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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (64804)7/18/1999 5:55:00 PM
From: gnuman  Read Replies (2) of 132070
 
MB, a couple of nuggets from MU's 10Q

Per megabit pricing for the Company's semiconductor memory products declined approximately 26% and 39%, respectively, for the third quarter and first nine months of 1999 as compared to the corresponding periods of 1998. Average selling prices per
megabit for the Company's entire line of semiconductor memory products declined 21% comparing the third quarter of 1999 to the second quarter of 1999. Average selling prices for the Company's primary product, the 64 Meg Synchronous DRAM ("SDRAM") declined by 27% in the same period. This deterioration in average selling prices has had an adverse effect on the Company's results of operations. The Company is unable to predict pricing conditions for future periods.

The selling prices for the Company's semiconductor memory products fluctuate significantly with real and perceived changes in the balance of supply and demand for these commodity products. Growth in worldwide supply has outpaced growth in worldwide demand in recent years, resulting in a significant decrease in average selling prices for the Company's semiconductor memory products. The Company's finished goods inventory increased substantially during the third quarter due to the current market oversupply of semiconductor memory products and the expansion of the Company's mix of semiconductor memory product offerings. The semiconductor industry in general, and the DRAM market in particular, has experienced a severe downturn. Per megabit prices declined approximately 60% in 1998 following a 75% decline in 1997 and a 45% decline in 1996 and pricing is down approximately 39% for the first nine months of 1999 as compared to the first nine months of 1998. The Company is unable to predict pricing conditions for future periods. In the event that average selling prices continue to decline at a faster rate than the rate at which the Company is able to decrease per unit manufacturing costs, the Company's operations, cash flows and financial condition would be increasingly adversely affected.

biz.yahoo.com
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