Arrow-right Camera


Micron Reports Stronger Earnings

Fri., March 17, 1995, midnight

Micron Technology Inc. credited increased production and continued strong demand for its most popular computer memory chip for record second-quarter earnings of $183.5 million, more than double a year earlier.

The Boise-based semiconductor manufacturing company said Thursday that second-quarter earnings of $1.71 per share boosted its net income for the first half of fiscal 1995 to $342.8 million, or $3.21 per share, on sales of more than $1.16 billion.

Second-quarter earnings in 1994 were $86.8 million, or 83 cents per share, and first-quarter 1995 earnings were $159.3 million, or $1.51 per share. Earnings for the first half of fiscal 1994 were $154.3 million, or $1.48 per share, on sales of $710.6 million.

The total 1994 profit of $400.4 million was the biggest in Micron history, but its second-quarter earnings put the company on pace for a profit of more than $685 million this year.

Sales for the second quarter, which ended March 2, amounted to $628.5 million, compared with $390.5 million during the second quarter last year.

Click here to comment on this story »