in thousands)
September 30, December 31,
2001 2000
-------------------------
ASSETS
Current Assets:
Cash and cash equivalents $ 45,876 $ 106,277
Short term investments 226,354 260,462
Investment in UMC 93,565 112,854
Accounts receivable, net 41,892 104,617
Inventories 39,846 96,600
Deferred tax assets 10,934 7,066
Prepaid expenses and other current assets 15,371 9,431
----------- -----------
Total current assets 473,838 697,307
Property and equipment, net 36,596 41,095
Investment in UMC 25,990 197,688
Investment in joint ventures 152,788 134,730
Investment in equity securities 28,744 7,200
Deposits and other assets 7,766 29,887
----------- -----------
Total Assets $ 725,722 $ 1,107,907
=========== ===========
LIABILITIES AND STOCKHOLDERS` EQUITY
Current Liabilities:
Accounts payable $ 48,350 $ 67,112
Accrued payroll and related expenses 7,035 16,215
Income taxes payable 5,708 16,427
Other accrued liabilities 45,761 20,863
Deferred revenue 16,987 50,740
----------- -----------
Total current liabilities 123,841 171,357
Deferred tax liability 2,506 70,000
Other liabilities -- 3,492
----------- -----------
Total non-current liabilities 2,506 73,492
Total Liabilities 126,347 244,849
Stockholders` Equity:
Common stock 575,115 567,001
Retained earnings 22,896 346,469
Accumulated other comprehensive income 1,364 (50,412)
----------- -----------
Total stockholders` equity 599,375 863,058
Total Liabilities and
Stockholders` equity $ 725,722 $ 1,107,907
=========== ===========
--------------------------------------------------------------------------------
Contact:
SanDisk
Frank Calderoni, CFO, 408/542-0585
Sind die Produkte von Sandisk nicht
auf dem technischen Stand?
http://www.digitalkamera.de/Info/News/11/87.htm
auf dem technischen Stand?
http://www.digitalkamera.de/Info/News/11/87.htm
SanDisk Appoints Hisao Kushiyama President of Sandisk Limited - Japan
SUNNYVALE, Calif. & YOKOHAMA, Japan--(BUSINESS WIRE)--Aug. 6, 2002--SanDisk Corporation (Nasdaq:SNDK - News), a leading provider of flash storage cards and technologies, today announced that Mr. Hisao Kushiyama has been appointed as president of SanDisk Limited (SanDisk Japan), a wholly owned subsidiary of SanDisk Corp.
Mr. Kushiyama will be responsible for growing SanDisk Japan`s retail and OEM market share and brand presence as well as managing key customer relationships and partnerships in Japan. He will report to Sanjay Mehrotra, executive vice president and chief operating officer at SanDisk. The appointment is effective immediately.
Mr. Kushiyama has more than 33 years of experience at NEC, Japan`s leading semiconductor and electronics company. Throughout his career at NEC, he has held various executive-level management, sales and engineering positions. Most recently, he was the general manager at NEC Deviceport Co., formerly the Semiconductor Sales Division of NEC, where he led the corporate planning division with a staff of 300 and was responsible for 200 billion (Yen) in annual sales.
"SanDisk Japan continues to play an important role in the expansion of SanDisk`s global presence," said Mehrotra. "Mr. Kushiyama`s extensive experience in growing and leading businesses as well as his wide network of relationships with key players in the industry will be of tremendous benefit to SanDisk as we continue to build our market leadership and brand. We are delighted to have Mr. Kushiyama join our team."
Kushiyama said, "SanDisk is a pioneer in the flash card market and its products are really the heart of digital cameras, hand held computers, mobile phones and other consumer electronics devices that require flash memory. While still in their early stages, these markets are growing rapidly and SanDisk is very well positioned to take advantage of this tremendous growth. I am very excited about joining SanDisk`s global team and to leverage my experience and relationships to grow the business."
Mr. Kushiyama has held various international management positions at NEC throughout the 1980s, where he was responsible for expanding business operations in Germany, England and France. He previously held a variety of engineering positions involving semiconductor development in the 1970s. He earned a Masters degree in Electronics Engineering from Kyushu University.
SanDisk Japan`s offices are located in Yokohama, Japan and can be reached at 81-45-474-0181.
SanDisk Corporation, the leading supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. The company sells all of the popular flash memory card formats including CompactFlash®, SmartMedia(TM), Secure Digital(TM), the MultiMediaCard and Memory Stick® as well as a complete line of card readers. SanDisk is based in Sunnyvale, CA.
A photo of Mr. Kushiyama is available upon request. SanDisk`s web site/home page address: http://www.sandisk.com
--------------------------------------------------------------------------------
Contact:
SanDisk Corporation
Mike Wong, 408/548-0223
mwong@sandisk.com
or
SanDisk KK (Japan)
Hitoko Masunaga, 81-45-474-0271
hmasunaga@sandisk.com
SUNNYVALE, Calif. & YOKOHAMA, Japan--(BUSINESS WIRE)--Aug. 6, 2002--SanDisk Corporation (Nasdaq:SNDK - News), a leading provider of flash storage cards and technologies, today announced that Mr. Hisao Kushiyama has been appointed as president of SanDisk Limited (SanDisk Japan), a wholly owned subsidiary of SanDisk Corp.
Mr. Kushiyama will be responsible for growing SanDisk Japan`s retail and OEM market share and brand presence as well as managing key customer relationships and partnerships in Japan. He will report to Sanjay Mehrotra, executive vice president and chief operating officer at SanDisk. The appointment is effective immediately.
Mr. Kushiyama has more than 33 years of experience at NEC, Japan`s leading semiconductor and electronics company. Throughout his career at NEC, he has held various executive-level management, sales and engineering positions. Most recently, he was the general manager at NEC Deviceport Co., formerly the Semiconductor Sales Division of NEC, where he led the corporate planning division with a staff of 300 and was responsible for 200 billion (Yen) in annual sales.
"SanDisk Japan continues to play an important role in the expansion of SanDisk`s global presence," said Mehrotra. "Mr. Kushiyama`s extensive experience in growing and leading businesses as well as his wide network of relationships with key players in the industry will be of tremendous benefit to SanDisk as we continue to build our market leadership and brand. We are delighted to have Mr. Kushiyama join our team."
Kushiyama said, "SanDisk is a pioneer in the flash card market and its products are really the heart of digital cameras, hand held computers, mobile phones and other consumer electronics devices that require flash memory. While still in their early stages, these markets are growing rapidly and SanDisk is very well positioned to take advantage of this tremendous growth. I am very excited about joining SanDisk`s global team and to leverage my experience and relationships to grow the business."
Mr. Kushiyama has held various international management positions at NEC throughout the 1980s, where he was responsible for expanding business operations in Germany, England and France. He previously held a variety of engineering positions involving semiconductor development in the 1970s. He earned a Masters degree in Electronics Engineering from Kyushu University.
SanDisk Japan`s offices are located in Yokohama, Japan and can be reached at 81-45-474-0181.
SanDisk Corporation, the leading supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. The company sells all of the popular flash memory card formats including CompactFlash®, SmartMedia(TM), Secure Digital(TM), the MultiMediaCard and Memory Stick® as well as a complete line of card readers. SanDisk is based in Sunnyvale, CA.
A photo of Mr. Kushiyama is available upon request. SanDisk`s web site/home page address: http://www.sandisk.com
--------------------------------------------------------------------------------
Contact:
SanDisk Corporation
Mike Wong, 408/548-0223
mwong@sandisk.com
or
SanDisk KK (Japan)
Hitoko Masunaga, 81-45-474-0271
hmasunaga@sandisk.com
Zacks Issues Recommendations on 4 Stocks: SNDK, THC, PIR and QLGC
PR Newswire - August 05, 2002 06:03
CHICAGO, Aug. 5 /PRNewswire/ -- Zacks.com releases another list of stocks that are currently members of the coveted Zacks #1 Ranked list which has produced an average annual return of 34% since inception in 1980 and is up +11.9% through July 1, 2002. Among the #1 ranked stocks today we highlight the following companies: SanDisk Corporation (Nasdaq: SNDK) and Tenet Healthcare Corporation (NYSE: THC). Further they announced #2 Rankings (Buy) on two other widely held stocks: Pier 1 Imports, Inc. (NYSE: PIR) and Qlogic Corporation (Nasdaq: QLGC).
Here is a synopsis of why these stocks have a Zacks Rank of 1 (Strong Buy):
SanDisk Corporation (Nasdaq: SNDK) manufactures and markets flash memory storage products for the consumer electronics and industrial/communications markets. Its products are used in digital cameras, portable digital music players and smart phones, among many others. In the first quarter, SNDK climbed out of a six-quarter rut and returned to profitability. The company attributed its success to growth in sales for global retail and consumer OEMs, lower overhead expenses, as well as the sale of $5.3 million of NOR flash inventory. Analysts have been waiting for this news. They`ve been raising estimates lately and SNDK has been able to surpass them in the past five quarters. Analysts believe that SNDK`s move into the black will be the first of many.
