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UNITED STATES
                   SECURITIES AND EXCHANGE COMMISSION
                                                         Washington, D.C. 20549


                                                           FORM 8-K
                                              CURRENT REPORT
                      Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
                                                             April 4, 2007
                                             Date of Report (date of earliest event reported)


                                    MICRON TECHNOLOGY, INC.
                                           (Exact name of registrant as specified in its charter)

                    Delaware                                     1-10658                                       75-1618004
  (State or other jurisdiction of incorporation)          (Commission File Number)                  (I.R.S. Employer Identification No.)

                                                         8000 South Federal Way
                                                         Boise, Idaho 83716-9632
                                                   (Address of principal executive offices)

                                                             (208) 368-4000
                                          (Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c))
Item 2.02.    Disclosure of Results of Operations and Financial Condition.

               On April 4, 2007, Micron Technology, Inc. announced its financial results for the quarter ended March 1, 2007. The full
text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01.    Financial Statements and Exhibits.

              (d) Exhibits.

              The following exhibits are filed herewith:

Exhibit No.                                                           Description
     99.1       Press Release issued on April 4, 2007



                                                                  2
SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.


                                                                              MICRON TECHNOLOGY, INC.


Date: April 4, 2007                                                           By:    /s/ W. G. Stover, Jr.
                                                                              Name: W. G. Stover, Jr.
                                                                              Title: Vice President of Finance and
                                                                                     Chief Financial Officer



                                                                  3
INDEX TO EXHIBITS FILED WITH
                              THE CURRENT REPORT ON FORM 8-K DATED APRIL 4, 2007


Exhibit                                                Description
99.1      Press Release issued on April 4, 2007



                                                      4
EXHIBIT 99.1

FOR IMMEDIATE RELEASE

Contacts:   Kipp A. Bedard                     Daniel Francisco
            Investor Relations                 Media Relations
            kbedard@micron.com                 dfrancisco@micron.com
            (208) 368-4400                     (208) 368-5584


                               MICRON TECHNOLOGY, INC., REPORTS RESULTS FOR THE
                                        SECOND QUARTER OF FISCAL 2007

BOISE, Idaho, April 4, 2007 – Micron Technology, Inc., (NYSE: MU) today announced financial results for its second quarter and
first six months of fiscal 2007, which ended March 1. For the first six months of fiscal 2007, the Company earned net income of $63
million ($0.08 per diluted share) on net sales of $2.96 billion. For the second quarter, the Company incurred a net loss of $52 million
($0.07 per diluted share) on net sales of $1.43 billion.

          Megabit sales of memory products increased approximately 35 percent in the second quarter of fiscal 2007 compared to the
first quarter. During the second quarter, the Company increased its production of DRAM and NAND flash memory products by 15
percent and 60 percent, respectively, resulting from improved DRAM manufacturing efficiencies and the ramp of NAND production
in Virginia. Memory production slightly outpaced memory sales in the second quarter, leading to a higher level of finished goods
inventories. As a result of the higher levels of production, the Company’s per megabit manufacturing costs for DRAM and NAND
flash memory products decreased approximately 15 percent and 25 percent, respectively, in the second quarter compared to the first.

        “We are pleased with the ramp of our NAND flash production at our Virginia and Utah facilities,” said Micron Chief
Operating Officer Mark Durcan. “Both operations are executing well and proving the production worthiness of our advanced NAND
technology. Additionally, our TECH Semiconductor joint venture fab in Singapore is progressing ahead of schedule on its 300 mm
conversion and ramp of advanced DRAM devices.”

         Market conditions in the second quarter of fiscal 2007 for the Company’s memory products led to significant declines in
average selling prices for much of the Company’s product portfolio. Decreases in the Company’s costs of NAND flash memory
products were eclipsed by a nearly 30 percent reduction in
average selling prices in the second quarter. Cost decreases for DRAM products approximated the decreases in average selling prices,
resulting in relatively stable gross margins for DRAM products when comparing the second and first quarters of fiscal 2007. The
Company’s sales of CMOS image sensors in the second quarter decreased from the first quarter due to weakness in the mobile handset
market, increased competition and shifts in market mix towards lower value VGA-based camera phones.

