Net profit for its fiscal fourth quarter was $63.5 million, or 8 cents per share, up from $43.1 million, or 7 cents per share, a year earlier.

Excluding special items, Micron was expected to have earned $110.65 million, or 14 cents per share, according to the average analyst forecast on Reuters Estimates.

Micron did not give details of special items but did say that various legal settlements trimmed its gross margin in the quarter by $45 million, or three percentage points, which canceled out stronger margins on its computer memory products.

It also said it recorded an additional $20 million in operating expenses related to its acquisition earlier this year of memory card maker Lexar.

Revenue rose to $1.37 billion, up nearly 9 percent from $1.26 billion a year earlier but shy of the average Wall Street expectation of $1.41 billion.

By: DocMemory
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