Micron Sales Up 6%

Micron Technology announced results for its first quarter of fiscal 2005, which ended December 2, 2004. The company earned operating income of $175 million and net income of $155 million, or $0.23 per diluted share, on net sales of $1,260 million. These quarterly results compare to net income of $94 million, or $0.14 per diluted share, on net sales of $1189 million for the fourth quarter of fiscal 2004.

Net sales for the first quarter of fiscal 2005 were 6% higher than for the fourth quarter of fiscal 2004, primarily reflecting a higher level of megabit shipments of semiconductor memory products.

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