Sandisk Corp. (SNDK) Tops Q2 EPS by 33c

Sandisk Corp. (NASDAQ: SNDK) reported Q2 non-GAAP EPS of $0.66, $0.33 better than the analyst estimate of $0.33. EPS was down from $1.41 last year. Revenue for the quarter fell 24% from last year to $1.24 billion, but beat the consensus estimate of $1.2 billion.

Non-GAAP operating income in the quarter was $191 million versus $472 million last year.

“During the second quarter, we strengthened our portfolio with several new product launches in both the retail and commercial channels,” said Sanjay Mehrotra, president and chief executive officer, SanDisk. “We are making steady progress on all operational fronts, and remain focused on enhancing our financial performance.”

Separately, SanDisk declared a quarterly dividend of $0.30 per share, or $1.20 annualized. The dividend will be payable on August 25, 2015, to stockholders of record on August 3, 2015, with an ex-dividend date of July 30, 2015. The annual yield on the dividend is 2.2 percent.

UPDATE: Shares were halted and resumed trading at 4:25PM ET up 7% amid the report.

For earnings history and earnings-related data on Sandisk Corp. (SNDK) click here.

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