14 DAY TRIAL // Micron's results for the fourth quarter of its Fiscal Year 2013 were quite encouraging, compared to the rather ambivalent ones of the previous three-month period. Not that it's such a shock after buying Elpida.
You'd think that a large company acquisition like the integration of Elpida, a company that actually surpassed it on its own turf at times, would have hit Micron in terms of money.
Fortunately, that acquisition was completed earlier this year, and the financial repercussions passed in the second and third quarters.
Even in Q3 of Fiscal Year 2013, Micron only lost $243 million / €180 million. A pittance compared to the gains of Q4 FY13.
More precisely, Micron achieved a net income of $1.71 billion in the quarter that ended on August 29. That's €1.26 Billion, give or take.
"Micron is executing well on multiple fronts with the successful integration of Elpida and ongoing steady development of advanced memory solutions, including our hybrid memory cube that began sampling with key customers this quarter and our second generation family of PCIe enterprise SSD's which recently qualified at a major OEM," said Micron CEO Mark Durcan.
"Our product portfolio and systems solutions position us well to compete in the current favorable market environment."
Micron completed the buyout of Elpida on July 31, and it also assimilated Rexchip Electronics Corporation at the same time. The final expenditures were done in August, but even so, the income offset those.
Sales of DRAM led to 50% better revenues on-quarter, and NAND Flash products went up 5%, mostly because, while sales did rise 17%, average prices went down 11%.
Right now, Micron is one of, if not the greatest supplier of DRAM and NAND Flash chips, on the same level as, say, Samsung. Micron still has to pay some Elpida creditors, but that should be handled easily enough.