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From the News Desk
Thursday, 29. June 2006
Micron Posts Q3 Profit from Loss
Memory chip maker Micron Technology Inc. has reported third quarter profit after a loss in the year-ago period. For the quarter the company recorded net income of USD 88.5 million, or 12 cents a share, compared with a year-ago net loss of USD 127.9 million, or 20 cents a share.
Revenue for the quarter ended June 1 rose to USD 1.31 billion from USD 1.05 billion.
Analysts on average had expected the company to earn 9 cents a share, within a range of nil per share to 18 cents per share, on revenue of USD 1.36 billion.
Steven Appleton, Micron’s chairman, CEO and president, commented, "For the first time, as a result of our successful diversification efforts, sales of products other than PC DRAM devices comprised a majority of Micron’s sales."
Micron also said the final purchase price for Lexar Media, which closed earlier this month, is about USD 900 million. The company also said it does not expect its fourth-quarter revenues to be measurably higher due to the Lexar acquisition, because it will not recognize revenue from Lexar products in distribution channels at the June 21 closing date.
In the quarter, the company said that megabit average selling prices for DDR and DDR2 memory products increased about 20 percent.
The company’s gross margin increased from 19 percent in the second quarter to 25 percent in the third quarter due to increases in DRAM pricing and production shifts to higher margin products including CMOS image sensors.
Revenue for the quarter ended June 1 rose to USD 1.31 billion from USD 1.05 billion.
Analysts on average had expected the company to earn 9 cents a share, within a range of nil per share to 18 cents per share, on revenue of USD 1.36 billion.
Steven Appleton, Micron’s chairman, CEO and president, commented, "For the first time, as a result of our successful diversification efforts, sales of products other than PC DRAM devices comprised a majority of Micron’s sales."
Micron also said the final purchase price for Lexar Media, which closed earlier this month, is about USD 900 million. The company also said it does not expect its fourth-quarter revenues to be measurably higher due to the Lexar acquisition, because it will not recognize revenue from Lexar products in distribution channels at the June 21 closing date.
In the quarter, the company said that megabit average selling prices for DDR and DDR2 memory products increased about 20 percent.
The company’s gross margin increased from 19 percent in the second quarter to 25 percent in the third quarter due to increases in DRAM pricing and production shifts to higher margin products including CMOS image sensors.
