Micron Technology Inc sees Q1 revs flat to above Q4 revs
Wednesday December 11 2:48 PM EST
SAN FRANCISCO, Dec 11 (Reuter) - Micron Technology Inc said Wednesday that Wall Street estimates of flat to slightly higher revenues for the company's fiscal first quarter, ended November, compared to the fourth quarter were reasonable.
Speaking to investors at the Montgomery Securities Conference here, Vice President of Corporate Affairs Kipp Bedard said the sequential growth in memory bits shipped, a key measure of volume for the chip maker, was in the 20-25 percent range for the first quarter, above the company's initial projection of bit growth in the low teens.
Micron reported revenues of $700.5 million in the fourth quarter, ended August 31. It expects to report first quarter results next Monday.
The Boise, Idaho-based chip maker declined to project financial results for the first quarter, but Bedard said the company's balance sheet is strong.
"I think people will be surprised by how good our balance sheet looks," he said.
He said it's not unusual to see pricing pressure for Dynamic Random Access Memory (DRAM) chips following the Christmas period.
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