SanDisk satisfies in Q2, sales at $1.23 billion

The flash memory maker still posted steep declines compared to a year ago, but results were better than expected.

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SanDisk reported second quarter financial results Wednesday after the bell.

The flash storage maker reported a net income of $81 million, or 38 cents per share (statement).

Non-GAAP earnings were 66 cents per share on revenue of $1.23 billion. For perspective, the report a year ago saw earnings of $1.41 per share and $1.63 billion in revenue.

Wall Street was looking for earnings of 33 cents per share with $1.2 billion in revenue.

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SanDisk president and CEO Sanjay Mehrotra, said in prepared remarks:

During the second quarter, we strengthened our portfolio with several new product launches in both the retail and commercial channels. We are making steady progress on all operational fronts, and remain focused on enhancing our financial performance.

The company also announced a dividend of 30 cents per share.

SanDisk's stock gained more than 7 percent in immediate after-hours trading.