PR Newswire - August 05, 2002 06:03
CHICAGO, Aug. 5 /PRNewswire/ -- Zacks.com releases another list of stocks that are currently members of the coveted Zacks #1 Ranked list which has produced an average annual return of 34% since inception in 1980 and is up +11.9% through July 1, 2002. Among the #1 ranked stocks today we highlight the following companies: SanDisk Corporation (Nasdaq: SNDK) and Tenet Healthcare Corporation (NYSE: THC). Further they announced #2 Rankings (Buy) on two other widely held stocks: Pier 1 Imports, Inc. (NYSE: PIR) and Qlogic Corporation (Nasdaq: QLGC).
Here is a synopsis of why these stocks have a Zacks Rank of 1 (Strong Buy):
SanDisk Corporation (Nasdaq: SNDK) manufactures and markets flash memory storage products for the consumer electronics and industrial/communications markets. Its products are used in digital cameras, portable digital music players and smart phones, among many others. In the first quarter, SNDK climbed out of a six-quarter rut and returned to profitability. The company attributed its success to growth in sales for global retail and consumer OEMs, lower overhead expenses, as well as the sale of $5.3 million of NOR flash inventory. Analysts have been waiting for this news. They`ve been raising estimates lately and SNDK has been able to surpass them in the past five quarters. Analysts believe that SNDK`s move into the black will be the first of many.
SanDisk hat gerade eine Kopf-Schulter-Formation gebildet sowie die 200-Tage-Linie durchbrochen. Das nächste Kursziel dürfte 23 $ ein. Sind hier einige Charttechniker an Bord, die etwas zu den Indikatoren sagen können?
SanDisk Announces Third Quarter 2002 Earnings
Continuing Growth in Global Retail Sales
Wednesday October 16, 4:15 pm ET
SUNNYVALE, Calif.--(BUSINESS WIRE)--Oct. 16, 2002--SanDisk Corporation (Nasdaq:SNDK - News), the world`s largest supplier of flash memory data storage products, today announced results for its third quarter ended September 30, 2002. Total third quarter revenues were $141.1 million, compared to $127.7 million in the second quarter of 2002. Product revenues were $132.0 million, up 14% from the prior quarter. Third quarter revenues from licenses and royalties were $9.1 million, down from $12.0 million in the prior quarter. Third quarter net income was $11.3 million, or $0.16 per diluted share compared to the second quarter of $9.0 million, or $0.13 per diluted share. The third quarter effective tax rate was 39%, compared to 17% in the second quarter of 2002 and includes foreign withholding taxes on license payments received.
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Product gross margin for the third quarter was 34% compared to 27% in the second quarter of 2002. Average selling price per megabyte was relatively unchanged from the second quarter. Third quarter total units sold increased 2% and megabytes sold increased 12% compared to the previous quarter.
Total third quarter revenues increased 114% from $65.9 million in the third quarter of 2001. Product revenues increased 130% from $57.3 million in the same period of the prior year. Revenues from licenses and royalties increased $0.5 million from $8.6 million in the third quarter of 2001. The third quarter 2002 net income of $11.3 million compares to a net loss of $170.5 million, or negative $2.50 per diluted share in the third quarter of 2001.
"We are pleased with the solid performance and our financial results in the third quarter," said Dr. Eli Harari, President and CEO of SanDisk. "Retail revenues grew sequentially by 19% reflecting increased sales in all geographic regions. Major contributions came from strong sales of Secure Digital (SD) cards and Cruzer, both relatively new products commanding higher gross margins. Sales to OEM customers increased slightly over the prior quarter. New bookings during the traditionally slow summer quarter were 11% lower than bookings in the second quarter.
"Product gross margin improved to 34%, attributable to stable pricing conditions, lower product costs due primarily to a higher mix of the more cost effective MLC (Multi Level Cell) flash and the sale of $3.0 million of NOR flash inventory that was previously written off, which represented 2% of product gross margin contribution. Expense control remained good in all areas.
"During the quarter, we concluded important licensing and supply agreements with Samsung which resolved the costly litigation between us and established the framework for a productive relationship with Samsung in future years. In parallel, our FlashVision joint venture with Toshiba is on schedule to ramp up NAND flash production to meet the anticipated growth in demand for our products in future quarters. Early in October, we also announced with Toshiba our .09 micron (90 nanometer) next generation NAND flash joint development program. The 90 nanometer NAND flash is planned to deliver a lower cost, higher capacity successor in 2004 to the .13 micron NAND technology which is starting production at FlashVision in the current fourth quarter.
"Turning to the near term outlook, in recent years the fourth quarter has been our strongest quarter, driven primarily by retail sales in the traditionally strong year-end holiday sales season. We expect the same trend in the current fourth quarter. Similar to our experience last year in the same period, we anticipate that the majority of fourth quarter retail bookings and sales will occur in the second half of the quarter. Projected revenues for the fourth quarter will be driven primarily by consumer confidence, which frankly is difficult to gauge given the current political and economic market uncertainties. Income from licenses and royalties is expected to be approximately $10 million in the fourth quarter. Product gross margins are expected to be approximately 30% due to the anticipated increased availability of flash memory leading to declining average selling prices in the fourth quarter, partially offset by continuing cost reductions. Longer term, we believe that the flash markets that we address will continue to grow steadily in 2003, and we are determined to maintain the market leadership position that we have established over the past several years."
This news release contains certain forward-looking statements including our expectations for future product revenues and bookings, earnings and profitability, product demand, average selling prices, and gross margins that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate and may significantly and adversely affect our business, financial condition and results of operations. Risks that may cause these forward-looking statements to be inaccurate include among others: future average selling price erosion due to excess industry capacity and extreme price competition; increased expenses and fluctuations in operating results and yields related to the startup of flash memory wafer production for FlashVision at the Yokkaichi facility in Japan; potential delays in starting up production of NAND flash memory wafers at the FlashVision joint venture at Yokkaichi which may reduce our available supply of flash memory and cause us to not be able to meet customer demand for our flash products; our increased exposure to interruption of supply due to our increased dependence on a principal source at Yokkaichi for our supply of NAND flash memory; the current global economic conditions in general and in our markets in particular; the timely development, internal qualification and customer acceptance of new products based on the 1 Gigabit NAND MLC .16 and .13 micron flash chips that SanDisk is obligated to purchase from FlashVision; fluctuations in royalty revenues due to industry wide changes in demand for flash memory products which impact royalty bearing sales of our licensees; the timely introduction and acceptance of new consumer products that incorporate our flash storage devices; slower than expected growth in the emerging markets for our products which may result in reduced sales and increased inventory; successful management of assembly operations in China and Taiwan; the unknown economic impact of terrorist attacks and the military response thereto, or a war with Iraq; seasonality of product sales; market acceptance of our Secure Digital, Cruzer, Memory Stick and Ultra CompactFlash card products; our ability to prevail in patent litigation proceedings; and the other risks detailed from time to time in our Securities and Exchange Commission filings and reports, including, but not limited to, our Forms 10Q for the quarters ended June 30, 2002 and March 31, 2002 and the Annual Report on Form 10-K/A for the year ended December 31, 2001. Future results may differ materially from those previously reported. We assume no obligation to update the information contained in this release.
SanDisk Corporation, the world`s largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.
SanDisk`s third quarter 2002 conference call is scheduled for 2:00 p.m. PDT, Wednesday, October 16th. The phone number is (800) 500-0311. The conference call is being webcast by CCBN and can be accessed at SanDisk`s website at www.sandisk.com/IR and at www.streetevents.com for institutional investors. The webcast will be available through Wednesday, October 30, 2002. The call will also be available by replay after 6:00 p.m. PDT through Sunday, October 20, 2002, by dialing (888) 203-1112 and entering the pass code 480508.
SanDisk`s web site/home page address: http://www.sandisk.com
CompactFlash and CF are trademarks of SanDisk Corporation.
