Micron Technology Q1 results
Reuters Story - December 15, 1997 17:13
BOISE, Idaho, Dec. 15 (Reuter) -
(Amounts in millions except per share data)
1ST QTR ENDED 4TH QTR ENDED
Nov. 27, Nov. 28, Aug. 28,
1997 1996 1997
SELECTED RESULTS
OF OPERATIONS
Net sales:(1)
Semiconductor memory products $440.1 $342.2 $483.7
Personal computer systems 445.1 333.8 372.5
Other 69.4 52.1 90.0
Total net sales 954.6 728.1 946.2
Costs and expenses:
Cost of goods sold 744.1 572.9 658.8
Selling, general and
administrative 129.1 75.8 100.9
Research and development 63.9 47.2 62.3
Total costs and expenses 937.1 695.9 822.0
Operating income 17.5 32.2 124.2
Gain on sale of investments
and subsidiary stock, net(2) 0.1 9.2 1.5
Interest income (expense), net (1.3) (2.1) 3.3
Income before income taxes
and minority interests 16.3 39.3 129.0
Income tax provision 6.5 15.6 52.7
Minority interests in net income 0.2 3.1 4.2
Net income 9.6 20.6 72.1
Earnings per share
Primary 0.04 0.10 0.33
Fully diluted 0.04 0.10 0.33
Number of shares used in
per share calculations
Primary 215.9 214.0 218.9
Fully diluted 215.9 214.5 219.1
1) The value of the Company's semiconductor memory products included
in PC systems and other products is included under "Semiconductor memory
products." "Other" includes revenue from contract manufacturing and module assembly services, construction management services, government research and development contracts, and licensing fees.
(2) Net gains on sale of investments and subsidiary stock for the first quarter of 1997 includes a pretax gain of $10 million from the sale of an investment. |
