Micron profits surge as sales creep upward

Statesman staffApril 3, 2014 

Micron Technology Inc.'s profits in its latest quarter more than doubled from the previous quarter, the company said Thursday.

The Boise memory-chip maker said net income rose to $731 million, or 61 cents per share, in the quarter that ended Feb. 27. That compares with $358 million, or 30 cents a share, in the previous quarter and a loss of $286 million, or 28 cents a share, in the comparable quarter a year ago.

Revenues were $4.1 billion, up 2 percent from the prior quarter and up 98 percent from the comparable quarter of last year, before Micron absorbed Japan's Elpida Memory Inc.

The company attributed higher revenues in part to sales of certain NAND flash memory products. Their average selling prices fell 18 percent but sales rose 35 percent.

Revenues from sales of dynamic random-access memory were essentially unchanged from the previous quarter.

The company ended the quarter with a stockpile of more than $5 billion in cash and marketable investments.

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