To: advocatedevil who wrote (44740 ) 3/29/2001 8:58:26 PM From: Proud_Infidel Respond to of 70976 Micron Technology's Results Beat Forecasts SAN FRANCISCO (Reuters) - Chipmaker Micron Technology Inc. (NYSE:MU - news) on Thursday reported second-quarter results that slightly topped analyst forecasts as sales dipped from year-ago levels, reflecting a broad downturn in the semiconductor industry and weak computer demand. For the quarter ended March 1, Boise, Idaho-based Micron Technology said it had a net loss from continuing operations before taxes of $4.1 million, or 1 cent a share, down from a profit of $168.8 million, or 30 cents a diluted share, in the year-ago quarter. The consensus average analyst forecast had been for a loss of 3 cents a share, according to Thomson Financial/First Call. Sales by the biggest U.S. maker of memory chips used in personal computers fell to $1.07 billion from $1.16 billion last year. The company's net loss was $88.3 million, or 15 cents a share, compared with net income of $161.3 million, or 29 cents, a year ago. Last week, the company said its wholly owned subsidiary, PC maker Micron Electronics Inc. (NasdaqNM:MUEI - news) said it would sell its PC business and focus instead on running and managing Web sites for other companies. The PC business had been long-struggling. Other semiconductor and makers of PCs, such as Compaq Computer Corp. (NYSE:CPQ - news), Dell Computer Corp. (NasdaqNM:DELL - news), Intel Corp. (NasdaqNM:INTC - news) and others have slashed sales and profit targets so far this year in the face of a slowing U.S. economy and weak demand for technology. Also, spot prices for dynamic random-access memory chips, or DRAMs, have tumbled more than 25 percent since the beginning of the year and more than 75 percent since hitting a high in July 2000. Micron Technology stock rose $1.00 to $45.25 in trading on the New York Stock Exchange (news - web sites) before results were released. The stock has fallen by a third in the past 12 year.