SanDisk Q2 Profit Tops Estimate

(RTTNews) - SanDisk Corp. (SNDK) reported second quarter net income of $81 million or $0.38 per share, compared to $274 million or $1.14 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $136 million or $0.66 per share, compared to $329 million or $1.41 per share in the prior year quarter.

Second quarter revenue fell 24% to $1.24 billion from $1.63 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.33 per share on revenue of $1.20 billion for the second quarter. Analysts' estimates typically exclude special items.