Bookmark and Share


Micron Technology – one of the world’s largest memory companies – reported its results for the first quarter of its fiscal 2004. Following Infineon Technology and some other producers, this influential DRAM manufacturer reported $25 million profit, indicating an important rebound of random access memory industry.

Boise, Idaho-based Micron declared $1.1 billion revenue with operating income of $22 million and net income of $1 million for the first quarter of fiscal 2004. These results compare to a $316 million net loss on sales of $685 million for the first quarter of fiscal 2003 and a $123 million net loss on sales of $889 million for the fourth quarter of fiscal 2003.

The company’s sales were 25% higher in the first quarter of fiscal 2004 as compared to the immediately preceding quarter as a result of an approximate 15% increase in megabits sold and a 7% increase in average megabit selling prices.

“We are pleased with the improvements in gross margin accomplished over successive quarters. The first quarter gross margin of 26% is, in part, a result of worldwide cost reduction efforts, gains in manufacturing efficiencies and our leadership in process technology. Our advanced 6f2 products, which have a smaller die size using the same process technology as standard 8f2 products, are ramping effectively and our manufacturing migration to 110nm process technology leads the industry. We are also pleased with the market leadership performance of our next generation products; we are the only company currently shipping all densities of DDR-II DRAM and our 2 and 3Mpixel CMOS image sensor products are “best-in-class” in performance and image quality,” said Steve Appleton, Micron’s CEO and President.

The company’s megabit production of memory products increased approximately 10% in the first quarter of fiscal 2004 as compared to the immediately preceding quarter. The megabit production gains were principally due to improved manufacturing yields and transitions to 0.11 micron devices. At the end of the first quarter of fiscal 2004, finished goods inventories were at historically low levels relative to the sales volume for the quarter.

The firm's operating income for the first quarter of fiscal 2004 includes losses of $25 million from changes in currency exchange rates as a result of a weaker dollar, and a $21 million benefit primarily from sales of equipment associated with the company’s restructure activities in fiscal 2003. The generally higher sales prices for equipment were reflective of improved market conditions across the semiconductor industry, according to Micron.


Comments currently: 1
Discussion started: 12/26/03 11:39:12 AM
Latest comment: 12/26/03 11:39:12 AM

Add your Comment

Related news

Latest News

Monday, April 14, 2014

8:23 am | Microsoft Vows to Release Xbox 360 Emulator for Xbox One. Microsoft Xbox One May Gain Compatibility with Xbox 360 Games

Tuesday, April 1, 2014

10:39 am | Microsoft Reveals Kinect for Windows v2 Hardware. Launch of New Kinect for Windows Approaches

Tuesday, March 25, 2014

1:57 pm | Facebook to Acquire Virtual Reality Pioneer, Oculus VR. Facebook Considers Virtual Reality as Next-Gen Social Platform

1:35 pm | Intel Acquires Maker of Wearable Computing Devices. Basis Science Becomes Fully-Owned Subsidiary of Intel

Monday, March 24, 2014

10:53 pm | Global UHD TV Shipments Total 1.6 Million Units in 2013 – Analysts. China Ahead of the Whole World with 4K TV Adoption

10:40 pm | Crytek to Adopt AMD Mantle Mantle API for CryEngine. Leading Game Developer Adopts AMD Mantle

9:08 pm | Microsoft Unleashes DirectX 12: One API for PCs, Mobile Gadgets and Xbox One. Microsoft Promises Increased Performance, New Features with DirectX 12

3:33 pm | PowerVR Wizard: Imagination Reveals World’s First Ray-Tracing GPU IP for Mobile Devices. Imagination Technologies Brings Ray-Tracing, Hybrid Rendering Modes to Smartphones and Tablets

2:00 pm | Nokia Now Expects to Close Deal with Microsoft in Q2. Sale of Nokia’s Division to Close Next Month