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
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