Micron (MU) Slumps as DRAM Cripples Q4 Margins
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Price: $11.31 +2.26%
EPS Growth %: -21.7%
Financial Fact:
Interest income: 3M
Today's EPS Names:
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EPS Growth %: -21.7%
Financial Fact:
Interest income: 3M
Today's EPS Names:
LBIX, ESEA, ISS, More
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Micron Technology (NYSE: MU) shares are trading slightly lower Thursday afternoon following fourth-quarter earnings.
Revenue for Micron fell 14.2 percent from $2.493 billion to $2.140 billion. Consensus was looking for revenue of $2.13 billion.
Micron reported a GAAP loss of 14 cents per share in the quarter, compared to earnings of 32 cents per diluted share in the same period last year. The number may not compare with the Street's estimate calling for earnings of 2 cents per share.
For the most part, Micron suffered from the evil combination of lower revenue and increased costs of goods sold. R&D and SG&A expenses stayed relatively flat quarter over quarter.
Micron did note "revenue from sales of NAND Flash products was 11 percent higher in the fourth quarter of fiscal 2011 compared to the third quarter of fiscal 2011 due to a 40 percent increase in sales volume partially offset by a decrease in average selling prices. Revenue from sales of DRAM products was 12 percent lower in the fourth quarter of fiscal 2011 compared to the third quarter of fiscal 2011 due to the declines in average selling prices partially offset by an increase in sales volume."
Shares of Micron are off 2.7 percent at last check.
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Revenue for Micron fell 14.2 percent from $2.493 billion to $2.140 billion. Consensus was looking for revenue of $2.13 billion.
Micron reported a GAAP loss of 14 cents per share in the quarter, compared to earnings of 32 cents per diluted share in the same period last year. The number may not compare with the Street's estimate calling for earnings of 2 cents per share.
For the most part, Micron suffered from the evil combination of lower revenue and increased costs of goods sold. R&D and SG&A expenses stayed relatively flat quarter over quarter.
Micron did note "revenue from sales of NAND Flash products was 11 percent higher in the fourth quarter of fiscal 2011 compared to the third quarter of fiscal 2011 due to a 40 percent increase in sales volume partially offset by a decrease in average selling prices. Revenue from sales of DRAM products was 12 percent lower in the fourth quarter of fiscal 2011 compared to the third quarter of fiscal 2011 due to the declines in average selling prices partially offset by an increase in sales volume."
Shares of Micron are off 2.7 percent at last check.
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