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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: DavidG who wrote (25382)	12/15/1997 5:15:00 PM
From: TREND1	Respond to of 53903

And the BEEP is here ! 4 cents

To: DavidG who wrote (25382)	12/15/1997 5:15:00 PM
From: DavidG	Read Replies (2) \| Respond to of 53903

Larry, rev = $955Million DavidG

To: DavidG who wrote (25382)	12/15/1997 5:24:00 PM
From: Narotham Reddy	Read Replies (1) \| Respond to of 53903

Micron Tech Reports Earnings for the First Qtr of 1998 MICRON TECHNOLOGY, INC., REPORTS EARNINGS FOR THE FIRST QUARTER OF FISCAL 1998 Consolidated Financial Summary Boise, Idaho, December 15, 1997 -- Micron Technology, Inc., today reported net income for the first quarter of fiscal 1998 ended November 27, 1997, of $10 million, or $0.04 per fully diluted share, on net sales of $955 million. For the fourth quarter of fiscal 1997, net sales were $946 million and net income was $72 million, or $0.33 per fully diluted share. Net income was lower for the first quarter of fiscal 1998 compared to the fourth quarter of fiscal 1997 primarily as a result of severe price declines for semiconductor memory products. For the first quarter of fiscal 1997, net sales were $728 million and net income was $21 million, or $0.10 per fully diluted share. The Company experienced an approximate 25% decrease in average selling price per megabit on semiconductor memory comparing the fourth quarter of fiscal 1997 to the first quarter of fiscal 1998, following a 75% decline for fiscal 1997. Pricing for semiconductor memory products continues to experience downward pressure. The gross margin on semiconductor products declined from 44% in the fourth quarter of fiscal 1997 to 32% in the first quarter of fiscal 1998 as manufacturing efficiencies achieved on the 16 Meg DRAM countered the impact of the first quarter price declines. The Company's ramp of its 16 Meg Synchronous DRAM constrained the increase in semiconductor megabit output in the first quarter of fiscal 1998 to less than 10%. Net sales of the Company's PC systems increased in the first fiscal quarter of 1998, compared to the fourth quarter of 1997; however, the gross margin percentage on PC systems declined as a result of the disposition of PC component inventories and intense price competition. Micron Technology, Inc., and its subsidiaries manufacture and market DRAMs, very fast SRAMs, FLASH, other semiconductor memory components, personal computer systems, complex printed circuit board assemblies, remote intelligent communications (RIC) products and flat panel displays. Micron's common stock is traded on the New York Stock Exchange (NYSE) under the symbol MU