Micron Technology has announced net profits of US$1.85 billion for its fiscal year ended September 2, 2010, making a turnaround after three straight years of losses.

"We reached several new company milestones in fiscal 2010, including generating the highest annual revenue, income and operating cash flows in Micron's history. We have emerged from the difficult economic conditions over the past few years as an industry leader with one of the strongest balance sheets and product portfolios in the business," said company chairman and CEO Steve Appleton in a statement.

Micron collected US$2.49 billion in revenues in the fourth quarter of fiscal 2010, representing a 91.5% jump compared to the US$1.3 billion registered a year ago. Revenues for all of the year amounted to US$8.48 billion, rising 76.6% from fiscal 2009.

Micron generated net profits of US$342 million in the fourth quarter of its fiscal 2010, down from the US$939 million posted in the prior quarter. On an annual basis, it swung to the profits from losses of US$100 million in the fourth quarter of its fiscal 2009.

Micron revealed that revenues generated from sales of DRAM products slid 14% sequentially in the fourth quarter of fiscal 2010, due to a 12% decline in unit sales volume and a slight decrease in ASPs. Meanwhile, revenues from sales of NAND flash products went down 9% on quarter in fiscal fourth-quarter 2010, affected by a 7% drop in unit sales volume and also a slight decrease in ASPs.

As a result of falling ASPs, Micron said its gross margin for the memory business slipped to 37% in the fourth quarter of fiscal 2010 from 40% in the prior quarter.

Micron's memory division excludes Numonyx and other non-reportable segments.

By: DocMemory
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