Memory chip maker Micron's earnings dip

SAN FRANCISCO, USA: Micron Technology's fiscal first-quarter earnings were down from a year earlier.

The top U.S. maker of memory chips for computers said net profit was $155 million, or 15 cents per share, in its fiscal first quarter, which ended on December 2, compared with $204 million, or 23 cents per share, a year earlier.

Shares of Micron, which competes with industry leader Samsung as well as Elpida and Hynix Semiconductor, rose 1 percent, or 10 cents, following its earnings report, after gaining 1.7 percent to close at $8.28 in the regular session on Wednesday.

Revenue in the first quarter was to $2.3 billion, up from $1.7 billion in the year-earlier period.