Sandisk Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 28, 2015; Provides Earnings Guidance for the Third Quarter, Second Half and Full Year of 2015
Jul 22 15
SanDisk Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 28, 2015. For the quarter, the company reported revenue of $1,237,196,000, operating income of $103,921,000, income before income taxes of $91,144,000, net income of $80,973,000 or $0.38 per diluted share, non-GAAP net income of $136,456,000 or $0.66 per diluted share, non-GAAP operating income of $190,846,000, net cash provided by operating activities of $28,864,000, acquisition of property and equipment, net of $95,562,000 compared to revenue of $1,634,011,000, operating income of $416,656,000, income before income taxes of $403,077,000, net income of $273,946,000 or $1.14 per diluted share, non-GAAP net income of $328,699,000 or $1.41 per diluted share, non-GAAP operating income of $472,307,000, net cash provided by operating activities of $240,860,000, acquisition of property and equipment, net of $44,149,000 for the same quarter a year ago. Purchased technology and other assets was $5,374,000 against $684,000 a year ago.
For the six month, the company reported revenue of $2,569,437,000, operating income of $161,108,000, income before income taxes of $124,761,000, net income of $119,998,000 or $0.55 per diluted share, non-GAAP net income of $270,143,000 or $1.27 per diluted share, non-GAAP operating income of $388,880,000, net cash provided by operating activities of $337,729,000, acquisition of property and equipment, net of $193,849,000 compared to revenue of $3,145,956,000, operating income of $841,830,000, income before income taxes of $812,616,000, net income of $542,894,000 or $2.28 per diluted share, non-GAAP net income of $658,729,000 or $2.84 per diluted share, non-GAAP operating income of $948,773,000, net cash provided by operating activities of $622,939,000, acquisition of property and equipment, net of $78,666,000 for the same quarter a year ago. Purchased technology and other assets was $6,874,000 against $1,553,000 a year ago.
The company expected cash flow from operations to be at a significantly stronger run rate in the second half of 2015 compared to the second quarter of 2015. Current estimate for 2015 revenue remains within the range of $5.4 billion to $5.7 billion that the company provided in April. The company expected the majority of sequential second half revenue growth to come from mobile embedded products, with a significant portion of this revenue forecasted on the cusp between the third quarter of 2015 and the fourth quarter of 2015. For the third quarter, the company estimated revenue to be in the range of $1.35 billion to $1.45 billion. The company continued to expect non-GAAP gross margin for the second half of 2015 to be in the range of 40% to 43%. Compared to the second quarter of 2015, the company expected the key factors impacting second half gross margin to be an increased mix of mobile embedded sales, which will have a negative impact on gross margin, and a slightly weaker yen to dollar rate coupled with higher sales volume, which will have a positive impact. For the third quarter of 2015, the company expected the yen to dollar rate and cost of sales to be approximately JPY 120. The company expected non-GAAP operating expenses in third quarter of 2015 to be between $335 million and $345 million and continue to expect full year 2015 non-GAAP operating expenses to be approximately or slightly below $1.4 billion. For the second half of 2015, the company expected non-GAAP other income and expense to be approximately breakeven and non-GAAP tax rate to remain at approximately 32%.
