Micron Technology reported fourth quarter earnings of $1.20 a diluted share, trouncing Wall Street's estimates for the period, as sales from semiconductor operations skyrocketed to $2.29 billion from $820.9 million in the same period a year ago.
Analysts were expecting the company, a computer memory maker and PC supplier, to earn 96 cents a share for the period, according to
First Call/Thomson Financial
. Net income for the latest period, which totaled $726.7 million, includes a gain of about 4 cents a share from the sale of a facility in Richardson, Texas.
Revenue for the quarter ended Aug. 31 rose to $2.57 billion from $1.08 billion.
Sales from the company's PC operations rose to $295.1 million from $269.6 million in the year-ago period.
previewed Micron's earnings in
a story yesterday.