Tuesday, February 3, 2009
SanDisk posted a net loss in accordance with generally accepted accounting principles of $1.86 billion, or $8.25 per share, on revenue of $864 million for the fourth quarter of 2008.
SanDisk said it incurred a combined pre-tax goodwill and intangible asset impairment charge of $1.02 billion, due to a sustained decline in the company's market capitalization and other factors.
Revenue for the quarter increased 5 percent over the prior quarter, but was down 31 percent when compared with the year-ago quarter, SanDisk said. The net loss for the quarter compares to a GAAP net income of $106 million, or 45 cents per share, posted in the fourth quarter of fiscal 2007.
For the year, SanDisk reported a GAAP net loss for fiscal 2008 of $2.07 billion, or $9.19 per share. The company had posted a new income of $219 million, or 93 cents per share, in fiscal 2007.
Total revenue for fiscal 2008 was $3.35 billion, down 14 percent from $3.90 billion in fiscal 2007, SanDisk said.
By: DocMemory
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