Micron Technology has reported net sales of $2.3bn for the first quarter of fiscal 2011, up 35.3% compared to $1.7bn for the same period last year.
The company posted an operating income of $390m for the first quarter, compared to operating income of $201m for the same period last year.
The company’s gross margin rose from $443m in the first quarter of fiscal 2010 to $524m in the first quarter of fiscal 2011.
Net income was $155m for the quarter ended 3 December, 2010, compared to net income of $204m for the same period last year.
Basic earnings per share were $0.16 compared to $0.24 per share for the same quarter last year.
For the quarter, revenues from sales of DRAM products decreased 19% compared to fourth quarter of fiscal 2010, due to 23% increase in average selling prices partially offset by a 5% increase in unit sales volume.
Revenues from sales of NAND flash products were slightly up compared to prior quarter due to 20% increase in unit sales volume and 15% decrease in average selling price.