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Idaho’s Micron Reports Profit in Third Quarter

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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.

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