SanDisk Corporation
Condensed Consolidated Statement of Operations
(In thousands, except per share data, unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2002 2001 2002 2001
---- ---- ---- ----
Revenues:
Product $ 132,050 $ 57,305 $ 334,186 $ 233,503
License and royalty 9,078 8,582 27,259 40,859
------- ------- ------- -------
Total revenue 141,128 65,887 361,445 274,362
Cost of product sales 86,787 89,426 252,570 314,958
------- ------- ------- -------
Gross profit (loss) 54,341 (23,539) 108,875 (40,596)
Operating expenses:
Research and
development 14,026 14,660 45,849 45,231
Sales and marketing 10,742 10,664 28,607 31,415
General and
administrative 7,661 4,000 18,918 12,574
Restructuring -- 8,510 -- 8,510
------- ------- ------- -------
Total operating
expenses 32,429 37,834 93,374 97,730
Operating profit (loss) 21,912 (61,373) 15,501 (138,326)
Equity in income (loss)
of joint ventures (963) 794 284 1,301
Interest income 2,054 2,616 6,551 9,770
Interest expense (1,744) -- (5,107) --
Loss in investment
in foundries (1,201) (116,370) (1,201) (296,351)
Loss in equity
investment (900) -- (900) --
Other expense, net (639) (514) (2,622) (2,516)
------- ------- ------- -------
Income (loss) before
taxes 18,519 (174,847) 12,506 (426,122)
Provision for
(benefit from)
income taxes 7,195 (4,371) (4,124) (102,550)
------- ------- ------- -------
Net income (loss) 11,324 (170,476) 16,630 (323,572)
======= ======= ======= =======
Net income (loss)
per share
Basic 0.16 (2.50) 0.24 (4.75)
Diluted 0.16 (2.50) 0.23 (4.75)
Shares used in computing
net income (loss)
per share
Basic 68,854 68,289 68,721 68,064
Diluted 79,003 68,289 70,948 68,064
SanDisk Corporation
Condensed Consolidated Balance Sheets
(In thousands)
Sept. 30, Dec. 31,
2002 2001(a)
--------- --------
(unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $ 311,287 $ 189,499
Short-term investments 121,252 105,501
Investment in foundries 116,372 105,364
Accounts receivable, net 67,087 45,223
Inventories 79,097 55,968
Tax refund receivable 28,957 28,473
Prepaid expenses
and other current assets 13,384 12,129
--------- ---------
Total current assets 737,436 542,157
Restricted cash
and cash equivalents -- 64,734
Property and equipment, net 32,356 33,730
Investment in foundries 24,053 41,380
Restricted investment in UMC -- 64,734
Investment in FlashVision 143,453 153,168
Deferred tax asset 12,064 18,842
Deposits and
other non-current assets 13,830 13,603
--------- ---------
Total Assets $ 963,192 $ 932,348
========= =========
LIABILITIES AND STOCKHOLDERS` EQUITY:
Current Liabilities:
Accounts payable $ 33,666 $ 19,938
Accounts payable
to related parties 31,260 24,008
Accrued payroll
and related expenses 4,370 5,279
Income taxes payable 9,991 7,361
Deferred tax liability 12,064 18,842
Research & development
liability, related party 13,121 15,256
Other accrued liabilities 27,475 20,571
Deferred income on
shipments to distributors
and retailers and deferred revenue 44,673 15,806
--------- ---------
Total current liabilities 176,620 127,061
Convertible subordinated notes payable 150,000 125,000
Deferred taxes and other liabilities 7,789 4,908
Deferred revenue 20,982 --
--------- ---------
Total Liabilities 355,391 256,969
Stockholders` Equity:
Common stock 584,680 580,431
Retained earnings 65,155 48,525
Accumulated other comprehensive income (42,034) 46,423
--------- ---------
Total stockholders` equity 607,801 675,379
Total Liabilities and
Stockholders` Equity $ 963,192 $ 932,348
========= =========
Note (a): Information derived from the audited Consolidated
Financial Statements.
--------------------------------------------------------------------------------
Contact:
SanDisk Corporation
Michael Gray, 408/542-0585
--------------------------------------------------------------------------------
Source: SanDisk Corporation
Continuing Growth in Global Retail Sales
Wednesday October 16, 4:15 pm ET
SUNNYVALE, Calif.--(BUSINESS WIRE)--Oct. 16, 2002--SanDisk Corporation (Nasdaq:SNDK - News), the world`s largest supplier of flash memory data storage products, today announced results for its third quarter ended September 30, 2002. Total third quarter revenues were $141.1 million, compared to $127.7 million in the second quarter of 2002. Product revenues were $132.0 million, up 14% from the prior quarter. Third quarter revenues from licenses and royalties were $9.1 million, down from $12.0 million in the prior quarter. Third quarter net income was $11.3 million, or $0.16 per diluted share compared to the second quarter of $9.0 million, or $0.13 per diluted share. The third quarter effective tax rate was 39%, compared to 17% in the second quarter of 2002 and includes foreign withholding taxes on license payments received.
ADVERTISEMENT
Product gross margin for the third quarter was 34% compared to 27% in the second quarter of 2002. Average selling price per megabyte was relatively unchanged from the second quarter. Third quarter total units sold increased 2% and megabytes sold increased 12% compared to the previous quarter.
Total third quarter revenues increased 114% from $65.9 million in the third quarter of 2001. Product revenues increased 130% from $57.3 million in the same period of the prior year. Revenues from licenses and royalties increased $0.5 million from $8.6 million in the third quarter of 2001. The third quarter 2002 net income of $11.3 million compares to a net loss of $170.5 million, or negative $2.50 per diluted share in the third quarter of 2001.
"We are pleased with the solid performance and our financial results in the third quarter," said Dr. Eli Harari, President and CEO of SanDisk. "Retail revenues grew sequentially by 19% reflecting increased sales in all geographic regions. Major contributions came from strong sales of Secure Digital (SD) cards and Cruzer, both relatively new products commanding higher gross margins. Sales to OEM customers increased slightly over the prior quarter. New bookings during the traditionally slow summer quarter were 11% lower than bookings in the second quarter.
"Product gross margin improved to 34%, attributable to stable pricing conditions, lower product costs due primarily to a higher mix of the more cost effective MLC (Multi Level Cell) flash and the sale of $3.0 million of NOR flash inventory that was previously written off, which represented 2% of product gross margin contribution. Expense control remained good in all areas.
"During the quarter, we concluded important licensing and supply agreements with Samsung which resolved the costly litigation between us and established the framework for a productive relationship with Samsung in future years. In parallel, our FlashVision joint venture with Toshiba is on schedule to ramp up NAND flash production to meet the anticipated growth in demand for our products in future quarters. Early in October, we also announced with Toshiba our .09 micron (90 nanometer) next generation NAND flash joint development program. The 90 nanometer NAND flash is planned to deliver a lower cost, higher capacity successor in 2004 to the .13 micron NAND technology which is starting production at FlashVision in the current fourth quarter.
"Turning to the near term outlook, in recent years the fourth quarter has been our strongest quarter, driven primarily by retail sales in the traditionally strong year-end holiday sales season. We expect the same trend in the current fourth quarter. Similar to our experience last year in the same period, we anticipate that the majority of fourth quarter retail bookings and sales will occur in the second half of the quarter. Projected revenues for the fourth quarter will be driven primarily by consumer confidence, which frankly is difficult to gauge given the current political and economic market uncertainties. Income from licenses and royalties is expected to be approximately $10 million in the fourth quarter. Product gross margins are expected to be approximately 30% due to the anticipated increased availability of flash memory leading to declining average selling prices in the fourth quarter, partially offset by continuing cost reductions. Longer term, we believe that the flash markets that we address will continue to grow steadily in 2003, and we are determined to maintain the market leadership position that we have established over the past several years."
This news release contains certain forward-looking statements including our expectations for future product revenues and bookings, earnings and profitability, product demand, average selling prices, and gross margins that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate and may significantly and adversely affect our business, financial condition and results of operations. Risks that may cause these forward-looking statements to be inaccurate include among others: future average selling price erosion due to excess industry capacity and extreme price competition; increased expenses and fluctuations in operating results and yields related to the startup of flash memory wafer production for FlashVision at the Yokkaichi facility in Japan; potential delays in starting up production of NAND flash memory wafers at the FlashVision joint venture at Yokkaichi which may reduce our available supply of flash memory and cause us to not be able to meet customer demand for our flash products; our increased exposure to interruption of supply due to our increased dependence on a principal source at Yokkaichi for our supply of NAND flash memory; the current global economic conditions in general and in our markets in particular; the timely development, internal qualification and customer acceptance of new products based on the 1 Gigabit NAND MLC .16 and .13 micron flash chips that SanDisk is obligated to purchase from FlashVision; fluctuations in royalty revenues due to industry wide changes in demand for flash memory products which impact royalty bearing sales of our licensees; the timely introduction and acceptance of new consumer products that incorporate our flash storage devices; slower than expected growth in the emerging markets for our products which may result in reduced sales and increased inventory; successful management of assembly operations in China and Taiwan; the unknown economic impact of terrorist attacks and the military response thereto, or a war with Iraq; seasonality of product sales; market acceptance of our Secure Digital, Cruzer, Memory Stick and Ultra CompactFlash card products; our ability to prevail in patent litigation proceedings; and the other risks detailed from time to time in our Securities and Exchange Commission filings and reports, including, but not limited to, our Forms 10Q for the quarters ended June 30, 2002 and March 31, 2002 and the Annual Report on Form 10-K/A for the year ended December 31, 2001. Future results may differ materially from those previously reported. We assume no obligation to update the information contained in this release.
SanDisk Corporation, the world`s largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.
SanDisk`s third quarter 2002 conference call is scheduled for 2:00 p.m. PDT, Wednesday, October 16th. The phone number is (800) 500-0311. The conference call is being webcast by CCBN and can be accessed at SanDisk`s website at www.sandisk.com/IR and at www.streetevents.com for institutional investors. The webcast will be available through Wednesday, October 30, 2002. The call will also be available by replay after 6:00 p.m. PDT through Sunday, October 20, 2002, by dialing (888) 203-1112 and entering the pass code 480508.
