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Micron Ends Year Badly, Reports $706 Million Loss

malware

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#1
Micron Technology today announced results of operations for the company’s first quarter of fiscal 2009, which ended December 4, 2008. For the first quarter of fiscal 2009, the company posted a net loss of $706 million, or $0.91 per diluted share, on net sales of $1.4 billion. These results reflect a non-cash charge to cost of goods sold of $369 million to write down the value of work in process and finished goods inventories of memory products to their estimated market values and a benefit of $157 million from first quarter sales of products that were subject to
previous write-downs. In the first quarter of fiscal 2009, the company generated $359 million in cash flow from operating activities and ended the quarter with cash and investments of $1.0 billion.


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#3
I wonder what the payout for the top three people are per year......
 

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#4
damn, i hope they dont go out of business. otherwise no more of those sweet micron chips.
 
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#5
tHAT SUCKS!!
 

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#6

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#7
I wonder what the payout for the top three people are per year......
I wonder how much THEY spent on this years Christmas party, they might of hired Chris Rock or George Clooney to make a guest appearence for 5mins
 
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#8
I wonder how much THEY spent on this years Christmas party, they might of hired Chris Rock or George Clooney to make a guest appearence for 5mins
Eactly, anytime a large company claims they have lost money, they are either paying too much to the top dogs, or they are wasting it on needles crap.
 

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#9
But on a serious note -

RAM prices have been/are pretty low compared to the prices 2years ago. but its stupid - Competition drove RAM prices down - then it comes to a point where both/all parties are 'selling-at-a-loss' hoping to win the minds of the mass of consumers who will buy so much of their product that it will negitate the loss & bloom into a small/medium margin of profit. the fact that it probably costs them very little to produce a few sticks of RAM doesnt mean anything - Then they whine & bitch about how low prices are or how their not making enough profit because THEY drove the market down to a new 'low' which then became the benchmark for other manufacturers, old & new that wanted to take advantage of that part of the market.
 
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#10
It's not that. It's because low demand, over-supply memory chip.

http://www.marketwatch.com/news/story/memory-chip-makers-still-hurting/story.aspx?guid={CB26B86F-0B5F-4503-A1EA-4575C5CEA71D}
http://www.computing.co.uk/computing/news/2217606/dram-sales-slowing
http://www.electronicsweekly.com/Ar...38/analysis-memory-madness-all-over-again.htm
http://www.mapmodel.com/index.php/2008/05/05/smic-realigns-their-memory-production/
http://www.channeltimes.com/India/News/Memory_Prices_Hit_the_Lowest_Price_Mark/551-94438-1098.html


Micro and alot more company already reported lost in the past years, not just this year.
 
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#11
Wow. They cant charge too much for the chips however I hope things will turn around.
 
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#12
Eactly, anytime a large company claims they have lost money, they are either paying too much to the top dogs, or they are wasting it on needles crap.
Of course, your detailed critique of their business structure, along with some good old left wing ideologies, describes the exact reason for their problems.:rolleyes:
 
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#13
Of course, your detailed critique of their business structure, along with some good old left wing ideologies, describes the exact reason for their problems.:rolleyes:
Not many companies are an exception to his claim. Tech market is a little different, but if you're talking most other things, he's dead on (which is why there's money coming out of everyone's pockets for fat ass automakers).
 

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#14
Not many companies are an exception to his claim. Tech market is a little different, but if you're talking most other things, he's dead on (which is why there's money coming out of everyone's pockets for fat ass automakers).
::Offtopic::

so you'd rather General Motors - a peice of history thats existed since 1900's to be left to rot???
 
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#15
::Offtopic::

so you'd rather General Motors - a peice of history thats existed since 1900's to be left to rot???
Yes.

When a company fails it should fail. All companies exist to make a profit - when they are no longer making a profit they should not exist.


On topic - i wonder if this is a "real" loss - you know accounting for the money that is isn't otherwise accounted for when you pump it into R&D
 
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#16
A large write off of chips they are still selling currently can show a loss.

IE: They have 100 million of inventory left of SDR 133 left on the shelves, they write it off, but still have intention to sell it, they will take the tax liability hit later when they sell it.

Or due to new investments in facilities they took a hit this year instead of spreading it out over a few years, perhaps to beg a billion off the goverment in loans. What they don't tlak about is actual operating capital and working status. We play the same game, we had in November 657K of inventory and turn of 1.5, however the snapshot we used was artificially inflated, so I could say we are at a horrible point, and as of december 5th we had not made money for the month, we were almost 6,000 in the hole.




One snapshot of a business is a horrible way to show health and durability. They are most likely still paying throught the nose to the big wigs and just used this as a way to show the goverment how bad they are doing before they collect end of year payments from other companies.
 
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#17
Sales of CMOS image sensors in the first quarter of fiscal 2009 were relatively stable compared to the preceding quarter.
z0mg! Quarter 1 of 2009 has already happened? I'm really getting behind..
 
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#18
z0mg! Quarter 1 of 2009 has already happened? I'm really getting behind..
Fiscal year is set by the company, ours ends Jan 31st. They do this to skewer the results, such as they did.
 
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#19
ouch i mean the ballistix are junk but wow that is one huge loss.
 

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#20
O no they took a penny out of Bill's bank account:(