NAND flash device controller supplier Phison Electronics has announced net profits increased 13.5% sequentially to NT$1.4 billion (US$45.4 million) for the third quarter of 2018. EPS for the quarter came to NT$7.12.

Phison's consolidated revenues grew 6.8% sequentially to NT$11.04 billion in the third quarter, thanks to growing controller shipments as well as shipments of industrial control modules. Consolidated sales for the first three quarters of 2018 amounted to NT$30.67 billion, down about 2% from a year earlier.

Phison generated net profits of NT$3.52 billion in the first three quarters of 2018, down 21.3% on year. EPS for the nine-month period arrived at NT$17.87.

Phison expects to enjoy stable demand for SSD and eMMC devices in the fourth quarter, while shipments of its device modules for industrial control and consumer electronics applications will also remain stable. The company also has sufficient capital on hand to respond to the recent NAND flash price volatility.