Micron reports $275 million loss in 1Q
BOISE, Idaho (AP) -- Boise-based memory chip maker Micron Technology Inc. has reported a $275 million loss in the company's first quarter -- the sixth straight period of financial losses for the company.
Company executives on Thursday attributed the loss during the first quarter of fiscal 2013 to declining sales volumes and prices. For the period, Micron reported net sales of $1.8 billion, down from $2.0 billion during the previous quarter and $2.1 billion in net sales for the same period a year ago.
The Idaho Statesman reports that sales volume for NAND Flash, the technology used in mobile devices to save photos, dropped 9 percent during the period.
The company also reported that prices for dynamic-random-access-memory, used in personal computers, were down 9 percent from the previous quarter.
Information from: Idaho Statesman, http://www.idahostatesman.com