Thursday, January 31, 2013

Micron FY Q4 Revs, Profits Fall Short Of Street Estimates

Micron Technology (MU) this afternoon reported sales for its fiscal fourth quarter ended September 2 of $2.49 billion, up from $2.28 billion in the previous quarter, and $1.3 billion a year ago, but below the Street consensus at $2.66 billion. Profits of 32 cents a share were well shy of the consensus at 39 cents.

The company noted that DRAM revenue was down 14% from Q3, due to a 12% drop in units and a slight decrease in ASPs. NAND flash revenue was down 9% sequentially on a 7% drop in units and a slight decrease in ASPs.

Nonetheless, MU in late trading is up 10 cents, or 1.4%, to $7.21.

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