US memory-chip maker Micron released its first quarter fiscal 2011 results. It has seen a 24 percent profit decrease year-on-year as folk hesitate to buy PCs.
Overall for the first quarter it had net profits attributable to shareholders of $155 million, or $0.32 per diluted share. Net sales for the fourth quarter of fiscal 2010 were $2.5 billion while overall revenue shot up 29 percent to reach $2.25 billion.
DRAM revenue was down 19 percent from the previous quarter – average selling price also dropped, by 23 percent, but volume increased by five percent. NAND revenue increased following a 20 percent sales volume rise, but there was a 15 percent plunge for average selling prices.
Following the results, displaying deft but not perfect DRAM operations and a promising NAND outlook, Micron shares rose 0.6 percent to $8.33. Micron’s had a tough time of it in 2010, with shares down 22 percent overall.