Shares of SanDisk ( SNDK) soared in after-hours trading Monday as the flash-memory company posted second-quarter results that easily exceeded analysts' projections.

The company earned $95.6 million, or 47 cents a share, up from $70.5 million, or 37 cents a share, in the year-ago quarter. Excluding certain items, such as stock-based compensation expenses, the company earned $117.6 million, or 58 cents a share. Analysts polled by Thomson First Call were looking for earnings of 44 cents a share, before items. SanDisk's revenue increased 40% to $719 million, surpassing analysts' target of $688.5 million. "Mobile cards sold into handsets were the star performer with more than 15 million cards sold in the quarter," CEO Eli Harari said in a statement. "We are optimistic about growth in demand in our target markets in the second half, and with Fab 3 costs steadily declining and our captive capacity ramping, we believe we are well positioned for the anticipated demand upswing in the back half of this year." Shares jumped $7.71, or 19%, to $47.91 after hours.

Netflix ( NFLX) sank after the online movie-rental company beat Wall Street's second-quarter earnings expectations, but offered a soft top line and lower-than-expected guidance. The company earned $16.8 million, or 24 cents a share, for the second quarter, up from $5.7 million, or 9 cents a share, a year ago. Analysts expected earnings of 18 cents a share. Revenue climbed 46% to $239.4 million, below Wall Street's estimate of $242.5 million. Net subscriber additions in the quarter were 303,000 compared to 178,000 for the same period last year. But that was down from the 687,000 net new additions in the first quarter.

Netflix said it expects subscribers to reach between 5.5 million and 5.7 million during the third quarter. Netflix expects to post revenue of $249 million to $254 million, short of the $258 million analyst forecast. Similarly, Netflix expects revenue of $980 million for the year, short of the $1 billion Wall Street target. After hours, shares sank $4.85, or 20%, to $18.91.

NutriSystem ( NTRI) posted better-than-expected second-quarter results and gave a strong guidance, but shares fell after the diet company said its president and operating chief will leave to attend to family health issues. For the second quarter, NutriSystem earned $19.8 million, or 53 cents a share, up from $4.3 million, or 12 cents a share, a year earlier. On an adjusted basis, excluding certain costs, latest quarter earnings were 56 cents a share, a dime better than analysts' average estimate. Revenue more than tripled to $132.6 million, beating the $123 million Wall Street target.

Looking ahead, NutriSystem forecast third-quarter earnings of 47 cents to 50 cents a share and revenue of $135 million to $140 million. Analysts were looking for a 44-cent profit on sales of $120 million. For the year, the company expects earnings of $2.04 to $2.10 a share, with revenue of around $530 million. Wall Street anticipates earnings of $1.87 a share and sales of $502 million.

NutriSystem said George Jankovic will leave effective Tuesday. The company said Thomas Connerty will take over as chief marketing officer and executive vice president of program development. CEO Michael J. Hagan will take Jankovic's president post. The company's Shares fell $9.15, or 13.5%, to $58.65 in late trading.

Encysive Pharmaceuticals ( ENCY) tumbled in late trading after the Food and Drug Administration said one outstanding item remains for the approval of the hypertension drug Thelin. The FDA acknowledged in its approvable letter that the unresolved item is a matter of judgment and expressed an openness to consider new arguments to address this remaining item, Encysive said. The FDA also offered the alternative of conducting additional clinical work. Encysive didn't provide further details on the remaining issue. Shares sank $2.25, or 36%, to $3.93 after hours.

Shares of Zoran ( ZRAN) slumped after the chipmaker reported better-than-expected revenue for its second quarter, but issued a top-line guidance that fell short of Wall Street's consensus. Excluding proceeds from a legal settlement, Zoran posted revenue of $122.3 million for the second quarter, up from $95.1 million a year ago. Analysts expected revenue of $119.8 million. Zoran didn't release earnings figures because it is in the process of reviewing its stock-options practices.

For the third quarter, Zoran expect to post revenue of $130 million to $134 million, short of the First Call estimate of $138.3 million. Revenue growth in the third quarter will be driven "primarily by growth in products serving the DVD and DTV markets," the company said. In the second quarter, 34% of Zoran's revenue came from the DVD market, 31% came from digital cameras, 18% came from digital television, 15% from imaging and 2% from other sources. Shares fell $3, or 15%, to $16.73 after hours.

Atheros Communications ( ATHR) swung to a second-quarter profit, sending shares higher after hours. Atheros posted earnings of $6.8 million, or 12 cents a share, reversing a year-earlier loss of $216,000, or breakeven on a per-share basis. Excluding the effect of stock-based compensation and the tax benefit due to the partial release of deferred tax-asset valuation allowance, the chipmaker earned $9.5 million, or 17 cents a share, compared with year-ago adjusted earnings of $401,000, or a penny per share. Revenue climbed 69% over a year ago to $73.2 million. Shares gained 38 cents, or 2.2%, to $17.50 after hours.