Micron rides memory boom
- Author:Ella Cai
- Release on:2017-03-27
Sharply higher memory prices pushed Micron Technology to calendar Q1 revenues of $4.65 billion for net income of $894 million.
The increase in the company’s revenues of 17% for calendar Q1 compared to calendar Q4 2016 was due primarily to a 21% increase in DRAM ASPs and an 18% increase in NAND sales volumes.
“Strong demand and limited industry supply for NAND and DRAM solutions, combined with significant progress on our cost reduction plan, produced excellent results,” says Mark Durcan, Micron CEO.
Gross margin on the $894 million net income was 36.7% compared to 25.5% gross margin on on net income of $180 million for calendar Q4 2016 and a gross margin of 19.7% on a net loss of $97 million for calendar Q1 2017.
The increase in the company’s revenues of 17% for calendar Q1 compared to calendar Q4 2016 was due primarily to a 21% increase in DRAM ASPs and an 18% increase in NAND sales volumes.
“Strong demand and limited industry supply for NAND and DRAM solutions, combined with significant progress on our cost reduction plan, produced excellent results,” says Mark Durcan, Micron CEO.
Gross margin on the $894 million net income was 36.7% compared to 25.5% gross margin on on net income of $180 million for calendar Q4 2016 and a gross margin of 19.7% on a net loss of $97 million for calendar Q1 2017.
