SanDisk Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component SanDisk Corp (NASDAQ:SNDK) will unveil its latest earnings on Thursday, July 21, 2011. SanDisk Corp. 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 Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 95 cents per share, a decline of 12% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.02. Between one and three months ago, the average estimate moved down and dropped from 98 cents during the last month. For the year, analysts are projecting profit of $4.32 per share, a decline of 0.7% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by one cent, reporting net income of 97 cents per share against a mean estimate of profit of 96 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $1.34 billion in revenue this quarter, a rise of 13.6% from the year ago quarter. Analysts are forecasting total revenue of $5.78 billion for the year, a rise of 19.7% from last year’s revenue of $4.83 billion.

Analyst Ratings: Analysts are bullish on this stock with 15 analysts rating it as a buy, one rating it as a sell and two rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

Key Stats:

The decrease in profit in the first quarter breaks a streak of three consecutive quarters of year-over-year profit increases. Net income fell 4.5% in the first quarter from the year earlier, while the figure rose 43% in the fourth quarter of the last fiscal year, 39.3% in the third quarter of the last fiscal year and more than fourfold in the second quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 19.1% to $1.29 billion in first quarter. The figure rose 6.9% in the fourth quarter of the last fiscal year from the year earlier, climbed 31.9% in the third quarter of the last fiscal year from the year-ago quarter and 61.4% in the second quarter of the last fiscal year.

Competitors to Watch: Western Digital Corp. (NYSE:WDC), STEC, Inc. (NASDAQ:STEC), OCZ Technology Group Inc. (NASDAQ:OCZ), Micron Technology, Inc. (NASDAQ:MU), EMC Corporation (NYSE:EMC), Seagate Technology PLC (NASDAQ:STX), Imation Corp. (NYSE:IMN), Quantum Corporation (NYSE:QTM), Hutchinson Technology Inc. (NASDAQ:HTCH), and Apple Inc. (NASDAQ:AAPL).

Stock Price Performance: During April 19, 2011 to July 15, 2011, the stock price had fallen $5.27 (-11.2%) from $46.89 to $41.62. The stock price saw one of its best stretches over the last year between April 18, 2011 and April 27, 2011 when shares rose for seven-straight days, rising 9.2% (+$4.26) over that span. It saw one of its worst periods between August 18, 2010 and August 27, 2010 when shares fell for eight-straight days, falling 23.8% (-$10.67) over that span. Shares are down $8.24 (-16.5%) year to date.

(Source: Xignite Financials)

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