SanDisk Announces Fourth Quarter Revenue and Net Income

SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 25, 1999--SanDisk Corporation (Nasdaq:SNDK - news), the world's largest supplier of flash memory data storage products, today announced financial results for its fourth quarter and fiscal year ended December 31, 1998.

Total fourth quarter revenues were .2 million, up .1 million from the third quarter due to increased sales of CompactFlash and FlashDisk products. Revenues from licenses and royalties were .1 million. Net income for the quarter was .6 million, up from .5 million in the previous quarter. Diluted earnings per share was /var/www/cgi-bin/mt/mt.cgi.13, compared to /var/www/cgi-bin/mt/mt.cgi.09 per share for the third quarter of 1998.

Revenues for the fiscal year were .8 million, an increase of 8% from .3 million for the previous year due to higher patent license and royalty revenues. Product revenues were down slightly despite a 34% increase in unit sales due to lower average selling prices. Net income in 1998 was .8 million, or 43 per share, compared with .8 million, or /var/www/cgi-bin/mt/mt.cgi.79 per share for 1997 on a diluted basis. SanDisk's balance sheet remains strong with cash and investments of million and no debt. Operations generated .3 million of cash during the fourth quarter and .3 million for the year.