SanDisk 2007 Annual Report Download - page 82

Download and view the complete annual report

Please find page 82 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

ITEM 6. SELECTED FINANCIAL DATA
SANDISK CORPORATION SELECTED FINANCIAL DATA
December 30,
2007(1)
December 31,
2006(2)
January 1,
2006(3)
January 2,
2005(4)
December 28,
2003(5)
Fiscal Years Ended
(In thousands, except per share data)
Revenues
Product .................... $3,446,125 $2,926,472 $2,066,607 $1,602,836 $ 982,341
License and royalty ............ 450,241 331,053 239,462 174,219 97,460
Total revenues .............. 3,896,366 3,257,525 2,306,069 1,777,055 1,079,801
Cost of product revenues ......... 2,693,647 2,018,052 1,333,335 1,091,350 641,189
Gross profit ................... 1,202,719 1,239,473 972,734 685,705 438,612
Operating income ............... 276,514 326,334 576,582 418,591 257,038
Net income ................... $ 218,357 $ 198,896 $ 386,384 $ 266,616 $ 168,859
Net income per share:
Basic .................... $ 0.96 $ 1.00 $ 2.11 $ 1.63 $ 1.17
Diluted ................... $ 0.93 $ 0.96 $ 2.00 $ 1.44 $ 1.02
Shares used in per share calculations:
Basic .................... 227,744 198,929 183,008 164,065 144,781
Diluted ................... 235,857 207,451 193,016 188,837 171,616
December 30,
2007
December 31,
2006
January 1,
2006
January 2,
2005
December 28,
2003
At
(In thousands)
Working capital ................ $2,385,774 $3,345,414 $2,004,598 $1,526,674 $1,378,070
Total assets ................... 7,234,819 6,967,783 3,120,187 2,320,180 2,040,156
Long-term convertible notes ....... 1,225,000 1,225,000 — — 150,000
Total stockholders’ equity ......... $4,959,617 $4,768,134 $2,523,791 $1,940,150 $1,515,872
(1) Includes share-based compensation of ($133.0) million and amortization of acquisition-related intangible
assets of ($90.1) million. Also includes other-than-temporary impairment charges of ($10.0) million related to
our investment in FlashVision.
(2) Includes acquired in-process technology charges of ($225.6) million related to acquisitions of Matrix Semi-
conductor Inc. in January 2006 and msystems Ltd. in November 2006, share-based compensation of
($100.6) million and amortization of acquisition-related intangible assets of ($27.8) million.
(3) Includes other-than-temporary impairment charges of ($10.1) million related to our investment in Tower.
(4) Includes other-than-temporary impairment charges of ($11.8) million related to our investment in Tower, and a
gain from a settlement of $6.2 million from a third-party brokerage firm related to the fiscal 2003 unauthorized
disposition of our investment in UMC.
(5) Includes a loss of approximately ($18.3) million as a result of the unauthorized sale of approximately
127.8 million shares of UMC stock, a gain of approximately $7.0 million related to the sale of 35 million
shares of UMC stock, and write-downs related to the recoverability of our Tower wafer credits of ($3.9) million.
36