Micron Technology at a loss
No fun being a DRAM maker right now
Micron Technology, America's only big DRAM maker, beat Wall Street forecasts for its second quarter, posting losses of $4.1 million for continuing operations.
The Idaho-based chipmaker saw a loss of one cent per share for the quarter ended March 1 - beating analysts' expectations of losses by two cents. This compares to a profit of $168.8 million, or 30 cents per share, for the same period last year.
Sales dropped to $1.07 billion from £1.2 billion. Revenue from its semiconductor business was $1.06 billion, with balance coming from Web hosting.
Total losses for the quarter - including those from the discontinuation of the company's PC manufacturing business at subsidiary Micron Electronics - came to $88 million, compared to a profit of $161.3 million a year ago.
Last week Micron Electronics said it would sell its PC manufacturing business and become a Web hoster through the acquisition of Interland. ®