Micron Technology Inc. today reported sales for its fiscal Q3, ending June 2 were $1.05 billion, 5.6 percent lower than $1.12 billion in fiscal Q3 2004 and 19.4 percent sequentially lower than $1.31 billion in fiscal Q2.

The Boise, Idaho-based company also reported a net loss of $128 million, or $0.20 per diluted share, compared to net income of $118 million, or $0.17 per diluted share, for fiscal Q2.

During Q3, Micron said it enhanced its manufacturing efficiencies, increasing yield by 8 percent in memory production and 6 percent quarter-over-quarter in megabit sales.

Further, Micron said its diversification efforts into CMOS image sensors and specialty DRAM products, including pseudo-static, “drove significant benefits” in fiscal Q3 as these products enjoyed considerable growth and maintained attractive gross margins, according to a statement by the company.

However, despite cost reductions resulting from production growth and manufacturing efficiencies as well as continuing demand for its products, Micron’s results were adversely affected by declines in average selling prices (ASPs) for commodity DRAM products during fiscal Q3.

ASPs for memory products decreased approximately 30 percent sequentially as excess supply depressed pricing particularly for mainstream PC memory, the company said.

DDR and DDR2 DRAM contributed approximately 60 percent of Micron’s fiscal Q3 sales.

The steep decline in ASPs also resulted in losses on sales of products purchased from Tech Semiconductor. Approximately 25 percent of Micron’s memory production in the first three quarters of the fiscal year was obtained from the Tech joint venture.

By: DocMemory
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