Sandisk (SNDK)
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SanDisk 1Q Net Falls 4.5%; Adjusted Results Rise, Top Street
SAN FRANCISCO -(Dow Jones)- SanDisk Corp.'s (SNDK) first-quarter profit fell 4.5%, but the flash-memory maker's revenue growth topped expectations and executives forecast that demand would remain strong despite supply constraints in Japan.
The Milpitas, Calif.-based company has been benefiting from recovering demand for flash-memory products, which are used in consumer products like smartphones and tablet computers.
"We feel that the environment for demand is strong in 2011 and beyond," said Chief Executive Sanjay Mehrotra on a conference call. He added that demand from tablet makers is "picking up nicely."
The company said it expected second-quarter revenue to be in a range of $1.3 billion to $1.35 billion, in line with the consensus Wall Street forecast of $ 1.33 billion.
Mehrotra told CNBC that the recent earthquake, tsunami and nuclear crisis in Japan had caused "minimal disruption" to company's supply chain. He said the company's factories are located about 500 miles away from the disaster zone and were disrupted for one day before operations returned to normal.
Several analysts had been concerned SanDisk might be affected by power supply and wafer constraints at partner Toshiba (TOSYY, 6502.TO). Mehrotra later told analysts the company expects "to be somewhat supply constrained for the remainder of the year."
Those concerns were somewhat offset by what Chief Financial Officer Judy Bruner called a "favorable pricing environment" in the first quarter and so far in the second quarter.
On Thursday, SanDisk posted a profit of $224.1 million, or 92 cents a share, down from $234.7 million, or 99 cents a share, a year earlier. Excluding items such as stock-based compensation, per-share earnings rose to $1.03 from 95 cents. Analysts polled by Thomson Reuters expected a profit of $1 a share.
Revenue jumped 19% to $1.29 billion. The company in January had projected revenue of $1.2 billion to $1.28 billion, above expectations at the time.
SanDisk earnings beat targets for first quarter
SanDisk Corp. reported better-than-expected earnings for the first quarter Thursday afternoon, with an 11% gain in operating income driven by growing demand for its flash memory products in mobile devices. For the quarter ended April 3, SanDisk /quotes/comstock/15*!sndk/quotes/nls/sndk SNDK +1.11% reported net income of $224.1 million, or 92 cents per share, compared to earnings of $234.7 million, or 99 cents a share, for the same period last year. The company said it would have earned $251 million, or $1.03 per share, for the recent quarter on a non-GAAP basis. Revenue grew 19% to $1.29 billion. Analysts were expecting earnings of 99 cents a share on revenue of $1.26 billion, according to consensus estimates from FactSet Research.
La trimestrale sopra le attese sembra aver dato nuovo impulso al titolo che potrebbe ripartire dopo qualche mese di consolidamento. Vedremo...
SanDisk 1Q Net Falls 4.5%; Adjusted Results Rise, Top Street
SAN FRANCISCO -(Dow Jones)- SanDisk Corp.'s (SNDK) first-quarter profit fell 4.5%, but the flash-memory maker's revenue growth topped expectations and executives forecast that demand would remain strong despite supply constraints in Japan.
The Milpitas, Calif.-based company has been benefiting from recovering demand for flash-memory products, which are used in consumer products like smartphones and tablet computers.
"We feel that the environment for demand is strong in 2011 and beyond," said Chief Executive Sanjay Mehrotra on a conference call. He added that demand from tablet makers is "picking up nicely."
The company said it expected second-quarter revenue to be in a range of $1.3 billion to $1.35 billion, in line with the consensus Wall Street forecast of $ 1.33 billion.
Mehrotra told CNBC that the recent earthquake, tsunami and nuclear crisis in Japan had caused "minimal disruption" to company's supply chain. He said the company's factories are located about 500 miles away from the disaster zone and were disrupted for one day before operations returned to normal.
Several analysts had been concerned SanDisk might be affected by power supply and wafer constraints at partner Toshiba (TOSYY, 6502.TO). Mehrotra later told analysts the company expects "to be somewhat supply constrained for the remainder of the year."
Those concerns were somewhat offset by what Chief Financial Officer Judy Bruner called a "favorable pricing environment" in the first quarter and so far in the second quarter.
On Thursday, SanDisk posted a profit of $224.1 million, or 92 cents a share, down from $234.7 million, or 99 cents a share, a year earlier. Excluding items such as stock-based compensation, per-share earnings rose to $1.03 from 95 cents. Analysts polled by Thomson Reuters expected a profit of $1 a share.
Revenue jumped 19% to $1.29 billion. The company in January had projected revenue of $1.2 billion to $1.28 billion, above expectations at the time.
SanDisk earnings beat targets for first quarter
SanDisk Corp. reported better-than-expected earnings for the first quarter Thursday afternoon, with an 11% gain in operating income driven by growing demand for its flash memory products in mobile devices. For the quarter ended April 3, SanDisk /quotes/comstock/15*!sndk/quotes/nls/sndk SNDK +1.11% reported net income of $224.1 million, or 92 cents per share, compared to earnings of $234.7 million, or 99 cents a share, for the same period last year. The company said it would have earned $251 million, or $1.03 per share, for the recent quarter on a non-GAAP basis. Revenue grew 19% to $1.29 billion. Analysts were expecting earnings of 99 cents a share on revenue of $1.26 billion, according to consensus estimates from FactSet Research.
La trimestrale sopra le attese sembra aver dato nuovo impulso al titolo che potrebbe ripartire dopo qualche mese di consolidamento. Vedremo...