Micron Technology Q1 adjusted earnings of $0.48 per share

(RTTNews) - Micron Technology (MU) reported earnings for first quarter that decreased from the same period last year.

The company's bottom line came in at $491 million, or $0.43 per share. This compares with $3293 million, or $2.81 per share, in last year's first quarter.

Excluding items, Micron Technology reported adjusted earnings of $548 million or $0.48 per share for the period.

The company's revenue for the quarter fell 35.0% to $5.14 billion from $7.91 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q1): $548 Mln. vs. $3508 Mln. last year. -EPS (Q1): $0.48 vs. $2.97 last year. -Revenue (Q1): $5.14 Bln vs. $7.91 Bln last year.

-Guidance: Next quarter EPS guidance: $0.35 - $0.06 Next quarter revenue guidance: $4.5 - $4.8 Bln