The company’s solid-state drive business is contributing 10% of sales. Operating income as a percent of sales was 23.9% and gross profit as a percentage of sales was 39.9% (both non-GAAP of course). SanDisk said that its cash and short-term and long-term marketable investments totaled $5.71 billion at the end of the fourth quarter.
Shares were halted ahead of earnings after falling 0.6% to $47.65 on the day and its 52-week trading range is $30.99 to $52.64. We would also note that analysts had a consensus pre-earnings price target of about $51.62 for SanDisk shares on a one-year price target objective.
Until we have guidance, this is to be considered an incomplete earnings report.
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