Micron Technology swung to a $939 million profit, or...
Micron Technology swung to a $939 million profit, or 92 cents per share, from a $301 million loss, 37 cents, in Q3 a year ago, it said Monday. Revenue jumped to $2.29 billion from $1.11 billion. The results included $488…
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million in purchase accounting gains related to its acquisition of Swiss memory supplier Numonyx, along with $64 million in selling, general and administrative expenses related to accruals for estimated settlements in an antitrust case and other matters, and a $41 million benefit to cost of goods sold for price adjustments from suppliers of NAND products, Micron said. The Numonyx purchase was completed in Q3. Revenue from sales of DRAM products increased 10 percent in its memory business versus Q2 this year thanks to a 9 percent increase in average selling prices and “a slight increase in unit sales volume,” it said. Revenue from sales of NAND Flash products was about 16 percent greater than Q2 “due to a 21 percent increase in unit sales volume, partially offset by a 4 percent decrease in average selling prices,” it said. Its gross margin on sales of memory products improved from 35 percent in Q2 to 40 percent, mainly thanks to “an overall increase in average selling prices and the benefit for price adjustments from suppliers of NAND products,” it said. An earnings call was scheduled after our deadline.