Symbol Lookup
Register | Login

Pre Market | Dow Jones | Gold | Newsletters | Learn

SanDisk Q3 Profit Clocks More Than Threefold Increase

Thursday, October 17, 2013 7:08 AM
SanDisk Corp. (NASDAQ: SNDK) reported late on Wednesday that fiscal third-quarter income more than trebled as the memory chipmaker sold more chips amid rising demand from smartphone and tablet makers. The Milpitas, California-based company posted a profit of $277 million or $1.18 a share for the period ended September 29 compared to an income of $76.5 million or 31 cents a share, in the year-ago period. Excluding accounting charges linked to past acquisitions and other onetime items, the company earned $1.59 a share, beating analysts’ consensus estimate of $1.31 a share, according to a data compiled by FactSet. Revenue jumped 28% to $1.63 billion which was about $60 million more than Wall Street’s consensus expectation. The latest period included proceeds from Smart Storage Systems, which the Company acquired in late August. For the current quarter, SanDisk expects revenue to be in the range of $1.65 billion to $1.73 billion. Analysts had forecasted revenue of $1.67 billion, according to poll conducted by FactSet. SanDisk, whose clientele list includes prominent buyers such as Apple Inc. (NASDAQ: AAPL), has been posting strong quarterly results in the recent past. Proliferation of smartphone usage and other devices which rely on flash memory is boosting the top line growth. Commenting over the results, SanDisk President and CEO, Sanjay Mehrotra, said “We delivered outstanding third quarter results driven by our strategy to shift to higher value solutions across our portfolio," "Our client and enterprise SSD products continue to gain momentum and our acquisition of SMART Storage Systems expands our presence in enterprise SSDs, added Mehrotra.

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!
Report: Steve Jobs Wanted To 'Secure A License ASAP' After He Saw This TechnologyReport: Steve Jobs Wanted To 'Secure A License ASAP' After He Saw This Technology
Tom Shaughnessy is the author of SecretCaps . Network-1 Technologies Inc (NYSE: NTIP ) is an under-the-radar microcap company whose strong merits have gone unnoticed in the eyes of institutions...
3 Ways Apple Is Changing Retail3 Ways Apple Is Changing Retail
Following Apple Inc.’s (NASDAQ: AAPL ) earnings call Tuesday, where it reported a  record-breaking quarter  (including the sale of  74.5 million iPhones ), analysts throughout Wall Street have weig...
10 Apple Product Concepts...That Didn't Come True10 Apple Product Concepts...That Didn't Come True
Apple Inc. (NASDAQ: AAPL ) finally unveiled the Apple Watch last September, proving once and for all that the product is real. Unfortunately, the same cannot be said for a plethora of other rumore...
Apple Posts Record-Breaking Q1 Revenue, EarningsApple Posts Record-Breaking Q1 Revenue, Earnings
Apple Inc. (NASDAQ: AAPL ) announced financial results Tuesday for its fiscal 2015 first quarter ended December 27, 2014. The company posted record quarterly revenue of $74.6 billion, well above e...
Tech Stock Strategist: Apple Will Probably Trade On The GuidanceTech Stock Strategist: Apple Will Probably Trade On The Guidance
Quantum Trading Strategies CIO and tech stock strategist Sean Udall spoke to Benzinga during Monday`s #PreMarket Prep to discuss Apple Inc.`s (NASDAQ: AAPL ) upcoming earnings. Udall noted th...
Will Chinese iPhone Sales Dominate Apple's Q1 Earnings Call?Will Chinese iPhone Sales Dominate Apple's Q1 Earnings Call?
Apple Inc. (NASDAQ: AAPL ) is less than 12 hours away from reporting the results from its fiscal first quarter, which covers the December sales period. Analysts expect big things from the iPhon...
Earnings Scheduled For January 27, 2015Earnings Scheduled For January 27, 2015
3M Company (NYSE: MMM ) is expected to report its Q4 earnings at $1.80 per share on revenue of $7.77 billion. Apple Inc. (NASDAQ: AAPL ) is estimated to post its Q1 earnings at $2.60 per share ...
Why This Hedge Fund Manager Thinks Apple Watch Doesn't Need To Succeed In 2015Why This Hedge Fund Manager Thinks Apple Watch Doesn't Need To Succeed In 2015
In an interview on Benzinga`s #PreMarket Prep , Rev. Emmanuel Lemelson from Lemelson Capital Management discussed the importance of the impact on the Apple Watch for 2015, noting that it doesn`t nece...
Prince Alwaleed bin Talal: Saudi Arabia Is Not Using Oil Price To Impact Fracking Industry In U.S.Prince Alwaleed bin Talal: Saudi Arabia Is Not Using Oil Price To Impact Fracking Industry In U.S.
Though Prince Alwaleed bin Talal has most of his fortune invested in companies like Citigroup Inc (NYSE: C ) (of which he is the largest individual shareholder) and Apple Inc . (NASDAQ: AAPL ), h...
Will Apple Rise On Record iPhone Sales Or Fall On Weak Apple Watch Guidance?Will Apple Rise On Record iPhone Sales Or Fall On Weak Apple Watch Guidance?
Investors are anxiously waiting to see how Apple Inc. (NASDAQ: AAPL ) performed during the December quarter. The company`s earnings results will be released Tuesday, January 27. In the meantime, ...

Loading Headlines...

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.

Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
AppleStock FREE AAPL Signals realtime daytrade signals