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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (43806)	3/15/2001 11:01:20 AM
From: Proud_Infidel	Respond to of 70976

SanDisk braces for 45% sequential drop in Q1 revenues Semiconductor Business News (03/15/01 07:38 a.m. PST) SUNNYVALE, Calif. -- SanDisk Corp. here today (March 15) downgraded its outlook for the first quarter, predicting a 45% sequential decline in revenue from $155 million in the fourth quarter of 2000. Previously, the supplier of flash memory products has estimated a 15-to-20% drop in sales this quarter. The sharper shortfall in revenues will push the company's earnings to a "breakeven" point. Prior to today's warning, Wall Street's consensus for SanDisk earnings in the first quarter as at $0.20 per share, according to First Call/Thomson Financial. "Despite the near term challenges and market uncertainty, we are optimistic about our prospects once the current down-cycle comes to an end," said Eli Harari, president and CEO of SanDisk. "The decline in product average selling prices, although having a short-term effect, is the most important catalyst for re-igniting demand for our products in the next up cycle. We are particularly encouraged by the growing momentum for the widespread adoption of the secure digital card in digital consumer electronics, which is expected to begin to contribute to our revenues in the second quarter of this year."