logo
Share SHARE
FONT-SIZE Plus   Neg

SanDisk Lowers Q1 Revenue Outlook, Shares Fall 7%

SanDisk Corp. (SNDK), Tuesday lowered its first-quarter revenue outlook, due largely to weaker pricing and demand. The news dragged SanDisk shares down by seven percent in after-hours trade on the Nasdaq.

The Milpitas, California-based flash-memory card maker now expects first quarter total revenue of about $1.2 billion, compared to prior the estimate in the range of $1.30 billion to $1.35 billion. Analysts polled by Thomson Reuters currently expect revenues of $1.34 billion for the quarter.

SanDisk currently expects total gross margin to be below its guidance range of 39 to 42 percent.

SanDisk is scheduled to release its first-quarter results on April 19.

SanDisk designs and makes NAND flash memory storage solutions that are used in various consumer electronics products. Its products include removable cards under the SanDisk Ultra, SanDisk Extreme, and SanDisk Extreme PRO brands; embedded products under the iNAND brand; universal serial bus (USB) flash drives under the Cruzer brand; digital media players under the Sansa brand; solid state drives under the Lightning brand; and wafers and memory components.

SNDK closed Tuesday's trading at $50.05, up 0.91% However, in the after-hours, the stock fell 7.85%. Trading volume for the day was 4.7 million shares, below the three-month average volume of 5.5 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Xiaomi Corp., nicknamed the "Apple of China" is planning to launch laptops, a report by Bloomberg said. The Chinese brand has been pausing a direct challenge to major smart phone brands in Asian markets in the recent years. It has planned to win over China, India and Brazil markets those together would account for one third of the worldwide sales. Value-priced fashion apparel and accessories retailer Cato Corp. (CATO) Thursday announced a four percent increase in comparable store sales for August. Sales were for the four week period was up five percent to $67 percent from $63.6 million last year. For the thirty weeks ended August 29, the... Simple, uncluttered, colorful and friendly. That's how Google describes its new logo. The new typeface is sans-serif and without any shadow or embossing, unlike its earlier logos. It has given blue, red, yellow and green to its letters. The "e" is slightly tilted and stylized. On its browser tabs, it has replaced the lower case blue colored "g" with an upper case "G" in four colors.
comments powered by Disqus
RELATED NEWS
Trade SNDK now with 
Follow RTT