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Technology Stocks : WDC/Sandisk Corporation
WDC 187.18+2.9%3:59 PM EST
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To: orkrious who wrote (18477)1/24/2001 6:07:09 PM
From: Ausdauer  Read Replies (2) of 60323
 
Jay and others,

I have not listened to the c.c.

I clearly expected product and royalty revenues to be significantly higher.
I expected to see a top line number in the range of at least $200 million.
I can't understand how the EPS figure came out higher than last quarter.
The loss of OEM business hurt us, but this was reportedly a lower margin business
for SNDK to begin with due to the fact that these were low capacity cards.
Perhaps this is a partial explanantion.

The projection for royalties was in the range of $18 million if I
recall correctly, and this was before Lexar agreed to the settlement.
Thus, it would appear that royalty revenues were about $4 million less
than anticipated. I wonder if the Toshiba JV and the renewed licenses
with Hitachi have altered prior licensing revenue streams. As noted,
Hitachi agreed to sell SanDisk their latest product, perhaps in
consideration for a lower license figure.

The fact that licensing revenues appear to have peaked is disappointing.

I want to reserve further judgement until I have listened to the c.c.

I think we reached $1.29/share for the year, but that achievement is
clearly lessened given the other parts of the quarterly report.

Ausdauer
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