SanDisk's revenue rises as memory chip prices bounce back Jul 17th 2013, 20:19
Reuters –
(Reuters) - SanDisk Corp reported a 43 percent rise in quarterly revenue as prices of flash memory chips rebounded from last year's lows.
Revenue rose to $1.48 billion (972.85 million pounds) for the second quarter from $1.03 billion a year earlier.
Net income rose to $262 million, or $1.06 per share, from $13 million, or 5 cents per share a year earlier.
Excluding one-time items, earnings were $1.21 per share.
SanDisk's flash memory chips are used to store data such as movies and photos in smartphones, flash drives and tablets.
(Reporting by Neha Alawadhi in Bangalore; Editing by Sriraj Kalluvila)
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