Micron (MU $7.44 -0.99) reported third quarter earnings of $0.07 per
share, $0.10 worse than the Capital IQ Consensus Estimate of $0.17.
Revenues fell 6.5% year/year to $2.14 billion versus the $2.37 billion
consensus.
The company's consolidated gross margin improved to 22 percent for the third
quarter of fiscal 2011 from 19 percent for the second quarter of fiscal 2011 due
primarily to decreases in manufacturing costs. Revenue from sales of DRAM
products was 7 percent lower in the third quarter of fiscal 2011 compared to the
second quarter of fiscal 2011 due to a decrease in sales volume.






