SanDisk Corp. reported its earnings Thursday (Jan. 22) rising to record revenue levels after shifting its business toward high-value products.
For 2014, SanDisk’s revenue rose to $6.63 billion, a 7 percent rise from $6.17 billion in the 2013. Net income in 2013 was $1.01 billion, compared to $1.04 billion in 2013. Meanwhile, for the fourth quarter of 2014, SanDisk earned revenue of $1.74 billion, slightly higher on a year-over-year basis but down 1 percent sequentially. Fourth quarter net income was $202 million, compared to $388 million in the fourth quarter of 2013 and $263 million in the third quarter of last year.
Sanjay Mehrortra, president and CEO at SanDisk, said in a statement the company was disappointed with its fourth quarter results but excited that it delivered record revenue in 2014 as the company “continued progress in shifting our portfolio towards high value solutions.” Mehrortra added with strong NAND flash fundamentals, SanDisk expects to improve upon its financials in 2015.
One of the strong areas of revenue growth in 2014 for SanDisk was in its solid state drive (SSD) products that represented 29 percent of all revenue for the year. This was based on strong growth from both the client and enterprise markets.
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