SanDisk`s web site/home page address: http://www.sandisk.com
CompactFlash and CF are trademarks of SanDisk Corporation.
SanDisk Corporation
Condensed Consolidated Statement of Operations
(In thousands, except per share data, unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2002 2001 2002 2001
---- ---- ---- ----
Revenues:
Product $ 132,050 $ 57,305 $ 334,186 $ 233,503
License and royalty 9,078 8,582 27,259 40,859
------- ------- ------- -------
Total revenue 141,128 65,887 361,445 274,362
Cost of product sales 86,787 89,426 252,570 314,958
------- ------- ------- -------
Gross profit (loss) 54,341 (23,539) 108,875 (40,596)
Operating expenses:
Research and
development 14,026 14,660 45,849 45,231
Sales and marketing 10,742 10,664 28,607 31,415
General and
administrative 7,661 4,000 18,918 12,574
Restructuring -- 8,510 -- 8,510
------- ------- ------- -------
Total operating
expenses 32,429 37,834 93,374 97,730
Operating profit (loss) 21,912 (61,373) 15,501 (138,326)
Equity in income (loss)
of joint ventures (963) 794 284 1,301
Interest income 2,054 2,616 6,551 9,770
Interest expense (1,744) -- (5,107) --
Loss in investment
in foundries (1,201) (116,370) (1,201) (296,351)
Loss in equity
investment (900) -- (900) --
Other expense, net (639) (514) (2,622) (2,516)
------- ------- ------- -------
Income (loss) before
taxes 18,519 (174,847) 12,506 (426,122)
Provision for
(benefit from)
income taxes 7,195 (4,371) (4,124) (102,550)
------- ------- ------- -------
Net income (loss) 11,324 (170,476) 16,630 (323,572)
======= ======= ======= =======
Net income (loss)
per share
Basic 0.16 (2.50) 0.24 (4.75)
Diluted 0.16 (2.50) 0.23 (4.75)
Shares used in computing
net income (loss)
per share
Basic 68,854 68,289 68,721 68,064
Diluted 79,003 68,289 70,948 68,064
SanDisk Corporation
Condensed Consolidated Balance Sheets
(In thousands)
Sept. 30, Dec. 31,
2002 2001(a)
--------- --------
(unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $ 311,287 $ 189,499
Short-term investments 121,252 105,501
Investment in foundries 116,372 105,364
Accounts receivable, net 67,087 45,223
Inventories 79,097 55,968
Tax refund receivable 28,957 28,473
Prepaid expenses
and other current assets 13,384 12,129
--------- ---------
Total current assets 737,436 542,157
Restricted cash
and cash equivalents -- 64,734
Property and equipment, net 32,356 33,730
Investment in foundries 24,053 41,380
Restricted investment in UMC -- 64,734
Investment in FlashVision 143,453 153,168
Deferred tax asset 12,064 18,842
Deposits and
other non-current assets 13,830 13,603
--------- ---------
Total Assets $ 963,192 $ 932,348
========= =========
LIABILITIES AND STOCKHOLDERS` EQUITY:
Current Liabilities:
Accounts payable $ 33,666 $ 19,938
Accounts payable
to related parties 31,260 24,008
Accrued payroll
and related expenses 4,370 5,279
Income taxes payable 9,991 7,361
Deferred tax liability 12,064 18,842
Research & development
liability, related party 13,121 15,256
Other accrued liabilities 27,475 20,571
Deferred income on
shipments to distributors
and retailers and deferred revenue 44,673 15,806
--------- ---------
Total current liabilities 176,620 127,061
Convertible subordinated notes payable 150,000 125,000
Deferred taxes and other liabilities 7,789 4,908
Deferred revenue 20,982 --
--------- ---------
Total Liabilities 355,391 256,969
Stockholders` Equity:
Common stock 584,680 580,431
Retained earnings 65,155 48,525
Accumulated other comprehensive income (42,034) 46,423
--------- ---------
Total stockholders` equity 607,801 675,379
Total Liabilities and
Stockholders` Equity $ 963,192 $ 932,348
========= =========
Note (a): Information derived from the audited Consolidated
Financial Statements.
--------------------------------------------------------------------------------
Contact:
SanDisk Corporation
Michael Gray, 408/542-0585
--------------------------------------------------------------------------------
Source: SanDisk Corporation
SanDisk Announces Fourth Quarter and Fiscal 2002 Earnings
Wednesday January 22, 4:16 pm ET
Record Quarterly Revenues Driven by Strong Growth in Retail Sales And Royalties
SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 22, 2003--SanDisk Corporation (Nasdaq:SNDK - News), the world`s largest supplier of flash memory data storage products, today announced results for its fourth quarter ended December 31, 2002. Total fourth quarter revenues were a record $179.8 million, up 27% sequentially from the prior quarter. Product revenues were $158.7 million, up 20% sequentially. Retail sales increased 35% and represented 69% of product sales, while OEM/Industrial sales declined 4% relative to the prior quarter due to continuing weakness in the Industrial/Telecom sector. Fourth quarter revenues from licenses and royalties were $21.1 million, up 133% sequentially due primarily to increased royalty-bearing sales by licensees. Product gross margin was a record 37%, up from 34% in the prior quarter. The average price per megabyte sold declined 15% sequentially. Fourth quarter units sold increased 21% and megabytes sold increased 43% compared to the previous quarter, both representing new record levels. Fourth quarter net income was $19.6 million, up 73% sequentially. Earnings per share were $0.26 per diluted share, up 63% sequentially and are net of unrealized losses of $15.8 million, before tax, or $0.20 per share, due to revaluation of the Company`s equity investments in Tower Semiconductor and Divio.
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Total revenue for fiscal 2002 was $541.3 million, up 48% from $366.3 million in 2001. Product revenues were $492.9 million, up 56% from $316.9 million in 2001. Revenues from licenses and royalties were $48.4 million, down 2% from $49.4 million in 2001. Net income was $36.2 million, compared to a net loss of $297.9 million in 2001. The net loss in 2001 included other-than-temporary impairment charges of $302.3 million, or $188.1 million net of tax. Earnings per share for fiscal 2002 were $0.51 per diluted share, which compared to a net loss of $4.37 per diluted share in 2001.
Product revenues for the fourth quarter of 2002 increased 90% and the average selling price per megabyte declined 31% compared to the fourth quarter of 2001. The increase in revenue was driven by growth in units sold of 112% and in megabytes sold of 203% over the comparable period in 2001. Operating income totaled $42.6 million for the fourth quarter of 2002, compared to an operating loss of $14.7 million for the fourth quarter of 2001.
Net cash from operations was $40.9 million and $105.7 million for the fourth quarter and fiscal 2002, respectively. The Company`s cash and short-term investment position increased $96.8 million or 33% from the prior year.
In the fourth quarter, retail revenues showed particularly strong growth in the US and Pacific Rim regions, with strong contributions from Compact Flash (CF), Secure Digital (SD) and Smart Media cards. SD card sales increased 82% from the prior quarter. Digital cameras were one of the hottest consumer electronics sellers this holiday season and SanDisk was a direct beneficiary because of its broad line of card products and its global distribution channels.
The product gross margin improvement in the fourth quarter was attributable to cost efficiencies from higher sales levels, increased sales of MLC (Multi Level Cell) flash, as well as the sale of $3.6 million of NOR flash inventory that was previously written off, which represented 2% of product gross margin contribution.
"We are exceptionally pleased with the fourth quarter results," said Eli Harari, President and CEO of SanDisk Corporation. "The outlook for 2003 is encouraging despite an anticipated seasonal decline in the first quarter sales compared to the traditionally strong fourth quarter. We believe the markets that we address are relatively young and according to market forecasts are projected to grow at a fast pace in the next few years, thus spurring sales growth for our products. We plan to launch in 2003 a number of new and exciting products, some of which were announced at the January Consumer Electronics Show in Las Vegas. In addition to the growing markets for our cards used in digital cameras and other digital consumer products, we continue to see strong design win activities, which we believe will give us increased penetration into new markets in 2003, such as advanced cell phones and embedded flash components. We believe that our ongoing transition from .16 micron to .13 micron NAND flash and MLC technology will allow us to continue our focus on aggressive cost reductions to give us a competitive cost structure. Despite the potential for near term pricing pressures, we are optimistic about the prospects for positive growth in our business in 2003."