         Steve Appleton, Micron Chairman, CEO and President, commented, “Notwithstanding current, challenging market
conditions, the size of the markets for our semiconductor products continues to grow at an impressive rate. Our broad product
portfolio, coupled with our expanded capacity, leaves us well positioned to leverage our investments in technology.”

         In the second quarter, the Company received proceeds of $309 million from incremental equipment financing and capital
contributions from joint venture partners of $259 million. The Company ended the second quarter with $2.2 billion in consolidated
cash and short-term investments. Subsequent to quarter end on March 30, 2007, the Company acquired the ownership interest in
TECH Semiconductor previously held by the Singapore Economic Development Board with the resulting ownership interest held by
the Company increasing to 73 percent.

         The Company will host a conference call today at 2:30 p.m. MDT to discuss its financial results. The call, audio and slides
will be available online at www.micron.com. A webcast replay will be available on the Company’s Web site until April 4, 2008. A
taped audio replay of the conference call will also be available at (973) 341-3080 (conference number: 8533070) beginning at 5:30
p.m. MDT today and continuing until 5:30 p.m. MDT on April 11, 2007.

          Micron Technology, Inc., is one of the world's leading providers of advanced semiconductor solutions. Through its
worldwide operations, Micron manufactures and markets DRAMs, NAND flash memory, CMOS image sensors, other semiconductor
components, and memory modules for use in leading-edge computing, consumer, networking and mobile products. Micron's common
stock is traded on the New York Stock Exchange (NYSE) under the MU symbol. To learn more about Micron visit www.micron.com.
MICRON TECHNOLOGY, INC.
                                          CONSOLIDATED FINANCIAL SUMMARY
                                           (Amounts in millions except per share data)

                                                                                                          Six Months Ended
                                                                        2nd Qtr.    1st Qtr.   2nd Qtr.
                                                                         Mar. 1,    Nov. 30,    Mar.2,    Mar. 1,   Mar. 2,
                                                                          2007       2006        2006      2007      2006

Net sales                                                               $ 1,427     $1,530     $ 1,225    $2,957   $ 2,587
Cost of goods sold                                                        1,070      1,088         989     2,158     2,040
  Gross margin                                                              357        442         236       799       547

Selling, general and administrative                                          153       180        108       333        203
Research and development                                                     243       183        159       426        325
Other operating (income) (1)                                                                     (219 )
                                                                              (5)      (31)                 (36)      (231)
Operating income (loss)                                                      (34)      110        188        76        250

Interest income (expense), net                                                 31     40    13               71         13
Other non-operating income (expense)                                            5      3    (1 )              8          --
Income tax (provision) (2)                                                     (6)    (9)   (7 )            (15)        (7)
Noncontrolling interests in net income                                        (48)   (29)    --             (77)         --
Net income (loss)                                                       $     (52) $ 115 $ 193            $ 63 $       256

Earnings (loss) per share:
  Basic                                                                 $ (0.07) $ 0.15        $ 0.29     $ 0.08   $ 0.39
  Diluted                                                                 (0.07)   0.15          0.27       0.08     0.37

Number of shares used in per share calculations:
  Basic                                                                     768.7    767.0      661.5      767.9     655.8
  Diluted                                                                   768.7    779.6      714.6      776.3     710.6
CONSOLIDATED FINANCIAL SUMMARY, Continued

                                                                                                                        As of
                                                                                                             Mar. 1,   Nov. 30,   Aug. 31,
                                                                                                              2007      2006       2006
Cash and short-term investments                                                                             $2,193     $2,638     $3,079
Receivables                                                                                                    943        996        956
Inventories                                                                                                  1,293      1,114        963
Total current assets                                                                                         4,528      4,853      5,101
Property, plant and equipment, net                                                                           7,593      7,010      5,888
Goodwill                                                                                                       522        502        502
Total assets                                                                                                13,376     13,074     12,221

Accounts payable and accrued expenses                                                                         1,376     1,578      1,319
Current portion of long-term debt                                                                               183       159        166
Total current liabilities                                                                                     1,777     1,925      1,661
Long-term debt (3)                                                                                              639       409        405
Noncontrolling interests in subsidiaries (4)                                                                  2,283     1,982      1,568
Total shareholders’ equity                                                                                    8,249     8,279      8,114

