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Micron Reports Losses

Micron Technology Inc. has reported a net loss of $48 million for the second quarter of the fiscal year, with its officers pointing at pricing pressure from Asian competitors as the culprit for falling memory chip revenues.

The Boise-based company on Monday reported the loss, worth 23 cents per share on net sales of $755 million, for the period ended Feb. 26. Operating losses in its semiconductor memory chip and computer system operations were partially offset for the quarter, by 18 cents a share, on the sale of 90 percent of Micron’s contract manufacturing subsidiary.

For the first quarter, net income was $10 million, or 4 cents per share, on net sales of $955 million.

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N. Korea, setting stage for talks, halts nuclear, ICBM tests

UPDATED: 10:03 p.m.

North Korea said Saturday it has suspended nuclear and long-range missile tests and plans to close its nuclear test site ahead of a new round of negotiations with South Korea and the United States. There was no clear indication in the North’s announcement if it would be willing to deal away its arsenal.