SUNNYVALE, CA, Aug. 28, 2000-SanDisk Corporation (NASDAQ: SNDK), the world's largest supplier and market leader of flash data storage products, has been named to Fortune magazine's prestigious list of the nation's 100 fastest growing companies in its Sept. 4 issue, recognizing SanDisk's outstanding performance over the past three years.
Eli Harari, president and CEO of SanDisk said, "We are tremendously pleased that Fortune magazine has recognized our efforts to place SanDisk at the top of the flash data storage market. The markets that our pioneering storage technology are enabling, such as our CompactFlash™ cards replacing regular film in digital cameras and our MultiMediaCards replacing tape in MP3 music players, are just now coming into their own, and are projected to show accelerated growth over the next several years. SanDisk is exceptionally well positioned to benefit from this projected growth."
In selecting the list of 100 companies, Fortune editors studied firms that have been in operation in the U.S. for the past three years with revenues and a market capitalization of at least $50 million. The list was then narrowed to those companies with a 30 percent annual growth rate during the three years in both revenue and earnings per share plus positive earnings the latest quarter. Those companies were then ranked by growth in revenue, EPS, and total stock market return over three years. The scores from those three categories were then added up. SanDisk was ranked 34th on the list of 100 top companies.
In its first and second quarter reports, total revenue for SanDisk was $253 million surpassing all the revenue it reported last year. SanDisk, which shipped five million flash cards in 1999, already has shipped more than five million flash cards in the first half of this year.
Harari, an authority on flash memory technology, founded SanDisk Corporation in 1988. The firm pioneered the industry development of flash memory cards for data storage and played a key role in setting many flash industry standards. Its CompactFlash
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