Thursday, July 21, 2011

SanDisk Corp. (NASDAQ: SNDK): Q2 2011 Earnings Roundup

SanDisk Corp. (NASDAQ: SNDK) reported Thursday that its secons quarter profit droppe slightly to $248 million, or $1.02 a share, from $258 million, or $1.08 a share, in the year-ago quarter. On an adjusted basis, the company earned $1.14 a share in the latest quarter. Revenue rose to $1.375 billion from $1.179 billion in the same quarter last year. Analysts, on average, expected the company to report earnings of 99 cents per share on revenue of $1.34 billion.

"We delivered record quarterly revenue, driven by our broad product offerings and our well diversified Retail and OEM channels," said Sanjay Mehrotra, President and CEO, SanDisk. "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."

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