4.7GB when 1K = 1,000 (marketing speak)
4.3GB formatted when 1K = 1,024 (computer speak)
This will happen anytime you use a hard drive, CD, DVD, flash RAM thumb drive, CF camera card, etc...
For example, take a close look at the hard drive in your computer. It may be advertised as a "60GB" drive, but as far as the computer is concerned, it is a 53GB drive (or thereabouts).