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Thursday, Dec 20
2012, 5:24 PM
More on Micron's FQ1: As expected, DRAM sales were weak, -9% Q/Q due to an 11% ASP drop caused...
More on Micron's FQ1: As expected, DRAM sales were weak, -9% Q/Q due to an 11% ASP drop caused by falling PC DRAM prices. NAND flash memory sales fell 4% Q/Q, as a 9% volume decline offset a 5% increase in ASPs. Gross margin was a mere 12%, up from FQ4's 11% but down from the year-ago period's 15%. Free cash flow was -$302M. Cash/investment balance at end of quarter was $2.8B, long-term debt balance was $3.4B. MU -2.8% AH. (PR)