SanDisk Posts $1.86 Billion Loss For Q4

Fourth-quarter revenue declined 31 percent to $863.9 million but beat analyst expectations of $766.8 million. SanDisk reported fiscal 2008 revenue of $3.35 billion, down 14 percent from $3.90 billion in fiscal 2007.

"We are very disappointed with our fourth-quarter bottom-line results," said CEO Eli Harari in a statement.

SanDisk reported product revenue of $742 million, down 34 percent year-over-year but up 8 percent quarter-over-quarter.

Harari said that SanDisk is continuing to take steps to reduce capital and operating expenses.

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One of those steps is the company's recent deal with Toshiba in which it is transferring more than 20 percent of its captive fab capacity to Toshiba for roughly $890 million.