Earnings Roundup: SNDK, CTXS, RMBS, SYNA
Thursday, October 21, 2021 8:51 PM

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SanDisk Corp. (NASDAQ: SNDK) on Thursday said that its third-quarter net income jumped 39%, helped by continued strength in its OEM and retail businesses. Net income rose to $322.1 million, or $1.34, from $231.3 million, or 99 cents a share, in the year-ago quarter.  On an adjusted basis, the company earned $1.30 a share in the latest quarter. Revenue increased 32% to $1.23 billion from $935.2 million. Analysts, on average, expected the company to report earnings of $1.05 per share on revenue of $1.24 billion.

Citrix Systems, Inc. (NASDAQ: CTXS) reported Thursday that its third quarter net income surged to $88 million, or 46 cents per share, from $53 million, or 29 cents per share, in the prior-year quarter. On an adjusted basis, the company earned 62 cents per share. Revenues climbed 18% to $472 million from $401 million. Analysts, on average, expected the company to report earnings of 49 cents per share on revenue of $458.43 million. Looking ahead to the fourth quarter, the company expects GAAP earnings in the range of 47 cents to 49 cents per share. Non-GAAP diluted earnings per share is expected to be in the range of 59 cents to 60 cents per share while net revenue is expected to be in the range of $500 million to $510 million. Analysts currently expect the company to report earnings of 59 cents per share on revenues of $499.12 million. For fiscal year 2011, the company expects net revenues in the range of $2.04 billion to $2.07 billion. Analysts currenty expect the company to report fiscal 2011 revenues of $2.03 billion.

Rambus Inc. (NASDAQ: RMBS) late Thursday reported that its third-quarter net loss narrowed to $20.6 million, or 18 cents per share, from a loss of $27.5 million, or 26 cents per share, in the year-earlier quarter. Revenue rose 14% to $31.7 million from $27.9 million.Analysts, on average, expected the company to post a loss of 21 cent a share on revenue of $34.10 million. 

Synaptics Inc. (NASDAQ: SYNA) said that its fiscal first-quarter net income surged to $18.70 million, or 52 cents per share, from $9.80 million, or 27 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 67 cents per share in the latest quarter. Revenue rose 28% to $153.19 million from $119.59 million. Analysts, on average, expected the company to report earnings of 65 cents per share on revenue of $152.72 million. Looking ahead to the second quarter, the company expects revenue in the range of $154 million to $162 million, representing an increase of 16% to 22% over the comparable quarter last year. Analysts currently expect the company to report fourth quarter revenue of $157.25 million.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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Market news:

  • Saudi forces arrest 149 al-Qaida suspects Nov 26, 2021 10:57 AM

    • RIYADH, Saudi Arabia - Saudi authorities said Friday they arrested 149 al-Qaida suspects in a months-long sweep and thwarted attacks inside the kingdom on government officials, media personalities and civilian targets.
    • Saudi Arabia's anti-terror campaign has largely crushed al-Qaida's operations in the kingdom since a series of attacks there that began in 2003.
    • Some key militants, however, fled across the southern border to Yemen, where the regional al-Qaida branch has re-established a stronghold from which to plot attacks on Saudi Arabia and beyond.
      • Russia opens key plant to destroy chemical weapons Nov 26, 2021 10:49 AM

        • POCHEP, Russia - Russia will miss a 2012 deadline for destroying all of its chemical weapons, officials said Friday as they inaugurated a major new plant to dispose of them.
        • Pochep will process nearly 19 percent of Russia's stockpile, or 7,500 tons of nerve agent used in aircraft-delivered munitions.
        • The plant, hidden in a dense birch forest, is key for Russia's commitment to destroy all of its chemical weapons by April 2012 as Russia deals with its vast arsenal of weapons of mass destruction.
          • Pakistan foils capital bomb plot; missiles kill 3 Nov 26, 2021 09:58 AM

            • ISLAMABAD - Police arrested two would-be suicide bombers planning to attack a mosque and a government building in Pakistan's capital Friday, as local officials said another suspected U.S. missile strike near the Afghan border killed three alleged insurgents.
            • The military has responded by launching offensives in the remote northwest where the insurgents are based, and the U.S. has increased its barrage of missile attacks on those strongholds out of reach of the Pakistani army.
            • Police officer Bin Yamin said the detained men were linked to the Pakistani Taliban in the South Waziristan region, where the army has been fighting the militants since last year.
              • NKorea warns region is on brink of war Nov 26, 2021 09:15 AM

                • YEONPYEONG ISLAND, South Korea - North Korea warned Friday that U.S.-South Korean plans for military maneuvers put the peninsula on the brink of war, and appeared to launch its own artillery drills within sight of an island it showered with a deadly barrage this week.
                • The fresh artillery blasts were especially defiant because they came as the U.S. commander in South Korea, Gen. Walter Sharp, toured the South Korean island to survey damage from Tuesday's hail of North Korean artillery fire that killed four people.
                • None of the latest rounds hit the South's territory, and U.S. military officials said Sharp did not even hear the concussions, though residents on other parts of the island panicked and ran back to the air raid shelters where they huddled earlier in the week as white smoke rose from North Korean territory.
                  • Another US missile strike kills 3 in Pakistan Nov 26, 2021 08:56 AM

                    • MIR ALI, Pakistan - Pakistani intelligence officials say a suspected U.S. missile strike has killed three alleged militants in the country's northwest.
                    • It's the latest in a barrage of attacks by unmanned drones on the stronghold of Taliban fighters targeting American and NATO forces in Afghanistan.
                    • The area is home to a mix of Afghan and Pakistani Taliban.

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