Micron Q2 Beats on Top Line, Misses on Net Loss

By Eric Volkman – Mar 21, 2013 at 9:19PM

NASDAQ: MU

Micron Technology

Market Cap

$124B

Today's Change

(-0.60%) -$0.68

Current Price

$111.78

Price as of April 24, 2024, 4:00 p.m. ET

The memory maker posts a deeper shortfall than expected.

Micron Technology (MU -0.60%) results are in for its fiscal Q2 2013. For the quarter, net sales amounted to $2.1 billion, up modestly from the $2.0 billion in the same period the previous year. Net loss, however, deepened, to $286 million ($0.28 per diluted share) from Q2 2012's shortfall of $282 million ($0.29).

Analysts had been projecting net sales of of $1.9 billion, and a per-share loss of only $0.20.

Micron pointed out that the quarter were affected by $120 million in charges related to foreign currency hedging activities, as well as a $62 million loss connected with the expected sale of a wafer fabrication facility in Italy.

Fool contributor Eric Volkman has no position in Micron Technology. The Motley Fool has no position in Micron Technology. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.