SanDisk: A Huge Q2 Miss on Weak Flash Market
SanDisk (SNDK) reported a very ugly second quarter, posting revenue of $816 million and a pro forma loss of 10 cents a share, well short of the Street consensus of $906.8 million and a profit of 13 cents.
The NAND flash memory chip company also said it is delaying the start of the next phase of production ramp at its Fab 4 facility, and now expects to start no sooner than April 2009. The company also is pushing out its decision to invest in Fab 5 until market conditions improve.
