Micron Technology sales surge by 91%

Company announces net sales of $2.5bn for the fourth quarter of 2010.

Micron Technology has reported net sales of $2.5bn for the fourth quarter of 2010, an increase of 91.5% compared to $1.3bn for the same quarter in 2009.

The company has posted operating income of $433m for the quarter as compared to loss of $49m for the same period last year.

Micron's gross margin was $781m for the quarter compared to $169m for the same quarter prior year.

For the quarter ended 02 September 2010, the company has posted net income of $342m, or $0.32 per share, as compared to loss of $100m, or $0.92 per share, for the same period last year.

Micron chairman and CEO Steve Appleton said, the company has reached several new company milestones in fiscal 2010, including generating the highest annual revenue, income and operating cash flows.