SanDisk (SNDK) Flys Higher On Strong Q3 Results
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Price: $1,593.61 +1.58%
Financial Fact:
Total other income (expense): -15.35M
Today's EPS Names:
EDXC, BICX, FBPI, More
Financial Fact:
Total other income (expense): -15.35M
Today's EPS Names:
EDXC, BICX, FBPI, More
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SanDisk Corporation (Nasdaq: SNDK) has jumped 11 percent in after-hours Tuesday after announcing a strong growth in revenue and profits. The U.S. based global-leader in flash memory reported a third quarter non-GAAP EPS of $0.75 and a revenue of $935 million, beating the analyst estimate of $0.26 and $788 million, respectively.
"Our outstanding Q3 results reflect major gains in our OEM business with strong orders continuing into Q4," Eli Harari, Chairman and CEO, SanDisk stated. "We are encouraged by improved industry fundamentals and our increasingly diversified global markets, which bode well for further growth in Q4 and in 2010."
Profit on a GAAP basis for SanDisk during the third-quarter came in at $231.3 million (99 cents per share). Comparatively, the company saw a loss of $166 million (74 cents per share) in the third quarter of 2008.
Total units sold for the company in the third quarter rose 45 percent over the second quarter, and the price per gigabyte fell by 3 percent.
On its call, SanDisk said it Q4 revenues of $1.1-$1.2 billion, which compares very favorable to the consensus of $857.7 million. SanDisk sees Q4 non-GAAP product gross margin of 25%-35%.
SanDisk is currently moving in the market at $23.52, up 9.6 percent in market after-hours.
"Our outstanding Q3 results reflect major gains in our OEM business with strong orders continuing into Q4," Eli Harari, Chairman and CEO, SanDisk stated. "We are encouraged by improved industry fundamentals and our increasingly diversified global markets, which bode well for further growth in Q4 and in 2010."
Profit on a GAAP basis for SanDisk during the third-quarter came in at $231.3 million (99 cents per share). Comparatively, the company saw a loss of $166 million (74 cents per share) in the third quarter of 2008.
Total units sold for the company in the third quarter rose 45 percent over the second quarter, and the price per gigabyte fell by 3 percent.
On its call, SanDisk said it Q4 revenues of $1.1-$1.2 billion, which compares very favorable to the consensus of $857.7 million. SanDisk sees Q4 non-GAAP product gross margin of 25%-35%.
SanDisk is currently moving in the market at $23.52, up 9.6 percent in market after-hours.
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