Micron Technology Has Net Loss of $52 Million in Second Quarter 2007
Micron Technology swung to a loss in its fiscal second quarter, as the company endured plummeting prices and weak demand from cell phone makers. The Boise, Idaho chipmaker said Wednesday it lost $52 million, or 7 cents a share, for the three months ended March 1. A year earlier, the company earned $115 million, or 15 cents a share. The loss was greater than analyst expectations, which had called for Micron to lose one penny a share in the quarter.
Megabit sales of memory products increased approximately 35 percent in the second quarter of fiscal 2007 compared to the first quarter. During the second quarter, the Company increased its production of DRAM and NAND flash memory products by 15 percent and 60 percent, respectively, resulting from improved DRAM manufacturing efficiencies and the ramp of NAND production in Virginia. Memory production slightly outpaced memory sales in the second quarter, leading to a higher level of finished goods inventories. As a result of the higher levels of production, the Company’s per megabit manufacturing costs for DRAM and NAND flash memory products decreased approximately 15 percent and 25 percent, respectively, in the second quarter compared to the first.
Comments are closed.