Micron Q2 Beats on Top Line, Misses on Net Loss
Micron Technology 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.
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