Micron Tech Q3 Rev Slides 3% From Q2; Shares Close Down

Shares of Micron Technology Inc.

lost nearly 2 percent after the company said fiscal third-quarter revenue dipped 3 percent from the second quarter. The company posted net earnings of $806 million or 68 cents a share, compared with year-earlier earnings of $43 million or 4 cents a share. Net earnings for the recent second period were $731, or 61 cents a share. Revenue grew to $3.98 billion from $2.3 billion a year earlier, but were down from $4.11 billion in the period ended February 2014. Excluding items, earnings were $913 million or 79 cents a share. Analysts expected 70 cents a share. Gross margin of 34 percent was flat with the second period as average prices fell related to product mix, offset by declining manufacturing costs. Micron closed at $31.26, down 1.85 percent; But after hours it changed hands at $31.45 recently, up 0.61 perc