Micron Reports Loss

Micron Technology Inc., which has been dogged by declining memory chip prices for two years, reported a net loss of $27.7 million, or 10 cents a share, for the fiscal third quarter, compared with a loss of $109.4 million, or 51 cents, a year ago. Analysts were expecting a break-even quarter. Sales climbed 41% to $863.8 million, fueled in part by Micron’s purchase of Texas Instruments Inc.’s memory business in October. Separately, Micron said its majority-owned Micron Communications unit will cease operations in its fourth fiscal quarter, resulting in a pretax charge of $9 million to $12 million.