Thursday, October 7, 2010

Micron Has First Annual Profit in Four Years

Posted By on Thu, Oct 7, 2010 at 4:41 PM

Less than two years ago, Micron shuttered one of its memory chip fabrication facilities, pink-slipping 2,000 employees. A year ago, Micron reported a $100 million loss. That was then.

Late Thursday, Micron officials said they were closing the books on fiscal 2010 with a fourth-quarter net income of $342 million, rounding out its first annual profit in four years. Every quarter for the 2010 fiscal year reported a profit. The company ends the fiscal year with cash and investments of $2.9 billion.

At the end of business, Micron stock closed up to $7.11 a share. In late 2008, Micron stock traded at $1.87 a share.

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