More on Micron's (MU) FQ1: The quarter's 7% Y/Y revenue drop is a little better than FQ4's 14%...

|About: Micron Technology Inc. (MU)|By:, SA News Editor

More on Micron's (MU) FQ1: The quarter's 7% Y/Y revenue drop is a little better than FQ4's 14% drop. However, weak memory pricing led to a gross margin of just 14.6% (major reason for the EPS miss), down from FQ4's 15.7%, and the year-ago period's 23.3%. NAND flash sales rose 6% Q/Q, but DRAM sales were flat in a seasonally strong quarter, thanks to industry weakness. Free cash flow was -$346M. MU now -1.2% AH. (PR)