SanDisk Marched Past Estimates As SSD Is 10% of Sales

Before you go, we thought you'd like these...
Before you go close icon

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

S&P 500 2,387.45 -1.16 -0.05%
DJIA 20,975.09 -21.03 -0.10%
NASDAQ 6,025.23 -0.27 0.00%
DAX 12,472.80 5.76 0.05%
NIKKEI 225 19,249.94 -39.49 -0.20%
HANG SENG 24,648.20 69.77 0.28%
USD (per EUR) 1.09 0.00 0.00%
USD (per CHF) 0.99 0.00 0.08%
JPY (per USD) 111.32 0.13 0.12%
GBP (per USD) 1.28 0.00 0.03%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts
Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport
Man Is Horrified To Learn His Biological Father's Identity - But A Look In The Mirror Man Is Horrified To Learn His Biological Father's Identity - But A Look In The Mirror