November 22, 1997 in Nation/World

Micron Expects To Post Slim Profit

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Micron Electronics Inc. said it will report a slim profit in its fiscal first quarter, well below Wall Street’s expectations, because sales didn’t meet projections.

Micron said revenue in the quarter ending Nov. 27 is expected to increase about 30 percent from the $421 million in last year’s fiscal first quarter, but only about 10 percent from the $513.1 million it reported last quarter.

That’s lower than the personal computer maker projected and left Micron Electronics with excess inventory of PC components. Falling prices for notebook computers also drove down profit, the company said.

As result, the Nampa, Idaho-based company said it expects net income to be “minimal.”

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