Stock:
Symbol Lookup
Register | Login
...
History
...
...

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.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!
At $700 Billion, Apple Is A Top Mutual Fund HoldingAt $700 Billion, Apple Is A Top Mutual Fund Holding
Even before Apple Inc. (NASDAQ: AAPL ) rallied to a $700 billion market cap, it was one of the most widely-held stocks among institutions, along with fellow tech giants Google Inc , Microsoft Cor...
5 Hedge Funds Happy About Apple Today5 Hedge Funds Happy About Apple Today
Shares of Apple Inc. (NASDAQ: AAPL ) have been on a tear as of late, rising from just $96 on October 16th to nearly $120 per share on Tuesday, November 25th. According to 13F filings reported i...
UPDATE: Stifel Raises Apple Price TargetUPDATE: Stifel Raises Apple Price Target
On Tuesday, analysts at Stifel raised the price target on shares of Apple Inc. (NASDAQ: AAPL ) from $115 to $130 and maintained the Buy rating. Aaron Rakers is updating the firm`s estimates to in...
Tariff Removal Could Mean Fewer U.S. Jobs And Lower-Priced GoodsTariff Removal Could Mean Fewer U.S. Jobs And Lower-Priced Goods
Earlier this week the United States and China agreed to drop tariffs for various technology products , including GPS devices and semiconductors. Apple Inc. (NASDAQ: AAPL ) and other manufactur...
Which Mega Caps Are Buying Their Own Stock?Which Mega Caps Are Buying Their Own Stock?
The graph below was produced by  Capital Market Labs . Stock repurchases have been at or near all-time highs for a year now and some pundits have questioned if a part of the bull market run has bee...

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
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
Forex Forex Signals major FX pairs signals