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Micron posts Q1 fiscal 2006 results

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

Keywords:Micron Technology? updates?

Micron Technology Inc. announced results for Q1 of fiscal 2006, which ended Dec. 1. For Q1 fiscal 2006, the company earned net income of $63 million (9 cents per diluted share based on 707 million shares) on net sales of $1.36 billion. These quarterly results compare to net income of $43 million (7 cents per diluted share based on 650 million shares) on sales of $1.26 billion for Q4 fiscal 2005.

"Micron's financial results were enhanced by our success in broadening our product portfolio, which significantly reduced the impact of a 15 percent decline in industry PC DRAM average selling prices," said Steven Appleton, Micron's chairman, CEO and president. "Our manufacturing lines also showed strong execution for the quarter. Even as we dedicated additional production capacity to CMOS image sensors, megabit production of semiconductor memory products increased seven percent compared to the fourth quarter."

Despite PC DRAM price pressure in the quarter, said the press release, the company's gross margin remained stable at approximately 23 percent as a result of increasing sales of higher gross margin products, including CMOS image sensors, specialty DRAM and NAND Flash. In addition, Micron's gross margin was enhanced by lower costs achieved through further manufacturing efficiencies.

Net sales of specialty DRAM products (including synchronous and pseudo-static), CMOS image sensors and NAND Flash represented approximately 45 percent of the company's net sales for Q1 fiscal 2006.

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