Exhibit 1Flash Memory, Inc.Exhibit 1 Income Statements, 2007 - 2009 ($000s except earnings per share)

200720082009201020112012Net sales$77,131$80,953$89,250120000144000144000Cost of goods sold$62,519$68,382$72,4249732011678411678481.1%84.5%81.1%81.1%81.1%81.1% Gross margin$14,612$12,571$16,82622680272162721618.9%15.5%18.9%18.9%18.9%18.9%Purchases5839270070.470070.40.189Research and development$3,726$4,133$4,4166000720072004.83%5.11%4.95%5.00%5.00%5.00%Selling, general and administrative$6,594$7,536$7,4581003212038.412038.48.55%9.31%8.36%8.36%8.36%8.36% Operating income$4,292$902$4,952$6,648$7,978$7,978

Interest expense$480$652$735937.211347.61696.99.85%8.28%9.25%9.25%9.25%Other income (expenses)-$39-$27-$35-50-50-50

Income before income taxes$3,773$223$4,182$5,661$6,580$6,231

Income taxes (a)$1,509$89$1,673$2,264.32$2,632.0$2,492.27Net income$2,264$134$2,509$3,396$3,948$3,738Earnings per share$1.52$0.09$1.68$2.28$2.65$2.51(a) In years 2007 and after, Flash's effective combined federal and state income tax rate was 40%.debt/Equity0.390.520.510.630.680.47int Coverage8.941.386.747.095.924.70Notes payable/Acc Receivables60.25%68.98%69.06%73.85%77.50%61.70%ROE13.28%0.78%12.75%14.71%14.61%12.15%

Exhibit 2Flash Memory, Inc.Exhibit 2 Balance Sheets, 2007 - 2009 ($000s except number of shares outstanding)

December 31,200720082009201020112012Cash$2,536$2,218$2,934396047524752Accounts receivable$10,988$12,864$14,671197262367123671Inventories$9,592$11,072$11,509138651663816638Prepaid expenses$309$324$357480576576 Total current assets$23,425$26,478$29,471380314563745637

Property, plant & equipment at cost$5,306$6,116$7,282$8,182$9,082$9,982Less: Accumulated depreciation$792$1,174$1,6332179.152792.83473.95Net property, plant & equipment$4,514$4,942$5,649$6,003$6,289$6,508

Total assets$27,939$31,420$35,120$44,034$51,926$52,145

Accounts payable$3,084$4,268$3,929479957595759Notes payable (a)$6,620$8,873$10,132$14,568$18,345$14,604Accrued expenses$563$591$652876105105Income taxes payable (b) $151$9$167226263249Other current liabilities$478$502$554744893893 Total current liabilities$10,896$14,243$15,434$21,214$25,365$21,610

Common stock at par value$15$15$15$15$15$15Paid in capital in excess of par value$7,980$7,980$7,980798079807980Retained earnings$9,048$9,182$11,691$15,087$19,035$22,774 Total shareholders' equity$17,043$17,177$19,686$23,082$27,030$30,769

Total liabilities & shareholders' equity$27,939$31,420$35,120$44,296$52,396$52,379Difference-$263-$470-$234Number of shares outstanding1,491,6621,491,6621,491,6621,491,6621,491,6621,491,662

(a) Secured by accounts receivable.(b) To avoid a penalty for underpayment of income taxes, Flash made equal estimated tax payments quarterly on the 15th of April, June, September, and December of each year. The total of these four quarterly payments was required to equal at least the lesser of (a) 90% of the taxes that would actually be incurred in the same year, or (b) 100% of the taxes due on income of the prior year.

Exhibit 3Flash Memory, Inc.

Exhibit 3 Key Forecasting Assumptions and Relationships for 2010 Through 2012

Line ItemAssumption or RatioCost of goods sold81.10% of salesResearch and development5.0% of salesSelling, general and administrative8.36% of salesInterest expenseBeginning of year debt balance interest rateOther income (expenses)$50,000 of expense each yearCash3.3% of salesAccounts receivable60 days sales outstandingInventories52 days of cost of good soldPrepaid expenses0.4% of salesProperty, plant & equipment at costBeginning PP&E at cost + capital expendituresAccumulated depreciationBeginning A/D + 7.5% of beginning PP&E at costAccounts payable30 days of purchasesPurchases60% of cost of goods soldAccrued expenses0.73% of salesIncome taxes payable10% of income taxes expenseOther current liabilities0.62% of sales

Exhibit 4Flash Memory, Inc.

Exhibit 4 Selected Financial Information for Flash Memory, Inc., and Selected Competitors, 2007 through 2009

Flash Memory, Inc. Micron Technology20072008200930-Apr-10 (a)20072008200930-Apr-10 (a)

Sales ($ millions)7781895,6885,8414,803EPS ($)1.520.091.68-0.42-2.10-2.291.46Dividend per share ($)------------Closing stock price ($)n/an/an/a7.252.6410.569.35Shares outstanding (millions)1.4921.4921.492769.1772.5800.7847.6Book Value per share ($)11.4311.5213.2010.088.005.816.61ROE13.28%0.78%12.75%-4.13%-26.21%-39.43%21.00%Capitalization (book value) Debt28%34%34%24%31%40%33% Equity72%66%66%76%69%60%67%Beta coefficientn/a1.25

SanDisk Corporation STEC, Inc.

Sales ($ millions)3,9863,3513,567189227354EPS ($)0.84-8.821.833.710.200.091.471.29Dividend per share ($)------------Closing stock price ($)33.179.6028.9939.848.744.2616.3413.90Shares outstanding (millions)227.7225.3227.4229.349.850.049.450.3Book Value per share ($)22.6415.2717.1818.133.723.635.655.48ROE3.70%-57.74%10.63%17.87%5.40%2.36%26.06%18.90%Capitalization (book value) Debt15%22%21%19%0%0%0%0% Equity85%78%79%81%100%100%100%100%Beta coefficient1.361.00(a) Security analyst estimates for year-end EPS $ and Return on Equity; actual data on April 30, 2010, for all other items.San diskSTECMicroUnlevered Beta1.2811.041.11

NPVYears012345201020112012201320142015D/C0.18CAPEX-220000000E/C0.82Sales216002800028000110005000D/E0.22COGS1706422120221208690395079.0%79.0%79.0%79.0%79.0%depreciation440440440440440COGS-depri16624216802168082503510SGA180623412341920418promotion300EBIT2430353935391390632WC564873227322287713080Change in WC-5648-16740444615691308

EBIT2430353935391390632EBIT(1-T)145821242124834379

Free Cashflows-78482252564700928432127WACC (%)10.21%PV Cash Flow-78482042110523519271308NPV2936220095.652173913unlevered beta1.11Levered beta1.26Ke11.24Kd9.25