News Column

SanDisk Reports Fourth Quarter and Fiscal 2013 Results

January 27, 2014

SanDisk Corp. announced results for the fourth quarter and fiscal year ended December 29, 2013 . In a release on January 22 , the Company noted that fourth quarter revenue of $1.73 billion increased 12 percent on a year-over-year basis and increased 6 percent sequentially. Total revenue for fiscal 2013 of $6.17 billion increased 22 percent from $5.05 billion in fiscal 2012. "We delivered outstanding results in the fourth quarter and full year 2013 driven by strong execution and continued favorable portfolio mix shift," said Sanjay Mehrotra , president and chief executive officer of SanDisk . "Our SSD product revenue set another quarterly record and represented 19 percent of our annual revenue, and we also set a record for annual retail product revenue. SanDisk is enabling the next generation of mobile and enterprise data storage solutions, and we are excited about our prospects for 2014." Other highlights include: -Fourth quarter and fiscal 2013 cash flow from operations set quarterly and annual records of $617 million and $1.86 billion , respectively. - SanDisk issued $1.50 billion of 0.5 percent senior convertible notes during the fourth quarter and repurchased a total of $150 million of stock in conjunction with the offering. - SanDisk announced its first-quarter dividend of $0.225 per share of common stock, payable on February 24 , to shareholders of record as of the close of business on February 3 . SanDisk Corp. is a company focusing on flash storage solutions. More information: sandisk.com ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


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