SanDisk posts 2% dip in Q4 revenue to $1.54 billion

Infotech Lead America: Flash memory storage solutions provider SanDisk has posted 2 percent dip in the fourth quarter revenue to $1.54 billion.

Sanjay Mehrotra, president and chief executive officer of SanDisk

Total revenue for fiscal 2012 decreased 11 percent to $5.05 billion from $5.66 billion in fiscal 2011.

SanDisk’s net income decreased to $214 million in fourth quarter from net income of $281 million in the fourth quarter of fiscal 2011.

Net income for fiscal 2012 was $417 million compared to $987 million in fiscal 2011.

“SanDisk ended 2012 with strong momentum in our SSD business, which contributed 10 percent of our Q4 revenue. We are now supplying client SSDs to ten leading PC OEMs and our enterprise SSDs are qualified at a fourth storage OEM,” said Sanjay Mehrotra, president and chief executive officer of SanDisk.

“We drove solid sequential growth in our embedded mobile products and continued to execute well in our retail business. We believe that our broadening customer engagements and expanding product portfolio position us well for strong profitability in 2013,” Mehrotra added.

SanDisk’s Financial Performance

Metric   GAAP   Non-GAAP
in millions of US$, except  percent   Q412   Q411   Q312 Q412   Q411   Q312
Revenue   $1,542   $1,577   $1,273 $1,542   $1,577   $1,273
Gross Profit $603   $662   $383 $615   $676   $395
 percent of revenue   39.1 percent   42.0 percent   30.1 percent 39.9 percent   42.9 percent   31.0 percent
Operating Income $336 $416 $132 $368 $449 $164
 percent of revenue   21.8 percent   26.4 percent   10.4 percent 23.9 percent   28.5 percent   12.9 percent

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