Ad
Ad
Ad
Ad
Ad
Ad
Ad
Components | June 21, 2012

Micron continued the losses

For the third quarter (ended May 31, 2012), Micron Technology had a net loss attributable to shareholders of $320 million, on net sales of $2.2 billion.
The results for the third quarter of fiscal 2012 compare to a net loss of $282 million, on net sales of $2.0 billion for the second quarter of fiscal 2012, and net income of $75 million, or $0.07 per diluted share, on net sales of $2.1 billion for the third quarter of fiscal 2011.

Revenues from sales of DRAM products in the third quarter of fiscal 2012 were 20 percent higher due primarily to a 12 percent increase in sales volume and a 7 percent increase in average selling prices compared to the second quarter of fiscal 2012, which included the adverse impact of a $58 million charge to revenue.

Revenues from sales of NAND Flash products were slightly higher in the third quarter of fiscal 2012 compared to the second quarter of fiscal 2012, due primarily to an approximate 40 percent increase in sales volume offset by decreases in average selling prices.

Sales of NOR Flash products were approximately 10 percent of total net sales for the third quarter of fiscal 2012. The company's consolidated gross margin of 11 percent in the third quarter of fiscal 2012 was slightly higher than the second quarter of fiscal 2012. Improvements in margins from sales of DRAM and NOR Flash products were partially offset by declines in margins from sales of NAND Flash products.

Cash flows from operations for the third quarter of fiscal 2012 were $686 million, which included a $300 million customer advance from Intel received in connection with the company's recently announced expansion of its IM Flash activities.

During the third quarter of fiscal 2012, the company raised approximately $875 million in convertible debt financing, net of costs associated with capped call transactions and other costs, and invested approximately $325 million in capital expenditures. The company ended the third quarter with cash and investments of $2.7 billion.
Ad
Ad
Load more news
November 11 2018 12:47 pm V11.8.0-1