FLASH MEMORY MAKER Sandisk has announced negative first quarter results, reporting a seven per cent year-on-year decline in revenues to $1.21bn.
For the quarter ending 1 April, Sandisk's profits fell $167m compared to the fourth quarter of 2011, a decline of 40 per cent.
Sandisk president and CEO Sanjay Mehrotra said, "Our first quarter results were adversely impacted by lower-than-expected pricing and demand weakness in certain segments and we expect similar trends in the second quarter as well."
The flash storage vendor believes a "stronger demand environment" this season along with a more diverse portfolio will help increase sales and deliver stronger revenue growth in the third and fourth quarters. µ