Thursday, December 23, 2004
Amid a cut in capital spending, Micron Technology Inc. posted a net income of $154.9 million, or $0.23 per share, for its first fiscal quarter of 2005, compared to $1.1 million, or almost break-even per share, a year ago.
Sales were $1.26 billion, up from $1.11 billion reported during last year's fiscal first quarter. Thomson First Call expected Micron to report earnings of $0.22 per share on revenue of $1.3 billion for the quarter.
Micron's capital expenditures for fiscal 2005 are estimated at $1.5 billion, almost one third of which was expended in the first quarter of fiscal 2005.
On the operating front, Micron's average selling prices for memory products were sequentially flat in the first quarter. Megabit production slightly outpaced sales volume in the first quarter of fiscal 2005 primarily due to the company's product mix.
In preparation for the unfolding market transition to DDR2 DRAM, Micron dedicated additional wafer production to this higher performance architecture. The company also dedicated wafer production to synchronous DRAM, which has been one of the strongest margin products, but which came under some competitive pressure in the first quarter of fiscal 2005.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
