World's 4th biggest semiconductor vendor Micron Technology has reported revenue earnings of $3.85 billion for its third quarter of fiscal 2015 , which ended June 4, 2015. The revenue reported is 8 percent lower compared to the second quarter of fiscal 2015 and 3 percent lower compared to the third quarter of fiscal 2014.
"In the fiscal third quarter, Micron experienced market headwinds driven primarily by weakness in the PC sector," stated D. Mark Durcan, Chief Executive Officer. "We remain focused on the long term as we continue to deploy advanced process technology to enable leading-edge products and drive manufacturing efficiency."
Micron stated in the release "Revenues for the third quarter of fiscal 2015 were 8 percent lower compared to the second quarter of fiscal 2015 primarily due to a 10 percent decline in DRAM average selling prices and relatively flat DRAM sales volume. The company's overall consolidated gross margin of 31 percent for the third quarter of fiscal 2015 was down 3 percent compared to the second quarter of fiscal 2015 primarily due to lower average selling prices for DRAM, partially offset by lower manufacturing costs."