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December 31, 2008

Micron Technology Q1 net loss widens

Micron Technology, a manufacturer of semiconductor devices, has reported a net loss of $706 million, or $0.91 per diluted share, for the first quarter ended December 2008, compared to net loss of $262 million, or $0.34 per diluted share, for the same period in 2007.

By CBR Staff Writer

In the first quarter of fiscal 2009, the company generated $359 million in cash flow from operating activities and ended the quarter with cash and investments of $1 billion.

The company has reported net sales of $1.4 billion for the first quarter of 2008, compared with net sales of $1.5 billion for the same period in 2007.

Sales of the company’s memory products in the first quarter of fiscal 2009 decreased 4% compared to the preceding quarter as a result of decreases in market selling prices for the company’s products, partially offset by a higher sales volume.

The company’s sales measured in gigabits increased 35% and 40% for DRAM and NAND flash products, respectively. Average selling prices for the company’s memory products decreased 34% and 24% for DRAM and NAND flash products, respectively.

Micron manufactures and markets DRAM, NAND flash memory, CMOS image sensors, other semiconductor components, and memory modules for use in computing, consumer, networking and mobile products.

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