Micron Technology Settles Lawsuit With Oracle
Under applicable accounting principles, the effect of this settlement on Micron‘s results of operations for the second fiscal quarter of 2012 is a reduction in revenue and an increase in the net loss attributable to Micron shareholders of $58 million as compared to the results previously reported on March 22, 2012, with corresponding adjustments to other items included in the company’s results of operations. As a result, for the second quarter of fiscal 2012, Micron‘s net loss attributable to its shareholders was $282 million, or $0.29 per diluted share, on net sales of $2.009 billion. The full effect of the settlement on Micron’s results of operations and financial position for the second quarter of fiscal 2012 will be provided in Micron's Form 10-Q.
Micron Technology, Inc., is one of the world‘s leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets a full range of DRAM, NAND and NOR flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. Micron’s common stock is traded on the NASDAQ under the MU symbol. To learn more about Micron Technology, Inc., visit www.micron.com.
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This news is a press release provided by Micron Technology.