Micron Technology, Inc., (NYSE:MU) posted earnings at -$0.30 EPS on net sales of $1.5 Billion. First Call had estimates at -$0.28 EPS on $1.47 Billion in revenues.
The company generated $217 million in cash flow from operating activities during the third quarter of fiscal 2008 and ended the quarter with $1.6 billion in cash and investments.
The company didn’t offer any fixed outlook in its press release, so all ears that care after a day like today will be on that conference call. As Wall Street had a dismal day, shares are indicated modestly lower after a 7.1% drop to $6.99 in regular trading.
Jon C. Ogg
June 26, 2008
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