The authority uploaded a video of the medical evacuation, showing a rescuer descending from the chopper while it was suspended mid-air
In a conference call with analysts, SanDisk said it expected third-quarter revenue of $1.15 billion to $1.25 billion, compared with analysts’ forecasts of $1.22 billion, while rising sales of its solid state hard drives should help improve margins by the end of the year.
Shares of SanDisk, whose NAND chips are used in devices such as smartphones and cameras to store data, rose 8 percent to $37.77 in extended trading.
“Looking ahead to the fourth quarter, we expect to benefit from continued sequential growth in sales of our mobile embedded product and SSD’s (solid state hard drives) as well as retail fourth-quarter seasonality,” Chief Financial Officer Judy Bruner said.
SanDisk’s second-quarter gross margins fell to 28.3 percent, from 45.3 percent a year ago. However, it said it expected third-quarter margins to stabilize in the 26-30 percent range before growing in the fourth quarter.
“Even if in September quarter we see margins stabilizing, the company was pretty confident that they see it rising in the final fourth quarter,” RBC Capital Markets analyst Doug Freedman said.
SanDisk earned just $13 million, or 5 cents a share, in the second quarter ended July 1, down from $248 million a year ago. Excluding items it earned 21 cents a share, while revenue fell 25 percent to $1.03 billion.
Analysts had expected a profit of 18 cents a share on $1.02 billion in revenue, according to Thomson Reuters.
“For the third quarter, we are forecasting that our price decline and cost decline will be relatively balanced, allowing gross margins to stabilize,” Bruner said.
Chipmakers like SanDisk, Micron Technology Inc, Elpida Memory Inc, SK Hynix and Samsung Electronics Co Ltd all ramped up their NAND production capacity in a buoyant market for smartphones and tablets, but a glut in supply drove prices to new lows.
NAND prices have fallen as much as 60 percent in the last year, according to chip industry tracker DRAMeXchange. Analysts tracking SanDisk and the NAND market estimate a 35-40 percent drop in NAND prices this year alone.
But in the second quarter, sales through the retail channel rose 28 percent offsetting lower prices of commodity NAND chips sold to original equipment manufacturers.
SanDisk, unlike some of its peers, also gets significant revenue from retail sales. That includes SanDisk-branded pen drives and hard disk drives sold directly to end customers.
The authority uploaded a video of the medical evacuation, showing a rescuer descending from the chopper while it was suspended mid-air
President Sheikh Mohamed expressed his sincere condolences and heartfelt sympathy
The environmental activists glued themselves to a glass case containing the historic Magna Carta document at the British Library
Rival coaches Kewell and Crespo were meeting for the first tine in almost 20 years after facing each other as players in the UEFA Champions League final in Istanbul
Even though the rising talent is currently excelling at work, it was not a career choice her parents initially approved of
Thirty people have been rescued alive, while thirty-eight remained unaccounted for
This was the third time Pant has been fined for maintaining a slow over rate
The auction will take place at Hilton Dubai Al Habtoor City and registration of bidders will begin on Monday, May 13