SanDisk's revenue rises as memory chip prices rebound

Reuters

Oct 16 (Reuters) - SanDisk Corp reported a 28percent rise in quarterly revenue, underscoring a strongrecovery in flash memory chip prices from last year's lows.

Revenue rose to $1.63 billion in the third quarter from$1.27 billion a year earlier.

The company's net income rose to $277 million, or $1.18 pershare, from $77 million, or 31 cents per share, a year earlier.

Excluding one-time items, earnings were $1.59 per share.

SanDisk's flash memory chips are used to store data such asmovies and photos in smartphones, flash drives and tablets.

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