NEW YORK (
shares weakened after Thursday's closing bell after the Boise, Id.-based chip maker posted a surprise quarterly loss on flat sales and declining margins.
The company said it lost $135 million, or 14 cents a share, for the three months ended Sept. 1 on revenue totaling $2.14 billion, down from a year-ago profit of $342 million, or 32 cents a share, on revenue of $2.49 billion. In its fiscal third quarter ended in June, Micron's revenue also totaled $2.14 billion.
The average estimate of analysts polled by
was for a profit of a penny per share in the latest quarter on revenue of $2.11 billion.
The stock was last quoted at $5.73, down 2.4%, on volume of nearly 800,000, according to
Micron also gave a word of warning to investors about the coming jury decision in its antitrust case with
, saying it can't "reasonably" estimate the range of possible losses from the suit.
"An unfavorable outcome could have a material adverse impact on the company's results of operations for the fourth quarter of fiscal 2011," Micron said.
Because of weak DRAM pricing, the company's gross margin dropped to 15% in the quarter from 22%. Micron said revenue from its NAND flash products rose 11% on a sequential basis as a 40% spike in volume offset a decline in average selling prices.
took a hit in late trades after the provider of tech support software and services forecast a wider than anticipated loss for its fiscal third quarter.
The company said it now sees a non-GAAP loss of 10 to 12 cents a share on revenue of between $12.3 million and $12.6 million for the three months ended Sept. 30. The average estimate of two analysts polled by
was for a loss of 6 cents a share in the quarter on revenue of $15.7 million.
Support.com attributed the shortfall to weak retail demand and also said it's amended its deal with
to provide "incremental sales revenue" for Support.com while extending the dates on warrants held by Comcast on Support.com common shares.
Support.com's stock fell 6% to $2.03 on volume of less than 15,000, according to
. The shares are down more than 50% in the past year, and have surrendered more than 70% of their value since hitting a 52-week high of $7.15 on Dec. 15.
Another stock attracting interest in the extended session was
, which tacked on more than 10% after the wireless applications company beat Wall Street expectations with its fiscal second-quarter adjusted profit of $3 million, or 11 cents a share, on revenue of $33.8 million and gave an above-consensus outlook.
Written by Michael Baron in New York.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.