SanDisk first-quarter profit falls

Reuters News
|
Posted: Apr 19, 2012 4:24 PM

(Reuters) - Flash memory-maker SanDisk Corp posted a lower quarterly profit, hurt by falling prices for its products.

Net income for the quarter was $114 million, or 46 cents per share, compared with $224 million, or 92 cents a share, last year.

Revenue fell 7 percent to $1.21 billion.

SanDisk shares closed at $40.47 on Thursday on the Nasdaq.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Sriraj Kalluvila)