SAN JOSE, Calif. - Micron Technology Inc. missed Wall Street's estimates for the quarter amid a DRAM downturn.
For the first quarter, the company had net income attributable to Micron shareholders of $155 million, or $0.15 per diluted share, on net sales of $2.3 billion.
The memory company was supposed to earn $0.29 a share on sales of $2.38 billion in the quarter, according to Yahoo. Investment banking firm Raymond James & Associates Inc. this week upgraded SanDisk Corp., but the firm has also lowered its estimates for Micron.
The results for the first quarter of fiscal 2011 compare to net income of $342 million, or $0.32 per diluted share, on net sales of $2.5 billion for the fourth quarter of fiscal 2010, and net income of $204 million, or $0.23 per diluted share, on net sales of $1.7 billion for the first quarter of fiscal 2010.
''Revenue from sales of DRAM products was 19 percent lower in the first quarter of fiscal 2011 compared to the fourth quarter of fiscal 2010 due to a 23 percent decrease in average selling prices partially offset by a 5 percent increase in unit sales volume,'' according to Micron.
''Revenue from sales of NAND flash products was up slightly in the first quarter of fiscal 2011 compared to the fourth quarter of fiscal 2010 due to a 20 percent increase in unit sales volume partially offset by a 15 percent decrease in average selling prices,'' according to the company.
do you have any detail or just a general comment?
yeah, someone might want to buy Micron(not like Qimonda), it get some decent tech in it's pocket.
but overall give ppl a feeling of struggling. score a couple of points then a big fumble.
will those Asian competitors end it's misery sometime soon?
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