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.

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.