Thursday, December 22, 2005

Micron Reports Results, Adds Directors

Boise Idaho-based Micron Technology announced its results yesterday, reporting that it earned $63M on $1.36B in sales for the first quarter of its fiscal 2006, ending December 1st. The results were up from $43M on $1.26B of sales for the fourth quarter fiscal 2005. The company attributed its uptick in earnings to a broader product line, which reduced the impact of a 15 percent decline in PC DRAM selling prices during the quarter. Micron also said that it has appointed two new directors to the company's board. The company appointed Dr. Teruaki Aoki and Robert Switz to its board. Aoki is an advisor to Sony Corporation, and was previously Senior Executive Vice President of Sony and President and COO of Sony Electronics USA. Switz is CEO of ADC Telecommunications.