Micron Electronics (MUEI) Message Board

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Technology Stocks : Micron Electronics (MUEI)

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To: Mr. Park who wrote (3760)	3/1/1999 6:20:00 PM
From: J. P.	Read Replies (1) of 4074

WARNING WILL ROBINSON! Micron Electronics Sees Q2 Sales Shortfall NAMPA, Idaho (Reuters) - Personal computer direct marketer Micron Electronics Inc. (Nasdaq:MUEI - news) Monday said it expects fiscal second quarter sales and net income to fall below the first quarter due to slower-than-expected PC sales. In a statement, the company said sales for the fiscal second quarter, ending March 4, should fall between six and nine percent from the first quarter's $403.5 million, which led to net income of $0.12 per diluted share. Micron Electronics said many of its customers are deferring PC purchases in anticipation of Intel Corp. (Nasdaq:INTC - news)'s new Pentium III processor. It also said a seasonal slowdown in government purchases and pricing pressure added to weak sales figures. The company's gross margin for the second fiscal quarter is expected to be roughly the same as the first quarter's 17.1 percent, although the gross margin in its PC sector is seen down one percentage point from the first quarter's 15 percent. Its fiscal second quarter operating should rise $2 million to $3 million from the first quarter due to the company's expanding sales force and for added advertising. Finally, Micron Electronics said its fiscal second quarter results will include a one-time charge of about $4 million for the previously announced closure of its Japanese operations and the consolidation of those activities at its Nampa facility. Micron Electronics is majority owned by semiconductor chipmaker Micron Technology Inc. (NYSE:MU - news) . It plans to announce fiscal second quarter earnings on March 22.

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