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SanDisk Lowers Q1 Revenue Guidance - Quick Facts

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SanDisk Corp. (SNDK: Quote) announced that it lowered its first-quarter total revenue guidance, due to weaker than expected pricing and demand.

For the first-quarter, the company now expects total revenue to be approximately $1.2 billion, down from the previously forecasted revenue range of $1.30 billion to $1.35 billion. Total gross margin is also expected to be below the previously guided range of 39% to 42%.

Analysts polled by Thomson Reuters expect the company to report revenues of $1.34 billion for the first-quarter. Analysts' estimates typically exclude special items.

SanDisk stated that it will release its first-quarter financial results and provide business commentary at its earnings conference call to be held on April 19, 2012.

SNDK closed Tuesday's regular trading at $50.05, up $0.45. However, in the after-hours, the stock is down $3.20 or 6.39%.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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After ending the previous session mostly higher, stocks may see some further upside in early trading on Wednesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 17 points. The Bank of Spain on Wednesday boosted its growth projections for Spain this year and the next after the economy grew at a faster rate in the second quarter. In its monthly economic bulletin, the bank raised the growth forecast for this year to 1.3 percent from the 1.2 percent seen previously. The projection for the next year was lifted to 2 percent from 1.7 percent. Bank of England policymakers unanimously decided to maintain the key interest rate and quantitative easing at the meeting held on July 9 and 10, but signaled the possibility of a rate hike late this year as growth became more established.
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