SanDisk Confirms Positive Business Prospects for Fourth Quarter

12/10/2003 - SanDisk Corporation (NASDAQ:SNDK) reiterated its positive business outlook for the fourth quarter of this year. In its statement, the company said, “We are confident about our business prospects for the fourth quarter, as first provided on October 15, 2003. We continue to see high bookings for our products, and the pricing environment remains benign. Retail promotions in the US over the Thanksgiving weekend were very well received and associated sell-through exceeded our expectations. We are continuing to maximize our flash memory supply from both captive and non-captive sources to meet the seasonally strong consumer demand for our products. Our 2003 total revenue is forecasted to exceed $1.0 billion, up from our September projection of $950 million. SanDisk revenues were $541.3 million in 2002.”

The company does not currently plan to provide any further updates prior to the announcement of its fourth quarter results.

SanDisk, the world’s largest supplier of flash memory data storage card products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.

This news release contains certain forward-looking statements, including our business outlook, expectations for new product introductions, capacity, future product revenues, average selling prices, gross margins, operating margins and tax rates, that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate and may significantly and adversely affect our business, financial condition and results of operations. Risks that may cause these forward-looking statements to be inaccurate include among others: fluctuations in operating results, yields and possible delays related to the conversion to .13 micron technology, delays in qualification of new .13 micron product components, any interruption of supply from any of the semiconductor manufacturing facilities that supply products to us, future average selling price erosion due to excess industry capacity, price increases from non-captive flash memory sources and third party subcontractors, current global, economic and geo-political conditions, the timely development, internal qualification and customer acceptance of new products such as the new Cruzer Mini, as well as new products that are based on the NAND and NAND/MLC .13 micron flash chips, fluctuations in royalty revenues, business interruption due to earthquakes or other natural disasters, particularly in areas in the Pacific Rim where we manufacture and assemble products, further impairment of our investments in Tower Semiconductor Ltd. and UMC due to any decline in stock valuations, and the other risks detailed from time-to-time in our Securities and Exchange Commission filings and reports, including, but not limited to, the Form 10-Q for the quarter ended September 28, 2003 and the Annual Report on Form 10-K for the year ended December 29, 2002. Future results may differ materially from those previously reported. We assume no obligation to update the information contained in this release.

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