Data storage firm SanDisk (SNDK:Nasdaq - news - research) said first-quarter earnings and revenue doubled from last year, thanks to a 153% increase in royalty income. The shares sold off after hours, however, as investors sitting on a stock that has risen better than 100% over the last 12 months were hoping for more....
....Traders appeared to be focusing on some potentially troubling margin trends at Sandisk. The company said its price per-megabyte fell 4% in the first quarter compared with the fourth quarter, and fell 19% compared with the year-ago quarter. Total gross margin was 40% of revenue in the quarter compared with 42% in the fourth quarter, while product gross margin was 32% in the first quarter compared with 36% in the fourth quarter....
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