SanDisk Provides Business Update

SanDisk Corporation (NASDAQ:SNDK), a global leader in flash memory storage solutions provided preliminary revenue results for its first fiscal quarter 2012 ended April 1, 2012. Due to weaker than expected pricing and demand, the company estimates total revenue to be approximately $1.2 billion, down from the previously forecasted revenue range of $1.30 to $1.35 billion. Total gross margin is also expected to be below the previously guided range of 39% to 42%. SanDisk will release its first-quarter financial results and provide business commentary at its earnings conference call to be held on April 19, 2012.

FORWARD LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about our preliminary revenue and gross margin results for the first quarter of fiscal year 2012. The preliminary financial information provided in this press release is subject to our normal quarter-end accounting review and review by our independent registered public accounting firm. The preliminary financial information is based on our current expectations and is subject to numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate and may harm our business, financial condition and results of operations. Risks that may cause these forward-looking statements to be inaccurate include among others:
  • that our preliminary results could be adjusted or otherwise change after our quarter-end accounting review and the review by our independent registered public accounting firm; and
  • the other risks detailed from time-to-time under the caption “Risk Factors” and elsewhere in our Securities and Exchange Commission filings and reports, including, but not limited to, our Annual Report on Form 10-K for the fiscal year ended January 1, 2012.

All statements made in this press release are made only as of the date set forth at the beginning of this release. We undertake no obligation to update the information in this release in the event facts or circumstances subsequently change after the date of the release.

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