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|SanDisk Announces Third Quarter 2014 Results|
Delivers Record Quarterly Revenue
On a GAAP(1) basis, third quarter net income was
$263 million, or
On a non-GAAP(2)(3) basis, third quarter net income was
$336 million, or
“Third quarter results reflect the strength of our diversified product
portfolio, broad customer engagements and solid execution,” said
KEY FINANCIAL METRICS
SanDisk’s third quarter of fiscal 2014 conference call is scheduled for
2:00 P.M., Pacific Daylight Time,
This news release contains certain forward-looking statements, including those regarding our business prospects and opportunities, market growth, demand for our products, our innovations, and our performance for the remainder of 2014 and in 2015, that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate.
Risks that may cause these forward-looking statements to be inaccurate include, among others:
(1) GAAP represents U.S. Generally Accepted Accounting Principles.
(2) Non-GAAP represents GAAP excluding the impact of share-based compensation, inventory step-up expense, amortization of acquisition-related intangible assets, non-cash economic interest expense associated with our convertible debt and related tax adjustments.
(3) Non-GAAP shares include the impact of offsetting shares from the call options related to the 1.5% Sr. Convertible Notes due 2017 and 0.5% Sr. Convertible Notes due 2020, and the impact of share-based compensation.