met Wall Street's expectations for the fiscal first quarter, but lower DRAM pricing led the company to report earnings that fell sharply from the year-ago period.
The computing hardware company earned $2 million, or 2 cents a share, in the latest first quarter, down from $15 million, or 15 cents a share, in the year-ago period. Analysts polled by
First Call/Thomson Financial
expected the company to earn 2 cents a share in the quarter.
Micron Electronics, which is 61%-owned by
, said revenue increased to $404 million in the quarter, up from $353 million in the same period a year ago. Micron Technology also
reported earnings today, but missed analysts' expectations.
Shares of Micron Electronics ended regular session
trading unchanged at $3.31 and remained at that price in after-hours