Sandisk Corp. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Sandisk Corp. (SNDK) announced earnings for first quarter that Decreased from last year but beat the Street estimates.

The company's earnings came in at $112 million, or $0.75 per share. This compares with $211 million, or $1.46 per share, last year.

Excluding items, Sandisk Corp. reported adjusted earnings of $181 million or $1.22 per share for the period.

Analysts on average had expected the company to earn $0.89 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 22.3% to $2.30 billion from $1.88 billion last year.

Sandisk Corp. earnings at a glance (GAAP) :

-Earnings: $112 Mln. vs. $211 Mln. last year. -EPS: $0.75 vs. $1.46 last year. -Revenue: $2.30 Bln vs. $1.88 Bln last year.

-Guidance: Next quarter EPS guidance: $3.00 - $3.40 Next quarter revenue guidance: $2,550 - $2,650 Mln