SanDisk Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component SanDisk Corp (NASDAQ:SNDK) will unveil its latest earnings on Thursday, October 20, 2011. 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 (NYSE:USB) 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 $1.02 per share, a decline of 15% 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 $1.16. Between one and three months ago, the average estimate moved down. It has risen from $1.01 during the last month. Analysts are projecting profit to rise by 2.5% versus last year to $4.24.

Past Earnings Performance: Last quarter, the company beat estimates by 5 cents, coming in at profit of $1.02 a share versus the estimate of net income of 97 cents a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: On average, analysts predict $1.42 billion in revenue this quarter, a rise of 15.4% from the year ago quarter. Analysts are forecasting total revenue of $5.68 billion for the year, a rise of 17.6% from last year’s revenue of $4.83 billion.

Analyst Ratings: Analysts are bullish on this stock with 18 analysts rating it as a buy, one rating it as a sell and two rating it as a hold.

A Look Back: In the second quarter, profit fell 3.7% to $248.4 million ($1.02 a share) from $257.9 million ($1.08 a share) the year earlier, but exceeded analyst expectations. Revenue rose 16.6% to $1.37 billion from $1.18 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 19.1% in the first quarter from the year earlier, climbed 6.9% in the fourth quarter of the last fiscal year from the year-ago quarter and 31.9% in the third quarter of the last fiscal year.

The company has seen net income fall in each of the last two quarters. Net income dropped 4.5% in the first quarter.

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 August 18, 2011 to October 14, 2011, the stock price had risen $13.15 (39.1%) from $33.64 to $46.79. The stock price saw one of its best stretches over the last year between September 2, 2011 and September 15, 2011 when shares rose for nine-straight days, rising 23.3% (+$8.14) over that span. It saw one of its worst periods between August 15, 2011 and August 22, 2011 when shares fell for six-straight days, falling 15.3% (-$5.83) over that span. Shares are down $3.07 (-6.2%) year to date.

(Source: Xignite Financials)

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