SanDisk Reports Second Quarter 2015 Financial Results 

MILPITAS, Calif., July 23 -- SanDisk Corporation, a global leader in flash storage solutions, today announced results for the second quarter ended June 28, 2015. Second quarter revenue of $1.24 billion decreased 24 percent on a year-over-year basis and decreased 7 percent sequentially.

On a GAAP basis, second quarter net income was $81 million, or $0.38 per share, compared to net income of $274 million, or $1.14 per share, in the second quarter of 2014 and $39 million, or $0.17 per share, in the first quarter of 2015.

On a non-GAAP basis, second quarter net income was $136 million, or $0.66 per share, compared to net income of $329 million, or $1.41 per share, in the second quarter of 2014 and net income of $134 million, or $0.62 per share, in the first quarter of 2015. For a reconciliation of non-GAAP to GAAP results, see accompanying financial tables and footnotes.

“During the second quarter, we strengthened our portfolio with several new product launches in both the retail and commercial channels,” said Sanjay Mehrotra, president and chief executive officer, SanDisk. “We are making steady progress on all operational fronts, and remain focused on enhancing our financial performance.”

News Highlights

• SanDisk announced the availability of its new Fusion ioMemory PCIe application accelerators which utilize SanDisk NAND and dramatically improve performance compared to the previous generation ioDrive2, enabling datacenter consolidation and lower total cost of ownership. These application accelerators also feature updated Virtual Storage Layer (VSL) data access acceleration software.
• SanDisk announced its new CloudSpeed Eco Gen. II enterprise SATA SSD for cloud service providers, with up to 2TB* capacity, based on 15 nanometer NAND flash. The CloudSpeed Eco Gen. II delivers greater storage density with three times the streaming bandwidth versus hard disk drives (HDDs).
• SanDisk announced the SanDisk Extreme 500 and the SanDisk Extreme 900 families of high-performance portable SSDs at capacities up to 480GB and 1.92TB respectively. These SSDs feature significantly faster transfer speeds than a portable hard drive.
• SanDisk introduced the new SanDisk Z400s SSD, a cost-effective 15 nanometer-based SSD designed to replace HDDs in computing platforms and embedded applications, such as digital signage, security surveillance, and point of sale or kiosk environments.
• SanDisk announced today a third quarter 2015 dividend of $0.30 per share of common stock, payable on August 25, 2015 to stockholders of record as of the close of business on August 3, 2015.

About SanDisk Corporation

SanDisk Corporation, a Fortune 500 and S&P 500 company, is a global leader in flash storage solutions. For more than 25 years, SanDisk has expanded the possibilities of storage, providing trusted and innovative products that have transformed the electronics industry. Today, SanDisk’s quality, state-of-the-art solutions are at the heart of many of the world's largest data centers, and embedded in advanced smartphones, tablets and PCs. SanDisk’s consumer products are available at hundreds of thousands of retail stores worldwide. For more information, visit www.sandisk.com.

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Source: SanDisk