SanDisk estimates lower fourth quarter revenue, shares fall

Reuters News
Posted: Jan 12, 2015 8:19 AM

(Reuters) - SanDisk Corp 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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(Reporting By Lehar Maan in Bengaluru; Editing by Saumyadeb Chakrabarty)