SanDisk Provides Business Update and Sets January 21 to Discuss Fourth Quarter Financial Results
January 12 2015 - 8:00AM
Business Wire
SanDisk Corporation (NASDAQ:SNDK), a global leader in flash
storage solutions, today provided preliminary revenue results for
its fourth fiscal quarter ended December 28, 2014. The company
estimates total revenue to be approximately $1.73 billion, lower
than the previously forecasted revenue range of $1.80 billion to
$1.85 billion. The lower revenue was primarily due to weaker than
expected sales of retail and iNAND products. Non-GAAP gross margin
for the fourth fiscal quarter is expected to be approximately 45%
compared to the previously guided range of 47% to 49%.
On Wednesday, January 21, 2015, SanDisk will publish its fourth
quarter fiscal 2014 financial results press release via business
wire after the close of market, and will hold its earnings
conference call at 2 p.m., Pacific time. To listen to the January
21, 2015 conference call, please dial 785-830-7989, password
9225981, at least 10 minutes before the call commences. The
conference call will also be available on a listen-only mode
webcast, and it can be accessed live from SanDisk’s website at
www.sandisk.com/ir. A replay of the webcast will also be made
available, on-demand, following the conclusion of the conference
call.
A reconciliation of expected non-GAAP gross margin to expected
GAAP gross margin for the fourth fiscal quarter is available on our
website at www.sandisk.com/IR.
Forward-Looking Statements
This news release contains certain forward-looking statements,
including those regarding our preliminary revenue and non-GAAP
gross margin results for the fourth quarter of fiscal year 2014.
The preliminary financial information provided in this press
release is based on management’s initial review of operations for
the quarter and is subject to our normal quarter- and year-end
accounting review and the review and subsequent audit by our
independent registered public accounting firm. The preliminary
financial information is based on our current expectations and is
subject to numerous risks and uncertainties that may cause these
forward-looking statements to be inaccurate.
Risks that may cause these forward-looking statements to be
inaccurate include, among others:
- that our preliminary results could be
adjusted or otherwise change after our normal quarter- and year-end
accounting review and the review and subsequent audit by our
independent registered public accounting firm; and
- the other risks detailed from
time-to-time under the caption “Risk Factors” and elsewhere in our
Securities and Exchange Commission filings and reports, including,
but not limited to, our Quarterly Report on Form 10-Q for the
fiscal quarter ended September 28, 2014.
All statements made in this press release are made only as of
the date of this release. We undertake no obligation to update the
information in this release in the event facts or circumstances
change after the date of this release.
About SanDisk
SanDisk Corporation (NASDAQ:SNDK), a Fortune 500 and S&P 500
company, is a global leader in flash storage solutions. For more
than 25 years, SanDisk has expanded the possibilities of storage,
providing trusted and innovative products that have transformed the
electronics industry. Today, SanDisk’s quality, state-of-the-art
solutions are at the heart of many of the world's largest data
centers, and embedded in advanced smart phones, tablets and PCs.
SanDisk’s consumer products are available at hundreds of thousands
of retail stores worldwide. For more information, visit
www.sandisk.com.
© 2015 SanDisk Corporation. All rights reserved. SanDisk is a
trademark of SanDisk Corporation, registered in the United States
and other countries.
SanDisk CorporationInvestor Contacts:Jay Iyer,
408-801-2067jay.iyer@sandisk.comBrendan Lahiff,
408-801-1732brendan.lahiff@sandisk.comMedia Contact:Michael
Diamond, 408-801-1108michael.diamond@sandisk.com
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