Micron Technology, Inc., Reports Results for the Fourth Quarter and 2009 Fiscal Year

The company’s fiscal 2009 and fiscal 2008 included 53 weeks and 52 weeks, respectively.

(1) The company’s results of operations for fiscal 2009, fiscal 2008 and the fourth quarter of fiscal 2008 include charges of $603 million, $282 million and $205 million, respectively, to write down the carrying value of work in process and finished goods inventories of memory products (both DRAM and NAND Flash) to their estimated market values.

(2) In the second quarter of fiscal 2009, in response to a sustained severe downturn in the semiconductor memory industry and global economic conditions, the company announced that it would phase out all remaining 200mm wafer manufacturing operations at its Boise, Idaho, facility. In the first quarter of fiscal 2009, the company announced a restructuring of its memory operations. As part of the restructure announced in the first quarter, IM Flash Technologies (“IMFT”), a joint venture between the company and Intel Corporation, terminated its agreement with the company to supply NAND Flash memory from the company’s Boise facility, reducing IMFT’s NAND Flash production by approximately 35,000 200mm wafers per month. Resulting from these actions, the company recorded restructure charges of $12 million and $19 million in the fourth and third quarters of fiscal 2009, respectively, and $70 million for fiscal 2009, which was net of a $66 million credit to restructure in the first quarter of fiscal 2009.

(3) In the second quarter of fiscal 2009, in accordance with FASB Statement No. 142, “Goodwill and Other Intangible Assets,” the company performed a test to determine whether its goodwill associated with its Imaging segment was impaired. Based on the results of the test, the company wrote off the $58 million of goodwill associated with its Imaging segment as of March 5, 2009. Additionally, in the second quarter of fiscal 2008, the company wrote off the $463 million of goodwill associated with its Memory segment.

(4) Other operating (income) expense consisted of the following:

  4th Qtr.   3rd Qtr.   4th Qtr.   Year Ended
  Sep. 3,   Jun. 4,   Aug. 28,   Sep. 3,   Aug. 28,
  2009   2009   2008   2009   2008
(Gains) losses on disposals of property,

plant and equipment

















(Gains) losses from changes in

currency exchange rates

  5       28       (8 )     30       25  
Loss (credit) on Aptina spinoff   (12 )     53       --       41       --  
Other   (6 )     (1 )     (1 )     (18 )     (50 )
  $ (14 )   $ 92     $ (5 )   $ 107     $ (91 )

« Previous Page 1 | 2 | 3 | 4  Next Page »

Review Article Be the first to review this article
Featured Video
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
ICScape: At the Junction of Math & CS, EDA & IP
Peggy AycinenaIP Showcase
by Peggy Aycinena
Arm Momentum: Segars embraces exciting times
More Editorial  
REVISED***Director Product Line RF/IC for EDA Careers at San Jose, CA
Senior SW Developer for EDA Careers at San Jose, CA
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, Germany
Upcoming Events
“Empowering Leadership with WIT and WISDOM” at SEMI 673 South Milpitas Blvd. Milpitas CA - Nov 28, 2017
Artificial Intelligence and Convolution Neural Networks Discussion at San Jose State University Student Union Theater San Jose CA - Dec 4, 2017
Silicon Valley's Only Comprehensive Embedded Systems Conference at San Jose Convention Center 150 W. San Carlos St. San Jose CA - Dec 5 - 7, 2017
Oski Technology’s Decoding Formal Club Meeting at The Conference Center San Jose CA - Dec 7, 2017

Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise