SanDisk Corporate Earnings Driven by SSD Strength

The company’s summary was $0.84 EPS and $1.34 billion in revenue versus Thomson Reuters estimates of $0.77 EPS and $1.3 billion in revenue.

We would note that BofA/Merrill Lynch said that SanDisk was going to beat earnings handily and that it sees upside to its $66 price target. It is worth noting that solid-state drive (SSD) products drove 20% of sales in the quarter and SanDisk expects gains in 2013. Cash flow from operations totaled $474 million and its cash and cash-equivalents totaled $6.19 billion in the last quarter.

Be advised that SanDisk did not offer guidance ahead. Without guidance, you should consider this to be unfinished business. SanDisk was down 3% to $55.72 in regular trading and the stock is down close to 5% more while waiting for guidance.