Micron Posts Increase in Profit, Revenue

From Bloomberg News

Micron Technology Inc. reported a second straight quarterly profit as sales jumped 34% in its fiscal fourth quarter.

Net income in the quarter ended Sept. 2 was $93.5 million, or 14 cents a share, contrasted with a net loss of $123.2 million, or 20 cents, a year earlier, the Boise, Idaho, company said. Sales rose to $1.19 billion from $888.5 million.

Shares of Micron fell 4 cents to $12.10 on the NYSE before the announcement.