<font color=green>Not bad......AMD's newest customer begins a turnaround of its own. Pls note revenues up 50%; if that continues this quarter, that's a nice bundle of Athlons......GO MUEI!!!
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Micron Electronics Profit Tops Expectations
NEW YORK (Reuters) - Computer hardware maker Micron Electronics Inc. (MUEI.O) on Tuesday reported fiscal fourth-quarter profit that jumped 64 percent, far surpassing analysts' expectations, as revenue rose by 50 percent.
Nampa, Idaho-based Micron said its net income for the quarter ended Aug. 31 was $23 million, or 24 cents per diluted share, compared with $14 million, or 14 cents, in the year-earlier quarter.
Analysts on average estimated earnings per share of 9 cents, according to research firm First Call/Thomson Financial.
Micron reported that fourth-quarter revenue increased to $500 million from $333 million for the year-earlier period. Personal computer systems revenue increased 15 percent from the third quarter, and 5 percent from the year-ago quarter.
Micron's direct retail business, VelocityNet Direct, posted an 83 percent increase in sales over the third quarter. ''Through successfully restructuring our business, including the expansion of VelocityNet Direct, PC sales are growing again,'' Joel Kocher, Micron Electronics chairman and chief executive officer, said in a statement.
Excluding charges, Micron's net income for the year rose to $48 million, or 50 cents per diluted share, from $37 million, or 38 cents per share, in the prior year. Net income, including charges, was $42 million, or 43 cents per share.
The First Call consensus estimate, which typically excludes special charges, was 35 cents per share.
Micron's net sales for 2000 were $1.556 billion, compared with $1.438 billion in 1999.
Micron shares were down 3/16, or about 1.5 percent, at $12-3/16 on Nasdaq. The stock has a 52-week range of $8-3/16 to $20-11/16.
11:16 09-26-00 |
