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SANDISK CORPORATION
SUPPLEMENTARY QUARTERLY DATA
April 3,
2005
July 3,
2005
October 2,
2005
January 1,
2006
Quarters Ended
(In thousands, except per share data)
(Unaudited)
2005
Revenues
Product ............................... $399,679 $453,762 $529,735 $683,431
License and royalty ...................... 51,296 61,134 59,896 67,136
Total revenues ........................ 450,975 514,896 589,631 750,567
Gross profit ............................. 199,787 214,099 256,784 302,064
Operating income ......................... 113,519 106,044 158,568 198,451
Net income(1) ............................ $ 74,516 $ 70,496 $107,458 $133,914
Net income per share
Basic(3)............................. $ 0.41 $ 0.39 $ 0.59 $ 0.72
Diluted(3) ........................... $ 0.39 $ 0.37 $ 0.55 $ 0.68
March 28,
2004
June 27,
2004
September 26,
2004
January 2,
2005
Quarters Ended
(In thousands, except per share data)
(Unaudited)
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(2) ......................... $ 63,568 $ 70,611 $ 54,102 $ 78,335
Net income per share(4)
Basic(3) .......................... $ 0.39 $ 0.44 $ 0.33 $ 0.46
Diluted(3) ......................... $ 0.34 $ 0.38 $ 0.29 $ 0.42
(1) In the first and second quarter of 2005, we recognized a loss of ($10.1) million and ($0.1) million on the
other-than-temporary decline in the fair value of our investment in Tower and our Tower warrants, respectively.
(2) 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 UMC stock for a realized gain of approximately $7.0 million, or $4.9 million
net of tax.
(3) 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.
(4) 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.
31
Annual Report