Flash memory chip makers brag their share of bad news
Mon, Feb 2nd, 2009
The bad times are taking a toll among the makers of flash memory chips. SanDisk reported today that it lost a whopping $1.86 billion in the fourth quarter, while Spansion said that its chief executive, Bertrand Cambou, is resigning today.
Milpitas, Calif.-based SanDisk said revenue for the quarter was $863.9 million, down from $1.25 billion a year ago. The loss of $8.25 a share included a $1.91 billion one-time charge. That includes $1.02 billion in a write-off of goodwill and intangible assets. Not counting the one-time items, the loss was $1.65 a share. Analysts expected the company to report a loss of 60 cents a share on revenue of $766.7 million, according to Thomson Reuters.
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