SanDisk (NASDAQ: SNDK) has posted fourth-quarter earnings of non-GAAP EPS of $0.69 on revenues of $1.246 billion. Estimates from First Call were $0.64 EPS on $1.27 Billion in revenues.
Eli Harari, Chairman & CEO: “Despite current uncertainties in the worldwide economy and a challenging industry pricing environment in the first quarter, we expect to grow our top and bottom line in 2008, driven by continuing strength in our mobile markets, our expanding international retail footprint and our competitive cost structure.”
SanDisk also repurchased 7.5 million shares during 2007 under its $300 million share repurchase plan to reduce the dilution from the issuance of employee equity incentive awards.
American Technology Research analyst Doug Freedman just cut estimates for Q4 2007 and for 2008 this morning, so we’d ratchet those First Call numbers down slightly. Shares had been down early in the day, but SanDisk shares closed up 1% to $25.89 in normal trading. That is toward the bottom of the $24.29 to $59.75 trading range seen over the last 52-weeks.
Unfortunately, this does not include any formal guidance so this might as well be considered as unfinished business. Ahead of the conference call, this one traded up 3.9% in after-hours trading to $26.90.
Jon C. Ogg
January 28, 2008
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