Micron Earns $365 Million in Q2 of FY 2010

Micron seems to be growing up quite fast now that its DRAM and NAND sales are picking up speed. In fact, instead of suffering further losses, similar to those incurred in the second quarter of Fiscal Year 2009, the company has made quite solid profits during the quarter that ended on March 4 (the second quarter of FY 2010), namely $365 million, showing a completely different financial status and marketing position compared to the same period last year.

$365 million is a significant increase over the $204 million scored in Q1 and a rather colossal jump from the second quarter of FY 2009, when Micron incurred losses of $763 million. The company saw an increase in its DRAM product sales, of 24%, which was able to not only offset the slight decline in NAND Flash memory demand, but also enable a revenue of $1.96 billion (up 13% sequentially).

"Micron positioned itself well during the recession," Steve Appleton, Micron chairman and CEO, said. "The company's results are starting to reflect the combination of an improving market, strong operational performance, advanced technology and a broad product portfolio."

Micron might actually see its NAND business picking up speed as well, now that its C300 RealSSD has been met with a very positive response. The company has recently revealed that it is seeing a very strong demand for this SATA 6.0Gbps SSD line, to the point where it can barely manage to get enough NAND chips for its storage devices. If this situation persists, the memory and storage developer's Flash business may actually start returning a strong profit.

"We began shipping our award winning C300 RealSSD beyond our OEM customer base into our distribution channel during the second quarter. Initial demand for SSD product is very strong, and we are currently on allocation for our channel customers. We sold out on our crucial.com and it is the first SSD we have ever offered online," Micron Vice President of Worldwide Sales Mark Adams stated during a conference call with financial analysts.

Micron's profit and investments, at the end of the March Quarter, amounted to a total of roughly $1.9 billion.