Micron Technology has reported net sales of $1.96bn for the second quarter of 2010, an increase of 96% compared to $993m for the same period last year.
The company posted an operating income of $415m for the second quarter, compared to operating loss of $709m for the same period last year. The company’s gross margin on sales of memory products improved from 27% in the first quarter to 35% in the second quarter due to both an overall increase in average selling prices as well as decreases in manufacturing costs.
For the quarter ended March 4, 2010, net income was $365m, compared to net loss of $763m for the same period last year. Basic earnings per share were $0.39 compared to loss per share of $0.99.
Revenue from sales of DRAM products increased 24% in the second quarter of fiscal 2010 compared to the first quarter of fiscal 2010 due to a 17% increase in unit sales volume and a 7% increase in average selling prices. Revenue from sales of NAND flash products were down slightly in the second quarter compared to the first quarter due to a slight decrease in average selling prices.
Steve Appleton, chairman and CEO of Micron, said: “Micron positioned itself well during the recession. The company’s results are starting to reflect the combination of an improving market, strong operational performance, advanced technology and a broad product portfolio.”
