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MICRON TECHNOLOGY INC. REPORTS SECOND-QUARTER 1993 RESULTS

 BOISE, Idaho, March 26 /PRNewswire/ -- Micron Technology Inc. (NYSE: MU) today reported net sales for the second fiscal quarter, ended March 4, 1993, were $176.4 million, compared to net sales of $128.2 million for the same quarter a year ago. Net sales for the six months ended March 4, 1993, totaled $307.4 million, compared to $240.0 million for the six months ended March 5, 1992.
 Net income was $9.0 million, or 22 cents per share, for the second fiscal quarter of 1993, and $11.7 million, or 29 cents per share, for the six months ended March 4, 1993. For the second fiscal quarter a year ago, Micron reported net income of $1.5 million, or 4 cents per share, and for the first six months of fiscal 1992, reported net income of $2.1 million, or 5 cents per share.
 Net sales increased in the second quarter and for the first six months of 1993 principally due to the net effect of higher volumes of semiconductor memory sold and slightly lower average selling prices. Substantial completion of the transition to the Ministack(TM) version of the 4 Meg DRAM and improved manufacturing yields resulted in significant volume increases in the second quarter of 1993.
 Net income for both the second quarter and the first six months of 1993 rose principally as a result of the continued reductions in cost per unit sold. The cost reductions were realized primarily from die shrinks and yield improvements which increased the volume of semiconductor memory sold without commensurate increases in fixed costs. Average selling prices for DRAM products increased from the first quarter to the second quarter of fiscal 1993.
 Despite the improved financial results described above, the company continues to face volatility due to such factors as technological advances by competitors, cyclical supply and demand conditions in our commodity markets, risks associated with intellectual property claims of others, manufacturing yield fluctuations, high capital spending requirements, governments actions on tariffs or dumping, and difficulties doing business in foreign markets and against foreign competitors.
 Micron Technology Inc., based in Boise, is a holding company whose common stock is traded on the New York Stock Exchange Inc. (NYSE) under the symbol MU. The company's primary subsidiary, Micron Semiconductor Inc., manufactures and markets DRAMs, fast SRAMs, and other semiconductor products.
 NOTE: Ministack is a trademark of Micron Semiconductor, Inc.
 MICRON TECHNOLOGY INC. CONSOLIDATED FINANCIAL SUMMARY
 (Dollars in thousands except per share amounts)
 QUARTER SIX MONTHS
 March 4, March 5, March 4, March 5,
 1993 1992 1993 1992
 Net sales $176,410 $128,156 $307,378 $239,952
 Costs and expenses:
 Cost of goods sold 123,738 99,581 221,513 184,665
 Selling, general, and
 administrative 23,545 13,916 39,845 26,574
 Research and development 13,861 11,567 25,496 23,740
 Total costs and expenses 161,144 125,064 286,854 234,979
 Operating income 15,266 3,092 20,524 4,973
 Interest expense, net 1,149 806 2,193 1,710
 Income before income taxes 14,117 2,286 18,331 3,263
 Income tax provision 5,082 825 6,599 1,175
 Net income $ 9,035 $ 1,461 $ 11,732 $ 2,088
 Earnings per share $ 0.22 $ 0.04 $ 0.29 $ 0.05
 Number of shares used
 in per-share
 calculations 40,352,209 39,136,285 39,943,755 38,772,917
 SELECTED FINANCIAL DATA
 March 4, 1993 Sept. 3, 1992
 Cash and liquid investments $116,359 $ 73,291
 Receivables 99,489 77,953
 Inventories 82,221 74,501
 Total current assets 299,132 226,992
 Property, plant, and
 equipment, net 388,696 396,280
 Total assets 778,871 724,483
 Accounts payable and
 accrued expenses 84,328 58,769
 Current portion of long-term debt 31,701 27,230
 Total current liabilities 138,259 106,095
 Long-term debt 62,297 61,569
 Shareholders' equity 533,867 511,167
 Depreciation and amortization were $50.5 million and $12.2 million, respectively, for the six months ended March 4, 1993, and $45.5 million and $4.8 million, respectively, for the six months ended March 5, 1992.
 -0- 3/26/93 R
 /CONTACT: Kipp Bedard of Micron Semiconductor, 208-368-4400/
 (MU)


CO: Micron Technology Inc. ST: Idaho IN: CPR SU: ERN

SW -- SE001 -- 0325 03/29/93 08:16 EST
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Date:Mar 29, 1993
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