NAND saves Micron in fiscal 2011 earnings report

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. 

In terms of what’s next, Micron wants to push its enterprise and tablet optimised ClearNAND. It is expected to finally go ahead with a joint Intel venture in Singapore in the second quarter of 2011.