SanDisk 2004 Annual Report Download - page 21

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Table of Contents
SANDISK CORPORATION
SUPPLEMENTARY QUARTERLY DATA
Quarters Ended
March 28, June 27, September 26, January 2,
2004 2004 2004 2005
(Unaudited. In thousands, except per share data)
2004
Revenues
Product $338,779 $391,327 $365,033 $507,697
License and royalty 48,151 41,961 42,921 41,186
Total revenues 386,930 433,288 407,954 548,883
Gross profit 155,918 178,653 147,381 203,753
Operating income 98,559 110,331 83,683 126,018
Net income(1) 63,568 70,611 54,102 78,335
Net income per share(3)
Basic(2) $ 0.39 $ 0.44 $ 0.33 $ 0.46
Diluted(2) $ 0.34 $ 0.38 $ 0.29 $ 0.42
Quarters Ended
March 30, June 29, September 28, December 28,
2003 2003 2003 2003
(Unaudited. In thousands, except per share data)
2003
Revenues
Product $155,448 $214,044 $259,446 $353,403
License and royalty 19,032 20,582 21,954 35,892
Total revenues 174,480 234,626 281,400 389,295
Gross profit 71,591 88,772 113,635 164,614
Operating income 34,686 46,659 66,803 108,890
Net income(1) 24,925 41,326 14,770 87,838
Net income per share(3)
Basic(2) $ 0.18 $ 0.30 $ 0.11 $ 0.55
Diluted(2) $ 0.17 $ 0.26 $ 0.09 $ 0.47
(1) In the fourth quarter of 2004, we recognized a loss of ($11.8) million on the other−than−temporary decline in the fair value of
our investment in Tower and a gain from a settlement of $6.2 million, or $3.9 million net of tax, from a third−party brokerage
firm related to the 2003 unauthorized disposition of our investment in UMC. In the third quarter of 2003, we suffered a loss of
approximately ($18.3) million as a result of the unauthorized disposition of approximately 127.8 million shares of UMC stock
owned by us. Also, during the third quarter of 2003, we sold 35 million shares of our UMC investment for a realized gain of
approximately $7.0 million.
(2) Quarterly earnings per share figures may not total to yearly earnings per share, due to rounding and fluctuations in the number of
options included or omitted from diluted calculations based on the stock price or option strike prices.
(3) Net income per share gives retroactive effect to a 2−for−1 stock split, in the form of a 100% stock dividend, effected on
February 18, 2004.
16