UPDATE 1-Memory chipmaker SanDisk's revenue beats expectations
(Adds detail on results)
SAN FRANCISCO, Jan 22 (Reuters) - Memory chipmaker SanDisk posted fourth-quarter revenue above expectations as the adoption of solid-state drives helped boost demand for its chips.
SanDisk, whose flash memory chips are used in smartphones, cameras and other mobile devices, said on Wednesday its fourth-quarter revenue was $1.73 billion, up 12 percent from the year-ago period. Analysts on average had expected fourth-quarter revenue of $1.703 billion, according to Thomson Reuters I/B/E/S.
Net income rose to $338 million, or $1.45 per share, from $214 million, or 87 cents per share, a year earlier. Excluding one-time items, earnings were $1.71 per share.
Shares of SanDisk rose 1.36 percent in extended trade after closing up 0.42 percent at $72.19 on Nasdaq.
(Reporting by Noel Randewich; Editing by Richard Chang)