EmailMicron (MU $5.91 -0.21) reported a third quarter loss of $0.32 per share, $0.12 worse than the Capital IQ Consensus of ($0.20), while revenues rose 1.5% year/year to $2.17 billion versus the $2.01 bln consensus. Revenues from sales of DRAM products in the third quarter of fiscal 2012 were 20% higher due primarily to a 12% increase in sales volume and a 7% increase in average selling prices compared to the second quarter of fiscal 2012, which included the adverse impact of a $58 million charge to revenue.
Revenues from sales of NAND Flash products were slightly higher in the third quarter of fiscal 2012 compared to the second quarter of fiscal 2012, due primarily to an approximate 40% increase in sales volume offset by decreases in average selling prices. Sales of NOR Flash products were approximately 10% of total net sales for the third quarter of fiscal 2012. The company's consolidated gross margin of 11% in the third quarter of fiscal 2012 was slightly higher than the second quarter of fiscal 2012. Improvements in margins from sales of DRAM and NOR Flash products were partially offset by declines in margins from sales of NAND Flash products.
