Micron Technology Q4 adjusted earnings Beat Estimates

(RTTNews) - Micron Technology (MU) announced earnings for fourth quarter that declined from last year.

The company's profit came in at $561 million, or $0.49 per share. This compares with $4325 million, or $3.56 per share, in last year's fourth quarter.

Excluding items, Micron Technology reported adjusted earnings of $637 million or $0.56 per share for the period.

Analysts had expected the company to earn $0.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 42.3% to $4.87 billion from $8.44 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q4): $637 Mln. vs. $4313 Mln. last year. -EPS (Q4): $0.56 vs. $3.53 last year. -Analysts Estimate: $0.49 -Revenue (Q4): $4.87 Bln vs. $8.44 Bln last year.