Posts net income of $485.5m in Q4 2010
SanDisk has reported revenue of $1.33bn for the fourth quarter of 2010, an increase of 7% on a year-over-year basis and an increase of 8% on a sequential basis.
Product revenue was $1.24bn, up 9% year-over-year and also up by 9% sequentially. License and royalty revenue was $86.6m, down 13% year-over-year and down 10% sequentially.
For the quarter, operating income was $357m compared to operating income of $376m in the fourth quarter of 2009.
Net income for the fourth quarter of 2010 was $485.5m, or $2.01 per diluted share, compared to net income of $340m, or $1.45 per share in the fourth quarter of 2009.
For the fiscal year 2010, the company’s total revenues increased to $4.83bn, operating income $1.51bn, and net income $1.3bn from $3.57bn, $519.4m, and $415.3m, respectively, in the previous fiscal year.
SanDisk president and CEO Sanjay Mehrotra said the company’s growth was driven by accelerating momentum in the mobile embedded business and gains in APAC markets and customers.
"The market environment continues to be robust and we expect 2011 to be another strong year for SanDisk with smartphones and tablets continuing to lead our growth," Mehrotra said.