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Micron Posts Loss

12/30/2008 09:55:00 AM Eastern

Boise, Idaho– Stung by falling prices, memory maker Micron Technology suffered further losses for its first quarter of fiscal 2009.

The company posted a net loss of $706 million on sales of $1.4 billion. Memory sales decreased 4 percent vs. the preceeding quarter thanks to “significant decreases in market selling prices,” the company said. While sales volumes were up, average selling prices for the firm’s DRAM products dropped 34 percent and declined 24 percent for NAND-based products.

Micron managed to generate $359 million in cash flow and ended the quarter with cash and investments totaling $1 billion.