Memory chip maker Micron Technology (MU) this afternoon reported fiscal Q1 revenue that was about in line with analysts’ expectations, and a much deeper-than-expected net loss.
Revenue in the three months ended December 1st were unchanged from the year-earlier period, at $2.1 billion, yielding a net loss of 19 cents a share.
Analysts had been modeling $2.13 billion and a loss of 7 cents a share.
Gross profit margin was unchanged at 15%, the company said.
NAND flash memory chip sales rose 6% from the prior quarter, the comapny said, lifted by an 18% rise in volume, which balanced out a 10% decline in prices. But revenue from DRAM products was flat with Q4′s level, with a 14% rise in volume cancelled out by a 12% decline in prices.� Those NAND sales helped gross margin overall but that was cancelled out by the deleterious effect of DRAM sales, the company said.
Micron management will host a conference call with Street analysts at 4:30 pm, Eastern time, and you can catch the Webcast here.
Micron shares are down 4 cents, or 0.7%, at $5.49.
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