SanDisk 2007 Annual Report Download - page 101

Download and view the complete annual report

Please find page 101 of the 2007 SanDisk annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 157

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157

SANDISK CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
December 30,
2007
December 31,
2006
January 1,
2006
Fiscal Years Ended
(In thousands, except per share amounts)
Revenues:
Product ........................................... $3,446,125 $2,926,472 $2,066,607
License and royalty . . ................................ 450,241 331,053 239,462
Total revenues .................................... 3,896,366 3,257,525 2,306,069
Cost of product revenues. ............................... 2,628,838 2,007,684 1,333,335
Amortization of acquisition-related intangible assets ........... 64,809 10,368 —
Total cost of product revenues ........................ 2,693,647 2,018,052 1,333,335
Gross profit ......................................... 1,202,719 1,239,473 972,734
Operating expenses:
Research and development............................. 418,066 306,866 194,810
Sales and marketing . . ............................... 294,594 203,406 122,232
General and administrative ............................ 181,509 159,835 79,110
Restructuring ...................................... 6,728 — —
Write-off of acquired in-process technology ................ — 225,600 —
Amortization of acquisition-related intangible assets .......... 25,308 17,432 —
Total operating expenses ............................ 926,205 913,139 396,152
Operating income ..................................... 276,514 326,334 576,582
Interest income ....................................... 133,355 101,088 42,835
Income (loss) in equity investments ........................ (9,949) 6,678 (7,847)
Interest (expense) and other income (expense), net ............. (1,504) (3,392) 1,737
Total other income. . ............................... 121,902 104,374 36,725
Income before provision for income taxes ................... 398,416 430,708 613,307
Provision for income taxes .............................. 174,848 230,193 226,923
Income after taxes .................................... 223,568 200,515 386,384
Minority interest ...................................... 5,211 1,619 —
Net income .......................................... $ 218,357 $ 198,896 $ 386,384
Net income per share:
Basic ............................................ $ 0.96 $ 1.00 $ 2.11
Diluted ........................................... $ 0.93 $ 0.96 $ 2.00
Shares used in computing net income per share:
Basic ............................................ 227,744 198,929 183,008
Diluted ........................................... 235,857 207,451 193,016
The accompanying notes are an integral part of these consolidated financial statements.
F-5