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Sensors/MEMS??

Micron reports 3Q loss in the face of growth

Posted: 27 Jun 2005 ?? ?Print Version ?Bookmark and Share

Keywords:cmos image sensor? dram?

Despite cost reductions resulting from the growth in production and manufacturing efficiencies, Micron Technology Inc. has reported a net loss of $128 million, or $0.20 per diluted share, on net sales of $1,054 million for its third quarter of 2005, ending June 2, 2005. The results were compared to net income of $118 million, or $0.17 per diluted share, for the second quarter of 2005.

During the third quarter of this year, the company further enhanced its manufacturing efficiencies, yielding an 8 percent increase in memory production and a 6 percent quarter-over-quarter increase in megabit sales.

Micron's diversification efforts into CMOS image sensors and specialty DRAM products, including pseudo-static, drove significant benefits in the quarter as these products enjoyed considerable growth and maintained attractive gross margins. Despite strength in demand of the products, the company's results were adversely affected by severe declines in average selling prices for commodity DRAM products during the quarter.

Average selling prices for memory products decreased about 30 percent comparing the third quarter of fiscal 2005 to the preceding quarter as excess supply depressed pricing particularly for mainstream PC memory. DDR and DDR2 DRAM continue to be Micron's primary products constituting about 60 percent of net sales in the third quarter of fiscal 2005.

The steep decline in average selling prices also resulted in losses on sales of products purchased from TECH Semiconductor. An estimate of 25 percent of the company's memory production in the first three quarters of 2005 was obtained from the TECH joint venture.

At the end of the third quarter of fiscal 2005, the Company had $1.3 billion in cash and short-term investments.





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