This news release contains certain forward-looking statements including our expectations for future design wins, new product introductions, future product revenues and bookings, earnings and profitability, product demand, average selling prices, and gross margins that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate and may significantly and adversely affect our business, financial condition and results of operations. Risks that may cause these forward-looking statements to be inaccurate include among others: future average selling price erosion due to excess industry capacity and extreme price competition; increased expenses and fluctuations in operating results and yields related to the startup of .13 micron flash memory wafer production for FlashVision at the Yokkaichi facility in Japan; our increased exposure to interruption of supply due to our increased dependence on a principal source at Yokkaichi for our supply of NAND flash memory; the current global economic conditions in general and in our markets in particular; the timely development, internal qualification and customer acceptance of new products based on the NAND MLC .13 micron flash chips that SanDisk is obligated to purchase from FlashVision; fluctuations in royalty revenues due to industry wide changes in demand for flash memory products which impact royalty bearing sales of our licensees; the timely introduction and acceptance of new consumer products that incorporate our flash storage devices; slower than expected growth in the emerging markets for our products which may result in reduced sales and increased inventory; successful management of assembly operations in China and Taiwan; the unknown economic impact of terrorist attacks and the military response thereto, or a war with Iraq or in the Korean peninsula; seasonality of product sales; market acceptance of our Secure Digital, Cruzer, Memory Stick and Ultra CompactFlash card products; our ability to prevail in patent litigation proceedings; further impairment of our investments in Tower Semiconductor Ltd. and Divio, Inc. due to further decline in the stock valuation of either of these companies and the other risks detailed from time to time in our Securities and Exchange Commission filings and reports, including, but not limited to, our Form 10Q for the quarters ended September 30, 2002, and the Annual Report on Form 10-K/A for the year ended December 31, 2001. Future results may differ materially from those previously reported. We assume no obligation to update the information contained in this release.
SanDisk Corporation, the world`s largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.
SanDisk`s fourth quarter and fiscal 2002 conference call is scheduled for 2:00 p.m. Pacific Time, Wednesday, January 22nd. The phone number is (800) 500-0177. The conference call is being webcast by CCBN and can be accessed at SanDisk`s website at www.sandisk.com/IR and at www.streetevents.com for institutional investors. The webcast will be available through Wednesday, January 29, 2003. The call will also be available by replay after 6:00 p.m. Pacific Time through Sunday, January 26, 2003, by dialing (888) 203-1112 and entering the pass code 517561.
SanDisk`s web site / home page address: http:/ / www.sandisk.com
Note to Editors: All trade names are either registered trademarks or trademarks of their respective holders.
-0-
SanDisk Corporation
Condensed Consolidated Statement of Operations
(In thousands, except per share data, unaudited)
Three Months Ended Twelve Months Ended
December 31, December 31,
2002 2001 2002 2001
Revenues:
Product $158,714 $ 83,364 $492,900 $316,867
License and royalty 21,114 8,575 48,373 49,434
--------- --------- --------- ---------
Total revenue 179,828 91,939 541,273 366,301
Cost of product sales 99,882 77,335 352,452 392,293
--------- --------- --------- ---------
Gross profit (loss) 79,946 14,604 188,821 (25,992)
Operating expenses:
Research and development 17,328 13,700 63,177 58,931
Sales and marketing 11,800 11,161 40,407 42,576
General and administrative 8,168 4,407 27,086 16,981
Restructuring -- -- -- 8,510
--------- --------- --------- ---------
Total operating expenses 37,296 29,268 130,670 126,998
Operating profit (loss) 42,650 (14,664) 58,151 (152,990)
Equity in income of joint
ventures 572 781 856 2,082
Interest income 2,124 2,496 8,675 12,404
Interest expense (1,593) (109) (6,700) (138)
Loss in investment
in foundries (13,962) (5,942) (15,163) (302,293)
Loss in equity investment (1,800) -- (2,700) --
Other(expense) income, net (518) 1,616 (3,140) (1,009)
--------- --------- --------- ---------
Income (loss) before taxes 27,473 (15,822) 39,979 (441,944)
Provision for
(benefit from)
income taxes 7,863 (41,450) 3,739 (144,000)
--------- --------- --------- ---------
Net income (loss) $ 19,610 $ 25,628 $ 36,240 ($297,944)
========= ========= ========= =========
Net income (loss)
per share
Basic $ 0.28 $ 0.37 $ 0.53 ($ 4.37)
Diluted $ 0.26 $ 0.36 $ 0.51 ($ 4.37)
Shares used in computing
net income (loss)
per share
Basic 69,057 68,401 68,805 68,148
Diluted 80,213 70,716 71,230 68,148
SanDisk Corporation
Condensed Consolidated Balance Sheets
(In thousands)
December 31, December 31,
2002 2001*
(unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $266,635 $189,499
Short-term investments 189,856 105,501
Investment in foundries 110,069 105,364
Accounts receivable, net 81,086 45,223
Inventories 91,195 57,881
Tax refund receivable 1,563 28,473
Prepaid expenses and other current assets 16,926 12,129
--------- ---------
Total current assets 757,330 544,070
Restricted cash and cash equivalents -- 64,734
Property and equipment, net 30,307 33,730
Investment in foundries 24,197 41,380
Restricted investment in UMC -- 64,734
Investment in FlashVision 142,825 153,168
Deferred tax asset 6,922 18,842
Deposits and other non-current assets 14,598 13,603
--------- ---------
Total Assets $976,179 $934,261
========= =========
LIABILITIES AND STOCKHOLDERS` EQUITY:
Current Liabilities:
Accounts payable $ 29,323 $ 19,938
Accounts payable to related parties 29,113 24,008
Accrued payroll and related expenses 11,690 5,279
Income taxes payable 15,978 12,269
Deferred tax liability 6,922 18,842
Research & development liability,
related party 6,714 15,256
Other accrued liabilities 29,380 22,484
Deferred income on shipments to
distributors and retailers and
deferred revenue 43,760 11,613
--------- ---------
Total current liabilities 172,880 129,689
Convertible subordinated notes payable 150,000 125,000
Other non-current liabilities 2,404 --
Deferred revenue 23,175 4,193
--------- ---------
Total Liabilities 348,459 258,882
Stockholders` Equity:
Common stock 585,968 580,431
Retained earnings 84,765 48,525
Accumulated other comprehensive
(loss) income (43,013) 46,423
--------- ---------
Total stockholders` equity 627,720 675,379
Total Liabilities and
Stockholders` Equity $976,179 $934,261
========= =========
*Information derived from the audited Consolidated Financial
Statements.
--------------------------------------------------------------------------------
Contact:
SanDisk Corporation
Michael Gray, 408/542-0585 (Senior VP Finance and CFO)
--------------------------------------------------------------------------------
Source: SanDisk
Wednesday January 22, 4:16 pm ET
Record Quarterly Revenues Driven by Strong Growth in Retail Sales And Royalties
SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 22, 2003--SanDisk Corporation (Nasdaq:SNDK - News), the world`s largest supplier of flash memory data storage products, today announced results for its fourth quarter ended December 31, 2002. Total fourth quarter revenues were a record $179.8 million, up 27% sequentially from the prior quarter. Product revenues were $158.7 million, up 20% sequentially. Retail sales increased 35% and represented 69% of product sales, while OEM/Industrial sales declined 4% relative to the prior quarter due to continuing weakness in the Industrial/Telecom sector. Fourth quarter revenues from licenses and royalties were $21.1 million, up 133% sequentially due primarily to increased royalty-bearing sales by licensees. Product gross margin was a record 37%, up from 34% in the prior quarter. The average price per megabyte sold declined 15% sequentially. Fourth quarter units sold increased 21% and megabytes sold increased 43% compared to the previous quarter, both representing new record levels. Fourth quarter net income was $19.6 million, up 73% sequentially. Earnings per share were $0.26 per diluted share, up 63% sequentially and are net of unrealized losses of $15.8 million, before tax, or $0.20 per share, due to revaluation of the Company`s equity investments in Tower Semiconductor and Divio.
ADVERTISEMENT
Total revenue for fiscal 2002 was $541.3 million, up 48% from $366.3 million in 2001. Product revenues were $492.9 million, up 56% from $316.9 million in 2001. Revenues from licenses and royalties were $48.4 million, down 2% from $49.4 million in 2001. Net income was $36.2 million, compared to a net loss of $297.9 million in 2001. The net loss in 2001 included other-than-temporary impairment charges of $302.3 million, or $188.1 million net of tax. Earnings per share for fiscal 2002 were $0.51 per diluted share, which compared to a net loss of $4.37 per diluted share in 2001.
Product revenues for the fourth quarter of 2002 increased 90% and the average selling price per megabyte declined 31% compared to the fourth quarter of 2001. The increase in revenue was driven by growth in units sold of 112% and in megabytes sold of 203% over the comparable period in 2001. Operating income totaled $42.6 million for the fourth quarter of 2002, compared to an operating loss of $14.7 million for the fourth quarter of 2001.
Net cash from operations was $40.9 million and $105.7 million for the fourth quarter and fiscal 2002, respectively. The Company`s cash and short-term investment position increased $96.8 million or 33% from the prior year.
In the fourth quarter, retail revenues showed particularly strong growth in the US and Pacific Rim regions, with strong contributions from Compact Flash (CF), Secure Digital (SD) and Smart Media cards. SD card sales increased 82% from the prior quarter. Digital cameras were one of the hottest consumer electronics sellers this holiday season and SanDisk was a direct beneficiary because of its broad line of card products and its global distribution channels.
