(Corrects earnings per share excluding one-time items in 4th
By Noel Randewich
SAN FRANCISCO, April 16 SanDisk Corp
posted first-quarter revenue above expectations as its growing
focus on high-end solid-state drives helped offset volatile
prices for memory chips.
Shares of SanDisk rose in after-hours trade on Wednesday
after the company, whose flash memory chips are used in
smartphones, cameras and solid-storage devices, said its
first-quarter revenue was $1.51 billion, up 13 percent from the
year-ago period. Analysts on average expected first-quarter
revenue of $1.49 billion, according to Thomson Reuters I/B/E/S.
Net income in the first quarter rose to $269 million, or
$1.14 per share, from $166 million, or 68 cents per share, a
Excluding one-time items, earnings were $1.44 per share.
Shares of SanDisk were up 1.94 percent in extended trade
after closing up 0.68 percent at $75.85 on Nasdaq.
(Reporting by Noel Randewich; Editing by Steve Orlofsky and