UPDATE: SanDisk Posts Upbeat Q4 Profit

SanDisk

reported a drop in its fourth-quarter profit. SanDisk's quarterly profit declined to $213.54 million, or $0.87 per share, from $281.22 million or $1.14 per share, in the year-ago period. Its adjusted profit came in at $1.05 per share. Its revenue declined to $1.54 billion, from $1.58 billion. However, analysts expected a profit of $0.74 per share on revenue of $1.53 billion. SanDisk shares fell 3.71% to $45.88 in after-hours trading.