SanDisk Q4 Profit Surges On Higher Revenue

(RTTNews) - SanDisk Corporation (SNDK) on Wednesday, reported sharply higher fourth-quarter and full-year results, driven by a significant increase in revenue.

For the fourth quarter, revenue surged to $8.97 billion from $1.90 billion a year earlier. Net income was $6.90 billion, compared with a net loss of $23 million in the prior-year quarter. Earnings per share were $43.97, compared with a loss per share of $0.16 a year earlier.

For the full year, revenue increased to $20.25 billion from $7.36 billion in the prior year. Net income was $11.43 billion, compared with a net loss of $1.64 billion a year earlier. Earnings per share were $73.76, compared with a loss per share of $11.32 in the prior year.

SNDK is currently trading after hours at $1,262.88 down $87.62 or 6.49 percent on the Nasdaq.