Net income was $2.4 million, or 3 cents per share, compared with a net loss of $3.52 million, or 4 cents per share, a year earlier. This beat the average 6 cents-per-share loss forecast by seven analysts surveyed by Reuters Estimates.
Revenue rose 15 percent to $189.4 million from $165.2 million.
The shares advanced 1.7 percent in after-hours trade on Inet, after falling 1.4 percent in regular-session trade on Nasdaq.
License and royalty revenue jumped to $4.5 million from $1.2 million a year earlier. The company said it saw "modest" retail price declines in the fourth quarter, driven by tight holiday-season supply of NAND flash chips, which are used to store data such as pictures and songs in portable devices including cell phones, digital cameras and music players.
Lexar, based in Fremont, California, also said it renewed a supply and license agreement with Samsung Electronics Ltd.