Asia Bizz: Micron Technology Posts $1.9 Billion In Profit For Fiscal Year 2010
Micro Technology has posted $1.9 billion in profit, for the fiscal year 2010. It is a proud moment for the company as they have shot up with their earnings and have recovered from a fiscal loss in the year 2009, which amounted to almost the same they have earned this year. Profit earnings came in after there was acute demand in the products as they recovered from their last year’s loss.
It posted an earning of $342 million in the fourth quarter of last year, which was a big push to make a strong revenue boost. According to the Chairman of Micron Technology, Steve Appleton, he said that the company has emerged strong after facing really a bad financial period.
Micron’s financial statements show, that the company had a total revenue of $8.5 billion, and a total cash and investment of $2.9 billion. In this period that company has invested $950 million and paid their debts worth $640 million. We can see strong development here in the context of Micron, but they also need to keep up with their development in the following year also.