Micron Reports Stronger Earnings

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.