SanDisk Corp. (NASDAQ: SNDK) reported earnings of -$0.48 in non-GAAP EPS on a 22% revenue decline to $659 million. Estimates from Thomson Reuters were -$0.76 EPS on $537.7 million in sales for the quarter. The company noted that it is encouraged that industry supply and demand balance is becoming better aligned resulting in higher flash pricing.
We did not see guidance, so consider this unfinished business until the conference call is complete.
Shares closed up 2.3% at $13.71 today and their 52-week trading range is $5.07 to $33.17; so far we are seeing the stock up at $14.60 in after-hours trading.
JON C. OGG
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