SanDisk cuts first quarter revenue target

The company said it is facing numerous challenges ranging from enterprise demand, pricing and product qualifications.

SanDisk said its first quarter revenue will be below its initial forecast due to product qualification delays, weaker enterprise sales and pricing. SanDisk also it can't forecast results for 2015 at the moment.

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The company said that its sales will be about $1.3 billion. SanDisk had projected sales for the first quarter to be between $1.4 billion and $1.45 billion.

In a statement, SanDisk said it has numerous challenges:

The change in first quarter revenue estimate is primarily due to certain product qualification delays, lower than expected sales of enterprise products and lower pricing in some areas of the business. The Company expects continued impact to its 2015 financial results from these factors as well as the previously identified supply challenges, and now forecasts 2015 revenue to be lower than the previous guidance.

SanDisk said it will provide a better outlook for 2015 in April when it reports earnings. SanDisk also pushed out its investor day.

The flash storage player also had to lower its fourth quarter outlook in January.