Memory chipmaker SanDisk (NASDAQ: SNDK)on Wednesday posted first-quarter revenue of $1.34 billion U.S. on net income of $166 million U.S., or 68 cents a share, helped by growing sales of solid-state drives.
Analysts on average expected first-quarter revenue of $1.307 billion U.S., according to Thomson Reuters I/B/E/S.
At the end of the first quarter of fiscal 2013, SanDisk’s cash and short and long-term marketable investments totaled $6.19 billion U.S. Cash flow from operations in the first quarter of fiscal 2013 totaled $474 million U.S.
SanDisk Corporation is a global leader in flash memory storage solutions, from research and development, product design and manufacturing to branding and distribution for commercial and retail channels. Its stock closed Wednesday's trading at $55.72 U.S. a share, down $1.77, or 3.1% from Tuesday's close.
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