This compares to a net loss of $225 million, or minus $0.29 per diluted share, on net sales of $1.3 billion for the third quarter. In the like period a year ago, Micron posted a profit $64 million, or $0.08 a share, on sales of $1.4 billion.

Wall Street expected a loss of $0.22 on sales of $1.4 billion.

For the 2007 fiscal year, the company incurred a net loss of $320 million, or minus $0.42 per diluted share, on net sales of $5.7 billion. This compares to net income of $408 million, or $0.57 per diluted share, on net sales of $5.3 billion for the prior fiscal year.

The company recorded a restructuring charge in the fourth quarter of $19 million comprised primarily of employee severance and related costs resulting from a reduction in the company's workforce in the quarter. The workforce reductions were announced in recent times.

The results for the fourth quarter include a charge of $20 million to write down the carrying value of work in process and finished goods inventories of memory products to their estimated fair market values.

The company continues to pursue opportunities to lower its overhead costs through the utilization of partnerships and other outside relationships. Micron (Boise, Ida.) is reportedly looking to spin-off its CMOS image sensor business.

The company blamed the results on depressed average selling prices (ASPs) for memory products. Compared to the prior quarter, fourth quarter megabit sales increased approximately 25 percent and 60 percent for DRAM and NAND flash memory products, respectively. ASPs for both DRAM and NAND flash memory products decreased approximately 15 percent.

The company had capital expenditures of approximately $850 million and $4 billion, including expenditures by our joint ventures during the fourth quarter and 2007 fiscal year, respectively.

By: DocMemory
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