The product gross margin improvement in the fourth quarter was attributable to cost efficiencies from higher sales levels, increased sales of MLC (Multi Level Cell) flash, as well as the sale of $3.6 million of NOR flash inventory that was previously written off, which represented 2% of product gross margin contribution.
"We are exceptionally pleased with the fourth quarter results," said Eli Harari, President and CEO of SanDisk Corporation. "The outlook for 2003 is encouraging despite an anticipated seasonal decline in the first quarter sales compared to the traditionally strong fourth quarter. We believe the markets that we address are relatively young and according to market forecasts are projected to grow at a fast pace in the next few years, thus spurring sales growth for our products. We plan to launch in 2003 a number of new and exciting products, some of which were announced at the January Consumer Electronics Show in Las Vegas. In addition to the growing markets for our cards used in digital cameras and other digital consumer products, we continue to see strong design win activities, which we believe will give us increased penetration into new markets in 2003, such as advanced cell phones and embedded flash components. We believe that our ongoing transition from .16 micron to .13 micron NAND flash and MLC technology will allow us to continue our focus on aggressive cost reductions to give us a competitive cost structure. Despite the potential for near term pricing pressures, we are optimistic about the prospects for positive growth in our business in 2003."
This news release contains certain forward-looking statements including our expectations for future design wins, new product introductions, future product revenues and bookings, earnings and profitability, product demand, average selling prices, and gross margins that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate and may significantly and adversely affect our business, financial condition and results of operations. Risks that may cause these forward-looking statements to be inaccurate include among others: future average selling price erosion due to excess industry capacity and extreme price competition; increased expenses and fluctuations in operating results and yields related to the startup of .13 micron flash memory wafer production for FlashVision at the Yokkaichi facility in Japan; our increased exposure to interruption of supply due to our increased dependence on a principal source at Yokkaichi for our supply of NAND flash memory; the current global economic conditions in general and in our markets in particular; the timely development, internal qualification and customer acceptance of new products based on the NAND MLC .13 micron flash chips that SanDisk is obligated to purchase from FlashVision; fluctuations in royalty revenues due to industry wide changes in demand for flash memory products which impact royalty bearing sales of our licensees; the timely introduction and acceptance of new consumer products that incorporate our flash storage devices; slower than expected growth in the emerging markets for our products which may result in reduced sales and increased inventory; successful management of assembly operations in China and Taiwan; the unknown economic impact of terrorist attacks and the military response thereto, or a war with Iraq or in the Korean peninsula; seasonality of product sales; market acceptance of our Secure Digital, Cruzer, Memory Stick and Ultra CompactFlash card products; our ability to prevail in patent litigation proceedings; further impairment of our investments in Tower Semiconductor Ltd. and Divio, Inc. due to further decline in the stock valuation of either of these companies and the other risks detailed from time to time in our Securities and Exchange Commission filings and reports, including, but not limited to, our Form 10Q for the quarters ended September 30, 2002, and the Annual Report on Form 10-K/A for the year ended December 31, 2001. Future results may differ materially from those previously reported. We assume no obligation to update the information contained in this release.
SanDisk Corporation, the world`s largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.
SanDisk`s fourth quarter and fiscal 2002 conference call is scheduled for 2:00 p.m. Pacific Time, Wednesday, January 22nd. The phone number is (800) 500-0177. The conference call is being webcast by CCBN and can be accessed at SanDisk`s website at www.sandisk.com/IR and at www.streetevents.com for institutional investors. The webcast will be available through Wednesday, January 29, 2003. The call will also be available by replay after 6:00 p.m. Pacific Time through Sunday, January 26, 2003, by dialing (888) 203-1112 and entering the pass code 517561.
SanDisk`s web site / home page address: http:/ / www.sandisk.com
Note to Editors: All trade names are either registered trademarks or trademarks of their respective holders.
-0-
SanDisk Corporation
Condensed Consolidated Statement of Operations
(In thousands, except per share data, unaudited)
Three Months Ended Twelve Months Ended
December 31, December 31,
2002 2001 2002 2001
Revenues:
Product $158,714 $ 83,364 $492,900 $316,867
License and royalty 21,114 8,575 48,373 49,434
--------- --------- --------- ---------
Total revenue 179,828 91,939 541,273 366,301
Cost of product sales 99,882 77,335 352,452 392,293
--------- --------- --------- ---------
Gross profit (loss) 79,946 14,604 188,821 (25,992)
Operating expenses:
Research and development 17,328 13,700 63,177 58,931
Sales and marketing 11,800 11,161 40,407 42,576
General and administrative 8,168 4,407 27,086 16,981
Restructuring -- -- -- 8,510
--------- --------- --------- ---------
Total operating expenses 37,296 29,268 130,670 126,998
Operating profit (loss) 42,650 (14,664) 58,151 (152,990)
Equity in income of joint
ventures 572 781 856 2,082
Interest income 2,124 2,496 8,675 12,404
Interest expense (1,593) (109) (6,700) (138)
Loss in investment
in foundries (13,962) (5,942) (15,163) (302,293)
Loss in equity investment (1,800) -- (2,700) --
Other(expense) income, net (518) 1,616 (3,140) (1,009)
--------- --------- --------- ---------
Income (loss) before taxes 27,473 (15,822) 39,979 (441,944)
Provision for
(benefit from)
income taxes 7,863 (41,450) 3,739 (144,000)
--------- --------- --------- ---------
Net income (loss) $ 19,610 $ 25,628 $ 36,240 ($297,944)
========= ========= ========= =========
Net income (loss)
per share
Basic $ 0.28 $ 0.37 $ 0.53 ($ 4.37)
Diluted $ 0.26 $ 0.36 $ 0.51 ($ 4.37)
Shares used in computing
net income (loss)
per share
Basic 69,057 68,401 68,805 68,148
Diluted 80,213 70,716 71,230 68,148
SanDisk Corporation
Condensed Consolidated Balance Sheets
(In thousands)
December 31, December 31,
2002 2001*
(unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $266,635 $189,499
Short-term investments 189,856 105,501
Investment in foundries 110,069 105,364
Accounts receivable, net 81,086 45,223
Inventories 91,195 57,881
Tax refund receivable 1,563 28,473
Prepaid expenses and other current assets 16,926 12,129
--------- ---------
Total current assets 757,330 544,070
Restricted cash and cash equivalents -- 64,734
Property and equipment, net 30,307 33,730
Investment in foundries 24,197 41,380
Restricted investment in UMC -- 64,734
Investment in FlashVision 142,825 153,168
Deferred tax asset 6,922 18,842
Deposits and other non-current assets 14,598 13,603
--------- ---------
Total Assets $976,179 $934,261
========= =========
LIABILITIES AND STOCKHOLDERS` EQUITY:
Current Liabilities:
Accounts payable $ 29,323 $ 19,938
Accounts payable to related parties 29,113 24,008
Accrued payroll and related expenses 11,690 5,279
Income taxes payable 15,978 12,269
Deferred tax liability 6,922 18,842
Research & development liability,
related party 6,714 15,256
Other accrued liabilities 29,380 22,484
Deferred income on shipments to
distributors and retailers and
deferred revenue 43,760 11,613
--------- ---------
Total current liabilities 172,880 129,689
Convertible subordinated notes payable 150,000 125,000
Other non-current liabilities 2,404 --
Deferred revenue 23,175 4,193
--------- ---------
Total Liabilities 348,459 258,882
Stockholders` Equity:
Common stock 585,968 580,431
Retained earnings 84,765 48,525
Accumulated other comprehensive
(loss) income (43,013) 46,423
--------- ---------
Total stockholders` equity 627,720 675,379
Total Liabilities and
Stockholders` Equity $976,179 $934,261
========= =========
*Information derived from the audited Consolidated Financial
Statements.
--------------------------------------------------------------------------------
Contact:
SanDisk Corporation
Michael Gray, 408/542-0585 (Senior VP Finance and CFO)
--------------------------------------------------------------------------------
Source: SanDisk
SanDisk and Sony Expand the Scope of Their Memory Stick Cooperation with a New Cross License Agreement
Monday June 16, 7:00 pm ET
SUNNYVALE, Calif., and TOKYO--(BUSINESS WIRE)--June 16, 2003--SanDisk Corporation (Nasdaq:SNDK - News)
ADVERTISEMENT
Agreement Strengthens Relationship Between The Two Companies:
SanDisk and Sony to Further Expand Memory Stick World
SanDisk Corporation (Nasdaq:SNDK - News) and Sony Corporation (NYSE:SNE - News) today announced that the two companies have signed a cross licensing agreement.
This agreement enhances the close relationship that SanDisk and Sony have built over the last two years since their initial September 2001 collaboration agreement to offer Memory Stick media. The initial agreement was followed by a January 2003 announcement highlighting joint SanDisk and Sony development of Memory Stick PRO(TM) media designed to realize new levels of performance, such as real-time recording of high-resolution moving images.
