These results compare to a net loss of $28 million, or minus $0.04 a share, for the second quarter of fiscal 2004 on sales of $991 million. In the previous quarter, Micron (Boise, Ida.) had net income of $155 million, or $0.23 per diluted share, on sales of $1.26 billion.

Megabit sales volume was approximately 36 percent higher for the same comparative periods, but average selling price fell 15 percent. Megabit memory production in the second quarter of fiscal 2005 was approximately 28 percent higher than the immediately preceding quarter.

The company beat Wall Street's expectations, but it still disappointed others. "Consensus is looking for $0.14 EPS on revenue of $1.21 billion," said analyst Doug Freedman of American Technology Research Inc. "Our above-street estimates are looking for $0.18 EPS on revenue of $1.275 billion."

Still, Freedman was bullish about Micron in a report, which was published before the company's results. "We believe that yields and productivity have greatly improved from 4Q04 and 1Q05 to 2Q05," he said.

By: DocMemory
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