Idaho’s Micron Reports Profit in Third Quarter
BOISE, Idaho (AP) — Boise-based computer chip maker Micron Technology Inc. reported a third quarter profit thanks to improving market conditions and the acquisition of a foreign competitor.
The company reported it ended the third quarter with $2.3 billion in sales, up from $2.1 billion in sales during the same period a year ago. Micron reported it earned $43 million, or 4 cents per share, for the quarter ending May 30, compared to a loss of $286 million, or 28 cents per share last year.
It’s the first profitable quarter for Micron in two years, and the Idaho Statesman reports the strong third quarter could foreshadow a more enduring turnaround. Boise-based semiconductor analyst Mike Howard says Micron’s purchase of Japanese competitor Elpida Memory Inc. will increase the company’s overall share of the market.