SanDisk Topped Q2 Estimates, Top Line Up 17% YoY

Published on Thu, 07/21/2011 - 16:08
By FNNO Staff in General Interest, SNDK, business, income, investment, market, news, shares, sndk, stocks, trade, News Update
business, income, investment, market, news, shares, sndk, stocks, trade

SanDisk (NASDAQ:SNDK) reported Q2 EPS of $1.14, ahead of consensus estimates of $0.99 per share. Revenues for the quarter rose 17% year-over-year to $1.38 billion, topping consensus estimates of $1.34 billion.

Sanjay Mehrotra, President and CEO, SanDisk said, "We delivered record quarterly revenue, driven by our broad product offerings and our well diversified Retail and OEM channels. Solid execution on product cost reductions enabled strong profitability. Our integration of Pliant Technology is progressing well and we are excited by our business prospects in the enterprise storage segment."

SanDisk has a potential upside of 49.6% based on a current price of $41.57 and an average consensus analyst price target of $62.17.

By FNNO Staff
fnnonline@gmail.com

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