SanDisk 2005 Annual Report Download - page 105

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ITEM 6. SELECTED FINANCIAL DATA
SANDISK CORPORATION SELECTED FINANCIAL DATA
January 1,
2006(1)
January 2,
2005(2)
December 28,
2003(3)
December 29,
2002(4)
December 30,
2001(5)
Years Ended
(In thousands, except per share data)
Revenues
Product .................... $2,066,607 $1,602,836 $ 982,341 $492,900 $ 316,867
License and royalty ............ 239,462 174,219 97,460 48,373 49,434
Total revenues.............. 2,306,069 1,777,055 1,079,801 541,273 366,301
Cost of revenues................ 1,333,335 1,091,350 641,189 352,452 392,293
Gross profit (loss)............... 972,734 685,705 438,612 188,821 (25,992)
Operating income (loss) .......... 576,582 418,591 257,038 58,151 (152,990)
Net income (loss) ............... $ 386,384 $ 266,616 $ 168,859 $ 36,240 $(297,944)
Net income (loss) per share(6)
Basic .................... $ 2.11 $ 1.63 $ 1.17 $ 0.26 $ (2.19)
Diluted ................... $ 2.00 $ 1.44 $ 1.02 $ 0.25 $ (2.19)
Shares used in per share
calculations(6)
Basic .................... 183,008 164,065 144,781 137,610 136,296
Diluted ................... 193,016 188,837 171,616 142,460 136,296
January 1,
2006
January 2,
2005
December 28,
2003
December 29,
2002
December 30,
2001
At
Working capital ................ $2,004,598 $1,526,674 $1,378,070 $584,450 $419,289
Total assets ................... 3,120,187 2,320,180 2,040,156 980,725 934,261
Long-term convertible subordinated
notes ...................... — — 150,000 150,000 125,000
Total stockholders’ equity ......... $2,523,791 $1,940,150 $1,515,872 $634,867 $675,379
(1) Includes other-than-temporary impairment charges of ($10.1) million, or ($6.4) million net of tax related to our
investment in Tower.
(2) Includes other-than-temporary impairment charges of ($11.8) million, or ($7.4) million net of tax related to our
investment in Tower, an adjustment to the fair value of our Tower warrant of ($0.2) million, or ($0.1) million
net of tax 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.
(3) Includes a loss of approximately ($18.3) million, or ($12.8) million net of tax, as a result of the unauthorized
sale of approximately 127.8 million shares of UMC stock, a gain of approximately $7.0 million, or $4.9 million
net of tax, related to the sale of 35 million shares of UMC stock, write-downs related to the recoverability of
our Tower wafer credits of ($3.9) million, or ($2.7) million net of tax, and an adjustment to the fair value of our
Tower warrant of ($0.6) million, or ($0.5) million net of tax.
(4) Includes other-than-temporary impairment charges of ($14.4) million on our Tower shares, or ($8.7) million
net of tax, write-downs related to the recoverability of our Tower wafer credits of ($2.8) million, or ($1.8)
million net of tax, and an adjustment to the fair value of our Tower warrant of ($0.7) million, or ($0.5) million
net of tax.
(5) Includes other-than-temporary impairment charges of ($302.3) million on our UMC shares and Tower shares,
or ($188.1) million net of tax, and restructuring charges of ($8.5) million or ($6.7) million net of tax.
(6) Net income (loss) per share and the share numbers each gives retroactive effect to a 2-for-1 stock split, in the
form of a 100% stock dividend, effected on February 18, 2004.
30