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