Micron Technology Profits Plummet

Wed., Dec. 18, 1996

Micron Technology Inc. reported the slightest fraction of the first-quarter profits it enjoyed last year, although it is breaking even because of cutting costs.

The Boise-based electronics company announced profits for the quarter ended Nov. 28, of $20.6 million, or 10 cents per share, on net sales of $728.1 million.

For the first quarter of fiscal 1996, profits were $328.5 million, or $1.51 per share on net sales of $1.18 billion. In the fourth quarter of 1996, which ended Aug. 29, Micron pulled in a $19 million profit, down from $58 million in the third quarter.

Micron spokeswoman Amy Kleiner said the declines resulted from significantly lower prices for its dynamic random access memory chips.

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Micron Technology Profits Plummet

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