Micron Technology Falls on Q4 EPS Miss

Shares of Micron Technology

are trading lower in the after-hours following the release of the company's Q4 earnings results. Currently, shares are lower by 2.90%, trading at $5.70; they ended the regular session lower by 4.01%, at $5.87. Micron Technology reported Q4 EPS of ($0.14) on revenues of $2.14 billion; the Street was looking for $0.00 per share on revenues of $2.11 billion. Revenues decreased 14.2% year over year. Cash flows from operations for the fourth quarter of fiscal 2011 were $354 million. During the fourth quarter of fiscal 2011, the company invested $928 million in capital expenditures. Micron Technology, Inc. is a manufacturer and marketer of semiconductor devices, principally dynamic random access memory, Nandi Flash memory (NAND Flash and NOR Flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products.