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MICRON TECHNOLOGY INC. REPORTS THIRD-QUARTER 1993 RESULTS

 BOISE, Idaho, June 15 /PRNewswire/ -- Micron Technology Inc. (NYSE: MU) today reported net sales for the third fiscal quarter ended June 3, 1993, were $214.9 million, compared to net sales of $131.1 million for the same quarter a year ago. Net sales for the first nine months of fiscal 1993, totaled $522.3 million, compared to $371.1 million for the nine months ended June 4, 1992.
 Micron reported net income of $29.5 million, or 73 cents per share, for the third fiscal quarter of 1993, and net income of $41.2 million, or $1.03 per share, for the nine months ended June 3, 1993. For the third fiscal quarter a year ago, Micron reported net income of $1.7 million, or 4 cents per share, and for the first nine months of fiscal 1992 reported net income of $3.7 million, or 10 cents per share.
 Net sales increased in the third quarter and for the first nine months of 1993 principally due to higher volumes of semiconductor memory sold. Improved manufacturing yields, principally for the Ministack(TM) version of the 4 Meg DRAM, resulted in significant volume increases in the third quarter of 1993. Net income for both the third quarter and the first nine months of 1993 rose principally as a result of continued reduction in cost per unit sold. Average selling prices for the company's principal DRAM products were slightly higher in the third quarter of 1993 compared with the immediately preceding quarter.
 Micron Technology Inc. announced on June 3, 1993, that it had reached a tentative patent cross-license agreement with Goldstar Electron Co. Ltd. Upon finalization of the agreement, the patent infringement complaint filed by the company's subsidiary, Micron Semiconductor Inc., against Goldstar and its U.S. subsidiary in the International Trade Commission (ITC) will be dismissed. The agreement does not dismiss Micron Semiconductor's continuing infringement action in the ITC against Hyundai Electronics Industries Co. Ltd. and its U.S. subsidiary. In a separate matter, the ITC announced an affirmative final determination that below fair value pricing of Korean DRAM imports materially injured the U.S. semiconductor industry and, accordingly, the U.S. Department of Commerce will impose antidumping duties against Korean DRAM imports based on the final margins released in March. Hyundai has appealed the ITC's determination.
 The company continues to face patent litigation. The company's legal actions with Texas Instruments Inc. (TI), regarding patents, are proceeding. The original claims filed by TI in Marshall, Texas, have been stayed while the lawsuit filed by Micron Semiconductor Inc., against TI in Idaho proceeds. TI has since filed another suit against Micron Semiconductor Inc., in Marshall, Texas, regarding three additional patents not cited in the original claims. In addition, there is currently pending against the company in the Federal District Court in Delaware a suit by Thorn EMI North America Inc. (TENA), alleging infringement of certain TENA patents.
 Despite strong earnings for the quarter, the company continues to be cautious regarding the future. Historically, strong market conditions have encouraged significant increases in worldwide production capacity. Several worldwide manufacturers, particularly Korean companies, are reportedly increasing capacity which could negatively impact future product pricing. In addition, several manufacturers have been increasing production of 16 Meg DRAMs. The company's 16 Meg DRAM has yet to enter commercial production. A significant portion of semiconductor memory devices are produced by foreign manufacturers. As a result, currency fluctuations resulting in a strengthening dollar could result in downward product pricing pressure.
 Other areas of concern for the future include continuing patent infringement claims and litigation, technological advances by competitors, potentially declining market conditions for personal computer manufacturers, the cyclical nature of the semiconductor commodity market, recent decreases in industry book-to-bill ratios, manufacturing yield fluctuations, generally high capital spending requirements, and ongoing difficulties doing business in an industry dominated by foreign competitors.
 Micron Technology Inc., based in Boise, Idaho, 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 Nine Months
 Ended Ended
 June 3, June 4, June 3, June 4,
 1993 1992 1993 1992
 Net sales $214,926 $131,133 $522,304 $371,085
 Costs and Expenses:
 Cost of goods sold 132,323 100,883 353,836 285,548
 Selling, general and
 administrative 21,061 14,682 60,906 41,256
 Research and development 14,685 11,796 40,181 35,536
 Total costs and expenses 168,069 127,361 454,923 362,340
 Operating income 46,857 3,772 67,381 8,745
 Interest expense, net 776 1,185 2,969 2,895
 Income before income taxes 46,081 2,587 64,412 5,850
 Income tax provision 16,589 931 23,188 2,106
 Net income $ 29,492 $ 1,656 $ 41,224 $ 3,744
 Earnings per share $ 0.73 $ 0.04 $ 1.03 $ 0.10
 Number of shares used
 in per-share
 calculations 40,560,035 39,037,246 40,040,287 38,851,207
 SELECTED FINANCIAL DATA
 June 3, Sept. 3,
 1993 1992
 Cash and liquid investments $137,635 $ 73,291
 Receivables 107,868 77,953
 Inventories 88,150 74,501
 Total current assets 335,265 226,992
 Property, plant and equipment, net 406,271 396,280
 Total assets 833,190 724,483
 Accounts payable and accrued expenses 102,833 58,769
 Current portion of long-term debt 25,018 27,230
 Total current liabilities 157,802 106,095
 Long-term debt 57,897 61,569
 Shareholders' equity 568,199 511,167
 Depreciation and amortization were $84.2 million and $18.7 million, respectively, for the nine months ended June 3, 1993, and $68.7 million and $7.9 million, respectively, for the nine months ended June 4, 1992.
 Periodically, the company is made aware that technology used by the company in the manufacture of some or all of its products may infringe on valid product or process technology rights held by others. The company has accrued a liability and charged operations for the estimated costs of settlement or adjudication of asserted and unasserted claims for infringement prior to the balance sheet date. Management cannot estimate the range of additional possible loss from resolution of these uncertainties and can give no assurance that the amounts accrued have been adequate. Resolution of whether the company's manufacture of products has infringed on valid rights held by others may have a material adverse effect on the company's financial position and may require material changes in production processes and products.
 -0- 6/15/93 R
 /CONTACT: Kipp Bedard of Micron Semiconductor, 208-368-4400/
 (MU)


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

SW-JH -- SE004 -- 2467 06/16/93 08:17 EDT
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