SanDisk Corporation (SNDK) Up after Q3 Results

SanDisk Corporation (NASDAQ: SNDK) shares are trading higher after the company reported its third-quarter financial results. Shares were up 2.07% to $37.89, at last check, on above average volume of 15.38 million. The stock touched an intra-day high of $39.45, after opening at $38.70. It has a 52-week range of $19.18-$50.55. Yesterday, the company reported third-quarter 2010 financial results, with net revenues of $1.23 billion, representing 32% growth as compared to previous year. The net income stood at $322 million, or $1.34 per diluted share, compared to previous year. The OEM and retail businesses were the major contributors to this quarter's performance. The third quarter saw solid execution, stable pricing and substantial cost reductions, which led to record high operating and net income and the highest ever total gross margin of 52%. The company will continue its focus on diversified channels, including inroads for its embedded storage products in smartphones, tablet PC's and other mobile devices for 2011. SanDisk Corporation is engaged in the designing, developing and manufacturing of data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. The company is based in Milpitas, California. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
tdp2664
Epic Stock Picks