SanDisk BAD RESULTS
Technological SanDisk Corp introduced 1Q15 results, with EPS adjusted below expectations (USD 0.62 vs. USD 0.66) and revenues above the consensus (USD 1330 mn vs. USD 1.30000 mn).
The CEO proved to be “disappointed” with the results and said the company is taking steps to resume execution excellence demonstrated in the past.
The guidance for 2015 has been revised downwards and missed the market consensus – revenue of USD 5400 mn – USD 5700 mn vs. USD 6150 mn expected.
The sales target for USD 1000 mn companies was discarded, although the company renewed commitment of capital return to shareholders, with additional buy-backs of USD 750 mn this year.
SanDisk Corporation is an American Company that designs, develops and manufactures flash memory storage solutions and software.
It was founded in 1988 by Dr. Eli Harari, Jack Yuan and Sanjay Mehrotra, technology experts.
The company is based in Silicon Valley and has more than half its sales outside USA.
Its products are sold at more than 260,000 retail locations in more than 100 countries. SanDisk became a publicly traded company on NASDAQ in November 1995. As of February 2015, its market capitalization was over US$17 billion.
Read more:
http://investor.sandisk.com/phoenix.zhtml?c=86495&p=irol-irhomemain
http://www.zdnet.com/article/sandisk-q1-2015-earnings-hardware-flash-memory/
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