LONDON – Memory chip company Micron made a net loss for its second quarter of fiscal 2013, which ended on Feb. 28, of $286 million on net sales of $2.078 billion. Sales were up sequentially by 13.3 percent from $1.834 billion in the first fiscal quarter and roughly flat with the same quarter from a year before.
In the first quarter of its fiscal year Micron Technology Inc. (Boise, Idaho) made a net loss of $275 million which it attributed, in part, to a manufacturing glitch.
In the second quarter Micron said $120 million was lost on currency hedging related to the planned acquisitions of Elpida Memory Inc. and Rexchip Electronics Corp. In addition the results included a loss of $62 million associated with the expected sale of the company's wafer fabrication facility in Avezzano, Italy, to Lfoundry.
DRAM revenues were up 24 percent compared with the first quarter; resultin from a 38 percent increase in sales volume partially offset by a 10 percent decrease in average selling prices (ASPs), Micron said. NAND flash memory sales were 8 percent higher sequentially and NOR flash memory sales were 14 percent lower than the previous quarter.
Micron ended the quarter with cash reserves of $2.8 billion.