                                                                                                                       Six Months Ended
                                                                                                                       Mar. 1,   Mar.2,
                                                                                                                        2007      2006
Net cash provided by operating activities                                                                              $ 716 $1,306
Net cash used for investing activities                                                                                 (1,195) (694)
Net cash provided by financing activities                                                                                 614   400

Depreciation and amortization                                                                                             800        595
Expenditures for property, plant and equipment                                                                         (2,180)      (455)
Capital contributions from joint venture partners                                                                         647        500
Payments on equipment purchase contracts                                                                                 (287)       (77)

Noncash equipment acquisitions on contracts payable and capital leases                                                    667        144

(1) Other operating expense for the first six months of 2007 includes $10 million from gains on disposals of semiconductor
    equipment. Other operating income for the first quarter of fiscal 2007 includes a gain of $30 million from the sale of certain
    intellectual property to Toshiba Corporation. Other operating expense in the first quarter of fiscal 2007 includes net losses of $8
    million from changes in currency exchange rates. Other operating income for the second quarter of 2006 includes $230 million
    of net proceeds from Intel Corporation for the sale of the Company’s existing NAND Flash memory designs and certain related
    technology and the Company’s acquisition of a perpetual, paid-up license to use and modify such designs. Other operating
    expense for the second quarter and first six months of 2006 includes $9 million and $9 million, respectively, from losses net of
    gains on write-downs and disposals of semiconductor equipment.

(2) Income taxes for 2007 and 2006 primarily reflect taxes on the Company’s non-U.S. operations and U.S. alternative minimum
    tax. The Company has a valuation allowance for its net deferred tax asset
associated with its U.S. operations. The provision for taxes on U.S. operations in 2007 and 2006 was substantially offset by
    reductions in the valuation allowance. As of March 1, 2007, the Company had aggregate U.S. tax net operating loss
    carryforwards of $1.5 billion and unused U.S. tax credit carryforwards of $191 million. The Company also has unused state tax
    net operating loss carryforwards of $1.4 billion and unused state tax credits of $169 million. Substantially all of the net operating
    loss carryforwards expire in 2022 to 2025 and substantially all of the tax credit carryforwards expire in 2013 to 2026.

(3) In the second quarter of fiscal 2007, the Company received $309 million in proceeds from equipment financing arrangements
    payable in periodic installments over the next five years.

(4) Subsequent to second quarter end, effective March 30, 2007, the Company acquired all of the shares of TECH Semiconductor
    Singapore Pte. Ltd. (“TECH”) common stock held by the Singapore Economic Development Board for approximately $290
    million payable over nine months. As a result of the acquisition, the Company’s ownership interest in TECH increased from
    43% to 73%.

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micron technollogy 2q_2007_8-k_discl_results_ops_fin_cond

