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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.

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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.