S&P 500 (NYSE:SPY) component SanDisk (NASDAQ:SNDK) will unveil its latest earnings tomorrow, Wednesday, January 23, 2013. SanDisk is a multinational corporation whose main focus is the design, development, manufacturing and marketing of flash memory card products. Its data-storage solutions include removable cards and universal serial bus drives, which can be used in a wide gamut of consumer electronics products, such as digital cameras and mobile phones.
SanDisk Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 68 cents per share, a decline of 45.2% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 54 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 68 cents during the last month. Analysts are projecting profit to rise by 58% compared to last year’s $1.83.
Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the third quarter, the company reported net income of 42 cents per share versus a mean estimate of profit of 29 cents per share. In the second quarter, the company missed estimates by 2 cents.
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A Look Back: In the third quarter, profit fell 67.2% to $76.5 million (31 cents a share) from $233.3 million (96 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 10.1% to $1.27 billion from $1.42 billion.
Here’s how SanDisk traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week: