SanDisk 2006 Annual Report Download - page 83

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ITEM 6. SELECTED FINANCIAL DATA
SANDISK CORPORATION SELECTED FINANCIAL DATA
December 31,
2006(1)
January 1,
2006(2)
January 2,
2005(3)
December 28,
2003(4)
December 29,
2002(5)
Years Ended
(In thousands, except per share data)
Revenues
Product .................... $2,926,472 $2,066,607 $1,602,836 $ 982,341 $492,900
License and royalty ............ 331,053 239,462 174,219 97,460 48,373
Total revenues.............. 3,257,525 2,306,069 1,777,055 1,079,801 541,273
Cost of revenues................ 2,018,052 1,333,335 1,091,350 641,189 352,452
Gross profit ................... 1,239,473 972,734 685,705 438,612 188,821
Operating income ............... 326,334 576,582 418,591 257,038 58,151
Net income ................... $ 198,896 $ 386,384 $ 266,616 $ 168,859 $ 36,240
Net income per share(6)
Basic .................... $ 1.00 $ 2.11 $ 1.63 $ 1.17 $ 0.26
Diluted................... $ 0.96 $ 2.00 $ 1.44 $ 1.02 $ 0.25
Shares used in per share
calculations(6)
Basic .................... 198,929 183,008 164,065 144,781 137,610
Diluted................... 207,451 193,016 188,837 171,616 142,460
December 31,
2006
January 1,
2006
January 2,
2005
December 28,
2003
December 29,
2002
At
(In thousands)
Working capital ............... $3,345,414 $2,004,598 $1,526,674 $1,378,070 $584,450
Total assets................... 6,967,783 3,120,187 2,320,180 2,040,156 980,725
Long-term convertible notes ...... 1,225,000 — — 150,000 150,000
Total stockholders’ equity ........ $4,768,134 $2,523,791 $1,940,150 $1,515,872 $634,867
(1) Includes IPR&D charges of ($225.6) million related to acquisitions of Matrix in January 2006 and msystems in
November 2006, share-based compensation of ($100.6) million and amortization of acquisition-related
intangible assets of ($27.8) million.
(2) Includes other-than-temporary impairment charges of ($10.1) million, or ($6.4) million net of tax related to our
investment in Tower.
(3) Includes other-than-temporary impairment charges of ($11.8) million, or ($7.4) million net of tax related to 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 fiscal 2003 unauthorized disposition of our investment in UMC.
(4) 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.
(5) 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.
(6) Net income 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.
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