Breaking News
FONT-SIZE Plus   Neg
Share SHARE

SanDisk Lowers Q1 Revenue Outlook, Shares Fall 7%

RELATED NEWS
Trade SNDK now with 

SanDisk Corp. (SNDK: Quote), 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.

Register
To receive FREE breaking news email alerts for Sandisk Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Texas Instruments Inc., the world's largest maker of analog chips, said Monday after the markets closed that its second quarter profit rose 3% from last year, as revenue increased 8%. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave an upbeat outlook for the third quarter. After coming under pressure in early trading on Monday, stocks regained some ground over the course of the trading session but still closed modestly lower. The pullback on the day partly offset the strength that was seen last week. With his second term becoming increasingly dominated by turmoil overseas, President Barack Obama addressed both the conflict in Gaza and the Malaysia Airlines crash in Ukraine in remarks on Monday.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.