Posts net income of $224.1m in Q1 2011
SanDisk has reported a revenue of $1.29bn for the first quarter of 2011, an increase of 19% on a year-over-year basis compared to $1.1bn in the same quarter previous year.
While product revenue was $1.21bn, up 22% compared to $993m; license and royalty revenue was $84m, down 10.2% compared to $93.5m for the first quarter of 2010.
For the quarter, operating income was $349.3m compared to operating income of $314m in the first quarter of 2010.
Net income for the first quarter of 2011 was $224.1m, or $0.92 per diluted share, compared to net income of $234.7m, or $0.99 per share in the first quarter of 2010.
SanDisk president and CEO Sanjay Mehrotra said their embedded mobile business drove growth in the first quarter, and SanDisk executed well to deliver strong business results.
"We have been actively managing our supply chain following the recent events in Japan and believe we remain on track to deliver a strong 2011 for SanDisk," Mehrotra said.