Boise's Micron Technology Inc. said Tuesday that it earned $358 million in profits in its first quarter over the fourth quarter, boosted by a 69 percent increase in sales of dynamic random access memory, one of its main products.
The increase in sales resulted from the company's purchase of Elpida Memory Inc., a Japanese company, last July.
Profits are down from the $1.71 billion reported in the fourth quarter, but up from the $275 million loss the pre-Elpida Micron lost in its first quarter a year ago.
Revenues for the quarter were $4 billion, up 42 percent over the fourth quarter. Revenue from NAND flash memory, Micron's other principal product, was up 8 percent because of an 11 percent increase in sales volume.