UPDATE 3-Micron Q4 beats Street, investors take profits

miércoles 30 de septiembre de 2009 04:18 CEST

* Q4 loss 10 cents versus Street view loss 18 cents

* Q4 revenue $1.3 bln vs Street $1.28 bln

* Shares give up initial gains, flat after-hours (Adds executive comment, background, byline)

By Clare Baldwin and Ian Sherr

SAN FRANCISCO, Sept 29 (Reuters) - U.S. chipmaker Micron Technology Inc MU.N posted a narrower-than-expected quarterly loss as improving demand boosted sales and prices, but its shares gave up initial gains as investors locked in profits.

Some analysts said investors were also disappointed that the company did not give any indication that it expected chip prices to continue to recover.

Micron executives said memory chip supply and demand would be roughly balanced for the rest of calendar 2009 as the industry emerges from its worst downturn in decades.

Wedbush Morgan Securities analyst Betsy Van Hees said a rally in chip prices in recent months had encouraged investors, who were looking for a stronger recovery than Micron had suggested.

The company's shares rose more than 3 percent in after-hours trading before slipping to $8.40, their regular session close. The stock has tripled this year.   Continuación...