SUNNYVALE, CA, Sept. 11, 2000-Individual Investor Magazine has ranked SanDisk Corp (NASDAQ: SNDK) on its annual list of the 100 fastest growing companies in the United States. Individual Investor, a nationally prominent investor publication with a circulation exceeding a half million subscribers, ranked SanDisk 55th on its list of top 100 companies.
In selecting SanDisk, Individual Investor magazine cited the Silicon Valley corporation's "surging demand for products that depend on flash memory (that) pushed sales at SanDisk to $247 million last year, 82 percent more than in 1998, and have helped keep the company profitable every quarter since it went public in 1995. In the most recent quarter, SanDisk posted a revenue gain of 148 percent with earnings per share jumping 200 percent from the same quarter a year earlier."
Nelson Chan, senior vice president of worldwide sales and marketing at SanDisk, said, "We are delighted that Individual Investor Magazine has selected us for this distinction, especially since two weeks ago, Fortune magazine also placed us on its annual list of the 100 fastest growing companies in the United States. SanDisk has been recognized by Individual Investor magazine for its outstanding efforts in providing products that are in such high demand that we are the world's leader in the flash data storage market. Our pioneering storage technology that includes our CompactFlash card is replacing film in cameras while our MultiMediaCard is replacing tape in MP3 music players. They are just coming into their own and are expected to demonstrate accelerated growth over the next several years."
SanDisk's strong growth is demonstrated by the fact that in the first half of this year, it has already shipped more than five million cards, exceeding the five million cards it shipped for all of 1999. The Sunnyvale firm reported total revenue of $253 million for the first and second quarters of 2000, surpassing all the revenue it reported last year.
SanDisk, the world's largest supplier of flash data storage 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.
The matters discussed in this news release contain forward looking statements that are subject to certain risks and uncertainties as described under the caption "Factors that May Affect Future Results" in the company's annual report on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. The company assumes no obligation to update the information in this release.
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