SanDisk holds a right to manufacture Memory Stick PRO media, based on the January 2003 announcement. The cross licensing agreement enhances the relationship and expands the cooperation between SanDisk and Sony to cover various Memory Stick products. This agreement will allow SanDisk to manufacture and sell Memory Stick that include Memory Stick(TM), Memory Stick Duo(TM), Memory Stick(TM) with Memory Select Function and Memory Stick(TM) I/O cards under the SanDisk brand. SanDisk will begin to manufacture Memory Stick media under the new cross licensing agreement in the second quarter of 2003.
Based on the agreement, SanDisk and Sony will further promote Memory Stick throughout the industry respectively. The Memory Stick format will gain additional support to pursue its position as an industry standard and provide users with a wider choice of media and compatible products.
Eli Harari, SanDisk president and CEO, said, "We value our close relationship with Sony and the enhanced scope of cooperation that this announcement signifies. The manufacturing license is important to SanDisk`s customers because it will allow us to supply Memory Stick, Memory Stick PRO and Duo products to both our retail and our OEM customers. Sony and SanDisk share a common vision for exciting new digital audio, imaging and video applications as well as the latest mobile phones and other multimedia-rich devices that require Memory Stick media."
Teruaki Aoki, Corporate Executive Vice President of Sony Corporation, said, "This announcement signifies the broadening and natural progression of the relationship between SanDisk and Sony. We are very pleased to have SanDisk manufacture Memory Stick products to help further expansion of Memory Stick`s connected world among a variety of compatible products and meet growing market demand. SanDisk`s flash card expertise and high quality manufacturing will help enhance the strong position of Memory Stick as a global standard for digital recording media."
Memory Stick products enjoy a share in excess of 25% of the total market for removable flash storage cards(a). SanDisk has been selling SanDisk-branded Memory Stick products since 2001 and is a co-developer with Sony of Memory Stick PRO.
Since its market introduction in September 1998, Memory Stick has evolved from storage media for still images and computer data into broad networking media for recording diverse content, including copyrighted material, and sharing it among the widest possible variety of products. To meet growing consumer needs, Memory Stick has been adopted in more than 600 models and across more than 60 product categories. Worldwide cumulative shipments of Memory Stick media reached 39 million units, and shipments of Memory Stick compliant products reached 40 million units as of April 2003.
SanDisk Corporation, the world`s largest supplier of flash data storage card products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, Calif.
Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be the leading personal broadband entertainment company in the world. Sony recorded consolidated annual sales of approximately $62 billion for the fiscal year ended March 31, 2003.
(a) Source: International Data Corporation, 2003
The matters discussed in this news release contain forward looking statements that are subject to certain risks and uncertainties as described under the caption, "Factors That May Affect Future Results" in the company`s annual report on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. The companies assume no obligation to update the information in this release.
All trade names are either registered trademarks or trademarks of their respective holders.
For more information or images on SanDisk and its products, contact: www.sandisk.com.
Sony Global Web Site: http://www.sony.net/
Memory Stick official web site: http://www.memorystick.com
--------------------------------------------------------------------------------
Contact:
SanDisk Corporation
Mike Wong, 408/548-0223
mwong@sandisk.com
or
SanDisk KK (Japan)
Hitoko Masunaga, 81-45-474-0271
hmasunaga@sandisk.com
or
Sony Electronics Inc.
Rosemary Flynn, 858/942-7763
rosemary.flynn@am.sony.com
or
Sony Corporation
Aki Shimazu, 81-3-5448-2200
aki.shimazu@jp.sony.com
--------------------------------------------------------------------------------
Source: SanDisk Corporation
Monday June 16, 7:00 pm ET
SUNNYVALE, Calif., and TOKYO--(BUSINESS WIRE)--June 16, 2003--SanDisk Corporation (Nasdaq:SNDK - News)
ADVERTISEMENT
Agreement Strengthens Relationship Between The Two Companies:
SanDisk and Sony to Further Expand Memory Stick World
SanDisk Corporation (Nasdaq:SNDK - News) and Sony Corporation (NYSE:SNE - News) today announced that the two companies have signed a cross licensing agreement.
This agreement enhances the close relationship that SanDisk and Sony have built over the last two years since their initial September 2001 collaboration agreement to offer Memory Stick media. The initial agreement was followed by a January 2003 announcement highlighting joint SanDisk and Sony development of Memory Stick PRO(TM) media designed to realize new levels of performance, such as real-time recording of high-resolution moving images.
SanDisk holds a right to manufacture Memory Stick PRO media, based on the January 2003 announcement. The cross licensing agreement enhances the relationship and expands the cooperation between SanDisk and Sony to cover various Memory Stick products. This agreement will allow SanDisk to manufacture and sell Memory Stick that include Memory Stick(TM), Memory Stick Duo(TM), Memory Stick(TM) with Memory Select Function and Memory Stick(TM) I/O cards under the SanDisk brand. SanDisk will begin to manufacture Memory Stick media under the new cross licensing agreement in the second quarter of 2003.
Based on the agreement, SanDisk and Sony will further promote Memory Stick throughout the industry respectively. The Memory Stick format will gain additional support to pursue its position as an industry standard and provide users with a wider choice of media and compatible products.
Eli Harari, SanDisk president and CEO, said, "We value our close relationship with Sony and the enhanced scope of cooperation that this announcement signifies. The manufacturing license is important to SanDisk`s customers because it will allow us to supply Memory Stick, Memory Stick PRO and Duo products to both our retail and our OEM customers. Sony and SanDisk share a common vision for exciting new digital audio, imaging and video applications as well as the latest mobile phones and other multimedia-rich devices that require Memory Stick media."
Teruaki Aoki, Corporate Executive Vice President of Sony Corporation, said, "This announcement signifies the broadening and natural progression of the relationship between SanDisk and Sony. We are very pleased to have SanDisk manufacture Memory Stick products to help further expansion of Memory Stick`s connected world among a variety of compatible products and meet growing market demand. SanDisk`s flash card expertise and high quality manufacturing will help enhance the strong position of Memory Stick as a global standard for digital recording media."
Memory Stick products enjoy a share in excess of 25% of the total market for removable flash storage cards(a). SanDisk has been selling SanDisk-branded Memory Stick products since 2001 and is a co-developer with Sony of Memory Stick PRO.
Since its market introduction in September 1998, Memory Stick has evolved from storage media for still images and computer data into broad networking media for recording diverse content, including copyrighted material, and sharing it among the widest possible variety of products. To meet growing consumer needs, Memory Stick has been adopted in more than 600 models and across more than 60 product categories. Worldwide cumulative shipments of Memory Stick media reached 39 million units, and shipments of Memory Stick compliant products reached 40 million units as of April 2003.
SanDisk Corporation, the world`s largest supplier of flash data storage card products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, Calif.
Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be the leading personal broadband entertainment company in the world. Sony recorded consolidated annual sales of approximately $62 billion for the fiscal year ended March 31, 2003.
(a) Source: International Data Corporation, 2003
The matters discussed in this news release contain forward looking statements that are subject to certain risks and uncertainties as described under the caption, "Factors That May Affect Future Results" in the company`s annual report on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. The companies assume no obligation to update the information in this release.
All trade names are either registered trademarks or trademarks of their respective holders.
For more information or images on SanDisk and its products, contact: www.sandisk.com.
Sony Global Web Site: http://www.sony.net/
Memory Stick official web site: http://www.memorystick.com
--------------------------------------------------------------------------------
Contact:
SanDisk Corporation
Mike Wong, 408/548-0223
mwong@sandisk.com
or
SanDisk KK (Japan)
Hitoko Masunaga, 81-45-474-0271
hmasunaga@sandisk.com
or
Sony Electronics Inc.
Rosemary Flynn, 858/942-7763
rosemary.flynn@am.sony.com
or
Sony Corporation
Aki Shimazu, 81-3-5448-2200
aki.shimazu@jp.sony.com
--------------------------------------------------------------------------------
Source: SanDisk Corporation
Reuters
SanDisk Raises 2003 Revenue View
Saturday December 6, 7:00 pm ET
SAN FRANCISCO (Reuters) - Computer storage product maker SanDisk Corp. (NasdaqNM:SNDK - News), said on Saturday it raised its 2003 revenue forecast, citing high bookings and better than expected sales of devices using its products over the Thanksgiving weekend.
SanDisk said it expects revenues this year to exceed $1.0 billion, compared with its September projection of 2003 sales of $950 million.
The Sunnyvale, California-based company, which makes removable memory cards used in digital cameras and personal digital assistants, also reiterated a positive business outlook for the fourth quarter.
SanDisk Raises 2003 Revenue View
Saturday December 6, 7:00 pm ET
SAN FRANCISCO (Reuters) - Computer storage product maker SanDisk Corp. (NasdaqNM:SNDK - News), said on Saturday it raised its 2003 revenue forecast, citing high bookings and better than expected sales of devices using its products over the Thanksgiving weekend.
SanDisk said it expects revenues this year to exceed $1.0 billion, compared with its September projection of 2003 sales of $950 million.
The Sunnyvale, California-based company, which makes removable memory cards used in digital cameras and personal digital assistants, also reiterated a positive business outlook for the fourth quarter.
