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October 20, 2006 – Flash memory manufacturer SanDisk Corp. released yesterday its financial reports for the third quarter, announcing record revenue of $751 million. In a three-month quarter ending Oct. 1, 2006, SanDisk witnessed a 27 percent increase year-over-year, according to a SanDisk press release yesterday.
"We are pleased with our third quarter results," said SanDisk CEO Eli Harai in the release. Not including stock expenses, SanDisk saw a 15 percent increase in the third quarter in its overall non-GAAP (Generally Accepted Accounting Principles) income year-over-year. In the third quarter of 2005, SanDisk had reported its non-GAAP income at $107 million. Compared to the third quarter of 2005, this year's third quarter non-GAAP income grew to $124 million.
Harai attributes the record results to growing demands for mobile phones, successful flash audio player sales in the U.S., and competitive Flash prices in Japan.
For the fourth quarter of this year, SanDisk introduced two memory cards, the Extreme III CompactFlash 12GB and 16GB memory cards, called the "highest capacity cards in the world," according a Sept. 30th SanDisk press release.
"We expect to benefit in the fourth quarter from projected seasonally strong holiday sales in digital cameras, handsets, flash audio players, USB flash drives and gaming consoles, and we now believe growth in our megabytes sold will be approximately 200 percent for 2006," said Harai in today’s release.
SanDisk is the largest supplier of Flash card products.