SUNNYVALE, CA, AUGUST 24, 2005 - SanDisk® Corporation (NASDAQ:SNDK), the world's largest supplier of flash storage card products, today announced it has been named to FORTUNE Magazine's annual list of America's Fastest Growing Companies, ranking 8 out of the 100 companies listed. The list can be found in the September 5, 2005 issue of FORTUNE Magazine.
"SanDisk is pleased to be recognized by FORTUNE Magazine as one of the nation's top 100 fastest-growing companies," said Eli Harari, president and CEO of SanDisk Corporation. "The company delivered excellent top and bottom line financial results in 2004, demonstrating the broad acceptance of our flash storage products by consumers worldwide. In the coming few years we expect substantial growth in the emerging consumer markets that we address, including increased adoption of flash cards in the mobile phone market to store music, pictures and video, the flash music player and smart USB flashdrive markets and the exciting market for our cards in video game consoles. Our goal is to establish SanDisk as a global consumer-branded powerhouse in the coming decade."
To compile the list, FORTUNE Magazine asked Zacks Investment research to screen for U.S. companies with a market cap of $50 million, at least $50 million in revenues over the past four quarters, 25% or better annual growth in sales and earnings per share over the past three years and a few other traits. The final ranking reflects growth in revenues, EPS and total market return for three years.
SanDisk is the original inventor of flash storage card products, and is the world's largest supplier of flash data storage card products, using its patented, high-density flash memory and controller technology. SanDisk is headquartered in Sunnyvale, CA and has operations worldwide, with more than half of its sales outside the U.S.
The matters discussed in this news release contain certain forward-looking statements, including expectations for markets and customers that are based on the company's current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include, among others, that market demand may not meet the company's expectations, and the other risks detailed from time-to-time in the company's Securities and Exchange Commission filings and reports, including, but not limited to, the company's Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. The company does not intend to update the information in this release.