Friday, March 23, 2012

Micron's Sales Slip, Reports Quarterly Loss of $224 Million

Posted By on Fri, Mar 23, 2012 at 8:58 AM

Micron stock remained relatively steady on the NASDAQ exchange Thursday-closing at $8.71 per share-prior to late-afternoon news of a second fiscal quarter drop in sales. Micron's shares were down more than 2 percent in after-hours trading.

The Wall Street Journal reported that "declining prices continued to be an issue for the [Boise-based] chip maker, although executives cited improvements in what has been a shaky DRAM market."

Micron reported a fiscal second-quarter loss of $224 million, or 23 cents a share, compared with a profit of $72 million, or 7 cents a share, for the year-earlier period. Revenue totaled $2.1 billion, down from $2.3 billion.

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