SanDisk Corporation Launches SanDisk Extreme 900 Portable SSDs
Jul 9 15
SanDisk Corporation has entered the portable SSD market with a family of drives, including the SanDisk Extreme 900 Portable SSDs, a line of Type C-based portable SSDs; and the SanDisk Extreme 500 Portable SSDs, the company's new pocket-sized, rugged drives. The SanDisk Extreme 900 drives feature speeds of up to nine times faster than a portable hard drive, while the SanDisk Extreme 500 drives offer speeds up to four times faster. These powerful solutions are ideal for photographers, videographers, creative professionals and tech enthusiasts looking to move massive files at phenomenal speeds, helping them save time and simplify work processes at the office or out in the field. The SanDisk Extreme 900 Portable SSDs are all about performance and capacity. Available in up to 1.92TB, the new drives features transfer speeds nine times faster than a portable hard drive, giving users a significant advantage when they are working with 4K video, taking detailed high-res photos or creating large graphics files. With its compact, durable aluminum case, professionals can take the SanDisk Extreme 900 Portable SSD with them wherever they go, allowing them to carry a massive digital portfolio they can access and share in just seconds. With superfast speeds of up to 850MB/s, the SanDisk Extreme 900 Portable SSD dramatically reduces wait times, instantly accelerating user work flow regardless of file size. These new drives come with both USB Type-C and Type-A cables to provide the ultimate flexibility when working between systems. The SanDisk Extreme 500 Portable SSD is less than half the size of smartphone and delivers more than four times the speed of a portable hard drive. The new pocket-sized drive allows users to transfer big videos and photo libraries at up to 415MB/s. Available in up to 480GB capacity, this light-weight yet durable drive is a high-performance solution suitable for anyone looking for a fast, reliable storage on the go. Designed for ultimate portability and durability, the SanDisk Extreme 500 Portable SSDs feature a sleek black finish with unique rubber bumpers, and a metal ring that easily clips into a bag. These new portable SSDs are built to sustain the most rugged environments, featuring both temperature and impact-resistant materials, ideal for many work environments. The new family of SanDisk Extreme Portable SSDs also features SanDisk SecureAccess software with 128-bit encryption to secure files.
SanDisk Corporation Launches Two New USB 3.0 Flash Drives
Jul 9 15
SanDisk Corporation has launched two new USB 3.0 flash drives, the 128GB SanDisk Ultra Fit USB 3.0 Flash Drive and the 256GB SanDisk Ultra USB 3.0 Flash Drive. The new offerings enhance SanDisk's award-winning USB line-up with impressive capacities and performance, delivering speeds up to 10 times faster than a standard USB 2.0 drive. With these higher capacities, consumers can now save more of their favorite videos, photos and music on their laptops, TVs, gaming consoles or other entertainment systems. With remarkable USB 3.0 speed and compact designs, new high-capacity USBs let users enjoy even more of their favorite content without having to even think about running out of space. SanDisk is constantly engaging in new ways to leverage flash memory expertise and deliver innovative, reliable solutions that really make a difference in consumers' daily lives. The award-winning SanDisk Ultra Fit USB 3.0 Flash Drive now comes in capacities up to 128GB, capable of storing up to 16 hours of Full HD video in a package smaller than a dime. Featuring a low-profile, plug-and-stay design, this tiny flash drive delivers impressive capacity combined with high transfer speeds for media enthusiasts who want to expand storage of their notebook, tablet, TV, in-car audio system, gaming console and more. SanDisk doubled the capacity of the SanDisk Ultra Fit USB product within a year from its initial launch of the 64GB capacity, to meet growing consumer demand to keep more content on their systems. The new drive also delivers exceptional performance. The 128GB SanDisk Ultra Fit USB 3.0 Flash Drive provides blazing speeds of up to 130MB/s. This speed allows users to move content up to 10 times faster than with standard USB 2.0 drives1, such as transferring a full-length movie in less 40 seconds. The sleek SanDisk Ultra USB 3.0 Flash Drive, a popular choice for moving massive files quickly, now comes in capacities up to 256GB. SanDisk's first-ever USB offering to achieve 256GB capacity was designed to meet consumers' demand for more digital storage. They can now carry all of their favorite media, including high-resolution photos, MP3s, videos, presentations, and graphic files, in one small, portable device. With transfer speeds of up to 100MB/s, the SanDisk Ultra USB 3.0 Flash Drive reduces the time spent waiting for files to move from the flash drive to the computer. Similar to the SanDisk Ultra Fit 3.0 Flash Drive, it can move large files up to ten times faster than a standard USB 2.0 drive. SanDisk's new USB 3.0 offerings feature a five-year warranty; include SanDisk SecureAccess software to keep private files safe with password protection and 128-bit encryption; and come with a year's subscription to RescuePRO software to recover lost or corrupted files.