SanDisk estimates lower fourth quarter revenue, shares fall
By Reuters
Jan 12, 2015 10:08 AM EST
Regions
Sandisk's new solid state drive is displayed at the Sandisk booth during the 2014
(Photo : REUTERS/PICHI CHUANG)
(Photo : REUTERS/PICHI CHUANG)
SanDisk Corp (SNDK.O) estimated fourth-quarter revenue below its forecast, citing lower revenue primarily due to weaker-than-expected sales of its retail products and NAND storage chips.
The company said it now expects revenue of $1.73 billion. It had previously forecast revenue of $1.80 billion-$1.85 billion.
SanDisk, whose shares fell about 7 percent in premarket trading, also lowered its adjusted gross margin estimate to about 45 percent compared from its forecast of 47-49 percent.
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