SanDisk Q2 Profit Slips 95 Percent From Previous Year

Published: Jul 19, 2012
Updated: Feb 2, 2021
1 minute read
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There might be some consternation at the SanDisk headquarters and among shareholders as the result of solid-state drive (SSD) price wars that are currently in full swing.

The solid-state storage media maker, best known for making those little blue Secure Digital, or SD, cards for cameras and smartphones, reported July 19 a second-quarter profit of $12.97 million, or 5 cents a share. That doesn’t sound too bad until one compares it with the year-ago profit of $284.4 million, or $1.02 a share.

Total second-quarter revenue of $1.03 billion declined 25 percent on a year-over-year basis and 14 percent on a sequential basis.

The Milpitas, Calif.-based company cited weakness in its original equipment manufacturer sales. Competition from such NAND flash media makers as WD, Hitachi and Samsung also played a part in this decline.

Shares of SanDisk have fallen 29 percent so far this year, closing July 19 at $35.08.

Chris Preimesberger

Chris J. Preimesberger is Editor Emeritus of eWEEK. In his 16 years and more than 5,000 articles at eWEEK, he distinguished himself in reporting and analysis of the business use of new-gen IT in a variety of sectors, including cloud computing, data center systems, storage, edge systems, security and others. In February 2017 and September 2018, Chris was named among the 250 most influential business journalists in the world (https://richtopia.com/inspirational-people/top-250-business-journalists/) by Richtopia, a UK research firm that used analytics to compile the ranking. He has won several national and regional awards for his work, including a 2011 Folio Award for a profile (https://www.eweek.com/cloud/marc-benioff-trend-seer-and-business-socialist/) of Salesforce founder/CEO Marc Benioff--the only time he has entered the competition. Previously, Chris was a founding editor of both IT Manager's Journal and DevX.com and was managing editor of Software Development magazine. He has been a stringer for the Associated Press since 1983 and resides in Silicon Valley.

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