These results compare to a net loss of $158 million, or minus $0.21 per diluted share, on net sales of $1.4 billion for the fourth quarter of fiscal 2007. It reported a profit of $115 million, or $0.15 a share, a year ago.

In the most recent quarter, Micron was projected to lose $0.20 a share on sales of $1.49 billion. During the period, it recorded a $62 million write-down of its finished goods and work in process inventories for memory products.

The company's growth in revenue in the first quarter was primarily driven by significant sales volume increases in memory products.

But average selling prices decreased approximately 20 percent for DRAM and 30 percent for NAND flash memory products compared to the already low prices realized in the fourth quarter of fiscal 2007.

The company had capital expenditures of approximately $885 million during the first quarter and received $150 million in cash contributions from Intel Corp., a partner in the IM Flash joint ventures.

The company estimates capital expenditures aggregating between $2.5 billion and $3 billion for the 2008 fiscal year, of which approximately $500 million is estimated to be funded by contributions from joint venture partners.

By: DocMemory
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