Micron Technology today announced results of operations for the company's first quarter of fiscal 2009, which ended December 4, 2008. For the first quarter of fiscal 2009, the company posted a net loss of $706 million, or $0.91 per diluted share, on net sales of $1.4 billion. These results reflect a non-cash charge to cost of goods sold of $369 million to write down the value of work in process and finished goods inventories of memory products to their estimated market values and a benefit of $157 million from first quarter sales of products that were subject toprevious write-downs. In the first quarter of fiscal 2009, the company generated $359 million in cash flow from operating activities and ended the quarter with cash and investments of $1.0 billion.
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Powerchip Semiconductor, Nanya Technology, Inotera Memories and ProMOS Technologies, the big four DRAM makers in the Taiwanese market, managed to collectively post losses of some $1.1 billion in Q3 this year, adding to the $2.7 billion in losses accumulated through the first half of 2008.
