SanDisk and Lexar Shares Dive

Oct 23, 2004

SanDisk and Lexar Shares Dive

SanDisk shares took a 32.4% swan dive last week, making it the Infoimaging Index's biggest loser. On Oct. 13 the flash-memory maker reported a big third-quarter earnings miss, with income of 29 cents per share, 5 cents lower than analyst expectations. Additionally, the company's chief executive, Eli Harari, has been selling off millions of dollars worth of the outfit's shares.

I guess the price war begun by SanDisk finally caught up with it.

Lexar Media also had a bad week: Its stock sank 30%, thanks to weaker-than-expected earnings. The company posted a third-quarter loss of 4 cents per share, compared with net income of 12 cents per share a year ago. ... The company disappointed when it said that its operating expenses nearly doubled to $27 million for this quarter, from $15.4 million.

I guess changing the name from Lexar Media to Lexar didn't have the intended effect on profits -- or lack thereof.

Posted at 02:10 AM in General Photography | Permalink

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WorldCAD Access

talking about computers and design by Ralph Grabowski

Oct 23, 2004