Micron Tech 1Q 2013 Misses Estimates

Micron Technology announced its 1Q 2013 results today in an official statement. It made $1.8 billion in net revenues, and had a bottom line loss of $275 million ($0.27 per diluted share). Those numbers for the same period last year were $2.1 billion, and $187 million (-$0.19 EPS).

Analysts had been expecting net sales of just over $2 billion and a loss of $0.20 per share for the quarter.

The company said it saw declines in revenues for its NAND and DRAM products, which fell 4% and 9%, respectively, over the previous quarter.

Micron Technology's shares were down approximately 3% in after-hours trading following the release of the results.

The article Micron Tech 1Q 2013 Misses Estimates originally appeared on Fool.com.

Eric Volkman has no positions in Micron Technology. The Motley Fool has no positions in Micron Technology. Try any of our Foolish newsletter services free for 30 days. 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.

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