SanDisk Marched Past Estimates As SSD Is 10% of Sales

RAMSanDisk Corporation (NASDAQ: SNDK) was already up big off the 2012 lows, but now we have earnings out. The flash memory leader turned in earnings of $1.05 in earnings per share on sales of $1.54 billion in revenue. We had the consensus earnings targets from Thomson Reuters at $0.76 EPS and $1.53 billion in sales. After items, the flash memory leader still earnings $0.87 per share and sales were down 2% annually but up 21% sequentially.

The company's solid-state drive business is contributing 10% of sales. Operating income as a percent of sales was 23.9% and gross profit as a percentage of sales was 39.9% (both non-GAAP of course). SanDisk said that its cash and short-term and long-term marketable investments totaled $5.71 billion at the end of the fourth quarter.

Shares were halted ahead of earnings after falling 0.6% to $47.65 on the day and its 52-week trading range is $30.99 to $52.64. We would also note that analysts had a consensus pre-earnings price target of about $51.62 for SanDisk shares on a one-year price target objective.

Until we have guidance, this is to be considered an incomplete earnings report.


Filed under: 24/7 Wall St. Wire, Consumer Electronics, Earnings, Semiconductor, Technology, Technology Companies Tagged: featured, SNDK
Read Full Story

Markets

DJIA 25,015.16 -4.25 -0.02%
NASDAQ 7,810.78 -15.20 -0.19%
NIKKEI 225 22,597.35 409.39 1.85%
HANG SENG 28,539.66 14.22 0.05%
DAX 12,561.02 20.29 0.16%
USD (per EUR) 1.17 0.00 0.27%
USD (per CHF) 1.00 -0.01 -0.50%
JPY (per USD) 112.30 -0.09 -0.08%
GBP (per USD) 1.32 0.00 0.03%