Sandisk scheint ja im Moment mächtig unter die Räder zu kommen...
Meiner Meinung nach ein klassischer überbewerteter Titel für den sich plätzlich keine Käufer mehr finden..
Is auch klar, warum sollte man für eine Firma, die real kaum etwas verdienen dürfte den 30-fachen Gewinn für 2004 hinblättern
Meiner Meinung nach ein klassischer überbewerteter Titel für den sich plätzlich keine Käufer mehr finden..
Is auch klar, warum sollte man für eine Firma, die real kaum etwas verdienen dürfte den 30-fachen Gewinn für 2004 hinblättern
Wow - ein deartiger Kursrutsch überrascht mich sogar 
Schon mehr als 40 % von Top..
Kein armes Schwein das noch investiert ist hier ?
Schon mehr als 40 % von Top..
Kein armes Schwein das noch investiert ist hier
?
jetzt wieder....nach dem Split hat sich die Aktie um die 20 Euro stabilisiert....(bereinigt 40)
SanDisk Announces First Quarter Results; Year-over-Year Increase in Revenues of 122% and Operating Income of 184%
WEDNESDAY, APRIL 14, 2004 4:17 PM
- BusinessWire
SNDK
32.51 +0.98
Enter Symbol:
Enter Keyword:
SUNNYVALE, Calif., Apr 14, 2004 (BUSINESS WIRE) -- SanDisk Corporation (SNDK) , the world`s largest supplier of flash storage card products, today announced results for the first quarter ended March 28, 2004. First quarter total revenues increased 122% to $387 million compared to the first quarter of 2003 and were essentially unchanged from the seasonally strong fourth quarter. First quarter product sales were up 118% year-over-year and down 4% to $339 million compared to $353 million in the fourth quarter. Income from license and royalties increased to $48 million, up 153% and 34% year-over-year and sequentially. First quarter operating income was $99 million, compared to $35 million and $109 million for the first quarter of 2003 and the fourth quarter of 2003, respectively. The first quarter effective tax rate was 37% compared to 20% in the fourth quarter of 2003. Earnings per share were $0.34 per diluted share compared with $0.17 per diluted share in the same quarter of 2003 and $0.47 per diluted share in the fourth quarter of 2003.
"The first quarter was another good quarter for SanDisk given the traditional first quarter seasonality. Royalty income significantly exceeded our expectations due to strong sales of flash memory by our licensees in the fourth quarter. During the first quarter, we introduced a number of important products that are expected to materially contribute to our revenues in 2004 and in future years. Specifically, these include Shoot and Store(TM) consumable flash cards targeted for sales through supermarkets and convenience stores, TransFlash(TM) for semi-embedded storage in new models of camera cell phones, Reduced-Size MultiMediaCard for removable storage primarily in European multimedia camera phones, a broad lineup of new Cruzer USB flashdrives, and the industry`s broadest lineup of MemoryStick Pro and Pro Duo," said Eli Harari, President and CEO of SanDisk Corporation.
"Supply and demand were in balance throughout the first quarter which resulted in stable pricing. Early in the second quarter we announced the world`s first 4 gigabit NAND MLC monolithic chip, which employs the new 90-nanometer technology that we developed jointly with Toshiba. This chip is expected to start production in the third quarter of 2004 and we expect this will allow us to build highly cost effective 512 megabyte (MB) capacity cards using just one NAND chip and one controller chip. We recently initiated price reductions averaging approximately 20% for many of our products, primarily focusing on 256MB and higher capacities. The new lower pricing is intended to proactively drive demand elasticity and accelerate the retail consumer market transition towards 512MB and higher capacity cards in the second half of 2004. We expect overall year-over-year price reductions to be approximately at the previously stated 40%, which we consider healthy for stimulating the rapid growth and continuing adoption of flash storage in new mega market applications."
WEDNESDAY, APRIL 14, 2004 4:17 PM
- BusinessWire
SNDK
32.51 +0.98
Enter Symbol:
Enter Keyword:
SUNNYVALE, Calif., Apr 14, 2004 (BUSINESS WIRE) -- SanDisk Corporation (SNDK) , the world`s largest supplier of flash storage card products, today announced results for the first quarter ended March 28, 2004. First quarter total revenues increased 122% to $387 million compared to the first quarter of 2003 and were essentially unchanged from the seasonally strong fourth quarter. First quarter product sales were up 118% year-over-year and down 4% to $339 million compared to $353 million in the fourth quarter. Income from license and royalties increased to $48 million, up 153% and 34% year-over-year and sequentially. First quarter operating income was $99 million, compared to $35 million and $109 million for the first quarter of 2003 and the fourth quarter of 2003, respectively. The first quarter effective tax rate was 37% compared to 20% in the fourth quarter of 2003. Earnings per share were $0.34 per diluted share compared with $0.17 per diluted share in the same quarter of 2003 and $0.47 per diluted share in the fourth quarter of 2003.
"The first quarter was another good quarter for SanDisk given the traditional first quarter seasonality. Royalty income significantly exceeded our expectations due to strong sales of flash memory by our licensees in the fourth quarter. During the first quarter, we introduced a number of important products that are expected to materially contribute to our revenues in 2004 and in future years. Specifically, these include Shoot and Store(TM) consumable flash cards targeted for sales through supermarkets and convenience stores, TransFlash(TM) for semi-embedded storage in new models of camera cell phones, Reduced-Size MultiMediaCard for removable storage primarily in European multimedia camera phones, a broad lineup of new Cruzer USB flashdrives, and the industry`s broadest lineup of MemoryStick Pro and Pro Duo," said Eli Harari, President and CEO of SanDisk Corporation.
"Supply and demand were in balance throughout the first quarter which resulted in stable pricing. Early in the second quarter we announced the world`s first 4 gigabit NAND MLC monolithic chip, which employs the new 90-nanometer technology that we developed jointly with Toshiba. This chip is expected to start production in the third quarter of 2004 and we expect this will allow us to build highly cost effective 512 megabyte (MB) capacity cards using just one NAND chip and one controller chip. We recently initiated price reductions averaging approximately 20% for many of our products, primarily focusing on 256MB and higher capacities. The new lower pricing is intended to proactively drive demand elasticity and accelerate the retail consumer market transition towards 512MB and higher capacity cards in the second half of 2004. We expect overall year-over-year price reductions to be approximately at the previously stated 40%, which we consider healthy for stimulating the rapid growth and continuing adoption of flash storage in new mega market applications."
Mir juckt`s ja schon in den Fingern, nachdem mich mein stop-loss halbwegs gerettet hatte...aber wie tief fällt das Ding noch? Meinungen zum (Wieder-)Einstieg?? Bye, H.
naja, jetzt mit neuem CEO könnte sich da mal wieder was tun. Allerding müsste sich da erstmal wieder ein Boden im Abwärtstrend findn. Nach unten ist ja im Moment alles offen, da weiss man nichtmal wo ein Stop zu setzen wäre.
Grüsse, Oregon
http://www.aktienboard.com
Grüsse, Oregon
http://www.aktienboard.com
Hatte mir eigentlich "unter zwanzig" als Wiedereinstiegsziel ausgeguckt, aber momentan kann`s auch nioch viel tiefer gehen...lauere nunmehr auf 17...
Halte den Gesamtmarkt für stabil genung und bin mit 20,45 wieder dabei, habe günstigeren Einstieg leider verpasst. 
Habe die Position aber eng mit SL versehen. Bye, H.
Habe die Position aber eng mit SL versehen. Bye, H.
Jetzt bei 16,90€ überleg ich auch mir welche ins Depot zu legen.
Bei BO liegt die Gewinnschätzung bei ca. 1,30€, das wäre ja mal ein richtig preiswerter Technologietitel.
Nur warum fällt das Teil so stark?
Die angekündigte 20%tige Preissenkung allein kann es ja wohl nicht sein.
Wie sieht eigentlich das EK aus?
Gibt es sonst noch wichtige News?
Bei BO liegt die Gewinnschätzung bei ca. 1,30€, das wäre ja mal ein richtig preiswerter Technologietitel.
Nur warum fällt das Teil so stark?
Die angekündigte 20%tige Preissenkung allein kann es ja wohl nicht sein.
Wie sieht eigentlich das EK aus?
Gibt es sonst noch wichtige News?
Das Ding fällt wirklich wie ein Stein, bin bei 18,30 ausgestoppt worden und warte nun erst einaml ab...
...20 % Plus gestern...
die wirklich guten Zahlen haben wohl einige auf dem falschen Fuß erwischt, der Kurs ist im Vergleich zum Umfeld seitdem relativ stabil.....
Allerdings war der Kursverlust im Quartal davon auch nicht von schlechten Eltern, aufgeholt ist er noch lange nicht.
Allerdings war der Kursverlust im Quartal davon auch nicht von schlechten Eltern, aufgeholt ist er noch lange nicht.
jetzt schon wieder an der 30 $ Marke in Euro 23,50. Nicht schlecht fürs kurzfristige Hin- und Herzocken....
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