Sandisk made money this third quarter with some $751-million flowing into the companyâ€™s coffers. Of that amount, $103-million is net income, which is actually 4% down compared to a year ago, due mainly to dropping memory prices.
The average price of memory chips has dropped 25% in Q3 compared to Q2; year-on-year, the drop has been 60%.
Sandisk is happy just the same. â€œWe are pleased with our third quarter results,â€ said SanDisk CEO Eli Harai. Not including stock expenses, SanDisk saw a 15 percent increase in the third quarter overall non-GAAP (Generally Accepted Accounting Principles) income year-over-year.
That $751-million in sales was a record of sorts although net income dropped. The breakthrough sales were attributed to growing demands for mobile phones and digital cameras, successful flash audio player sales in the U.S., and competitive Flash prices in Japan.