US PC manufacturer Micron Electronics has reported a drop in net income and revenue for its second quarter, fuelling industry analysts? speculation that PC demand has fallen.
The company posted revenue of $373.6 million for the quarter ending 4 March, 1999, compared to $403.5 million in the previous quarter.
Net income, including the cost of consolidating and closing Micron?s Japanese operations, was $4.2 million or $0.04 per diluted share.
These results compare to net income of $24.8 million on sales of $494.8 million in the second quarter a year earlier.
Micron said pricing pressures were mainly to blame for the drop as lower priced PCs have impacted on sales. In addition, customers have been waiting for the release of Intel?s latest processor, the Pentium III, before making new purchases.
Micron?s results give additional weight to earlier comments from a senior Compaq vice president, Enrico Pesatori, who said his company had also noticed a slow down in demand for PCs in the first few months of this year and expected its next quarter?s results to reflect the dip. (see Newswire 19 March)
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