SanDisk turned out to have had a much more accurate sales forecast for the second quarter of the year (2012), but that isn't really a good thing, despite the seemingly optimistic press release.
SadDisk's revenues fell by a great deal, both year-over-year and compared to the quarter prior to the one now under the magnifying glass.
Like them, it managed to get away with a positive balance on paper, but by a much narrower margin, especially compared to the first two.
What we mean by that is that SanDisk still succeeded in accumulating some income instead of incurring losses.
The net sum is of $13 million, or €10.60 million according to exchange rates. That corresponds to $0.05 / €0.04 per share.
For the sake of comparison, the flash memory storage developer and manufacturer gathered $248 million / €202 million in the second quarter of fiscal year 2011 (ended July 1).
As for full revenues, the total for 2QFY12 was $1,03 billion / €840 million, exhibiting a 14% sequential drop and an on-year decline of 25%.
If there was any rise in solid state drive and memory card sales this year, SanDisk definitely didn't ride it. Nevertheless, the results are in line with its initial forecast.
"We delivered second quarter results in line with our forecast, reflecting short-term weakness in our mobile OEM sales, strength in retail, especially in international markets, and growth in our enterprise and client SSD products,” said Sanjay Mehrotra, president and chief executive officer of SanDisk.
“I am pleased to report that our SSD revenues achieved 10% of second quarter sales with growing adoption of our solutions by major OEMs. We also made good progress on our embedded product roadmap for mobile customers. We believe that strengthening industry fundamentals and our expanding portfolio of solutions will contribute to improving financial results in the second half of 2012."
Via: SanDisk Meets Its Financial Expectations and Sees Revenues Plummet
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