  • 1. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 April 4, 2007 Date of Report (date of earliest event reported) MICRON TECHNOLOGY, INC. (Exact name of registrant as specified in its charter) Delaware 1-10658 75-1618004 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 8000 South Federal Way Boise, Idaho 83716-9632 (Address of principal executive offices) (208) 368-4000 (Registrant’s telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c))
  • 2. Item 2.02. Disclosure of Results of Operations and Financial Condition. On April 4, 2007, Micron Technology, Inc. announced its financial results for the quarter ended March 1, 2007. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed herewith: Exhibit No. Description 99.1 Press Release issued on April 4, 2007 2
  • 3. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MICRON TECHNOLOGY, INC. Date: April 4, 2007 By: /s/ W. G. Stover, Jr. Name: W. G. Stover, Jr. Title: Vice President of Finance and Chief Financial Officer 3
  • 4. INDEX TO EXHIBITS FILED WITH THE CURRENT REPORT ON FORM 8-K DATED APRIL 4, 2007 Exhibit Description 99.1 Press Release issued on April 4, 2007 4
  • 5. EXHIBIT 99.1 FOR IMMEDIATE RELEASE Contacts: Kipp A. Bedard Daniel Francisco Investor Relations Media Relations kbedard@micron.com dfrancisco@micron.com (208) 368-4400 (208) 368-5584 MICRON TECHNOLOGY, INC., REPORTS RESULTS FOR THE SECOND QUARTER OF FISCAL 2007 BOISE, Idaho, April 4, 2007 – Micron Technology, Inc., (NYSE: MU) today announced financial results for its second quarter and first six months of fiscal 2007, which ended March 1. For the first six months of fiscal 2007, the Company earned net income of $63 million ($0.08 per diluted share) on net sales of $2.96 billion. For the second quarter, the Company incurred a net loss of $52 million ($0.07 per diluted share) on net sales of $1.43 billion. Megabit sales of memory products increased approximately 35 percent in the second quarter of fiscal 2007 compared to the first quarter. During the second quarter, the Company increased its production of DRAM and NAND flash memory products by 15 percent and 60 percent, respectively, resulting from improved DRAM manufacturing efficiencies and the ramp of NAND production in Virginia. Memory production slightly outpaced memory sales in the second quarter, leading to a higher level of finished goods inventories. As a result of the higher levels of production, the Company’s per megabit manufacturing costs for DRAM and NAND flash memory products decreased approximately 15 percent and 25 percent, respectively, in the second quarter compared to the first. “We are pleased with the ramp of our NAND flash production at our Virginia and Utah facilities,” said Micron Chief Operating Officer Mark Durcan. “Both operations are executing well and proving the production worthiness of our advanced NAND technology. Additionally, our TECH Semiconductor joint venture fab in Singapore is progressing ahead of schedule on its 300 mm conversion and ramp of advanced DRAM devices.” Market conditions in the second quarter of fiscal 2007 for the Company’s memory products led to significant declines in average selling prices for much of the Company’s product portfolio. Decreases in the Company’s costs of NAND flash memory products were eclipsed by a nearly 30 percent reduction in
  • 6. average selling prices in the second quarter. Cost decreases for DRAM products approximated the decreases in average selling prices, resulting in relatively stable gross margins for DRAM products when comparing the second and first quarters of fiscal 2007. The Company’s sales of CMOS image sensors in the second quarter decreased from the first quarter due to weakness in the mobile handset market, increased competition and shifts in market mix towards lower value VGA-based camera phones. Steve Appleton, Micron Chairman, CEO and President, commented, “Notwithstanding current, challenging market conditions, the size of the markets for our semiconductor products continues to grow at an impressive rate. Our broad product portfolio, coupled with our expanded capacity, leaves us well positioned to leverage our investments in technology.” In the second quarter, the Company received proceeds of $309 million from incremental equipment financing and capital contributions from joint venture partners of $259 million. The Company ended the second quarter with $2.2 billion in consolidated cash and short-term investments. Subsequent to quarter end on March 30, 2007, the Company acquired the ownership interest in TECH Semiconductor previously held by the Singapore Economic Development Board with the resulting ownership interest held by the Company increasing to 73 percent. The Company will host a conference call today at 2:30 p.m. MDT to discuss its financial results. The call, audio and slides will be available online at www.micron.com. A webcast replay will be available on the Company’s Web site until April 4, 2008. A taped audio replay of the conference call will also be available at (973) 341-3080 (conference number: 8533070) beginning at 5:30 p.m. MDT today and continuing until 5:30 p.m. MDT on April 11, 2007. Micron Technology, Inc., is one of the world's leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets DRAMs, NAND flash memory, CMOS image sensors, other semiconductor components, and memory modules for use in leading-edge computing, consumer, networking and mobile products. Micron's common stock is traded on the New York Stock Exchange (NYSE) under the MU symbol. To learn more about Micron visit www.micron.com.
  • 7. MICRON TECHNOLOGY, INC. CONSOLIDATED FINANCIAL SUMMARY (Amounts in millions except per share data) Six Months Ended 2nd Qtr. 1st Qtr. 2nd Qtr. Mar. 1, Nov. 30, Mar.2, Mar. 1, Mar. 2, 2007 2006 2006 2007 2006 Net sales $ 1,427 $1,530 $ 1,225 $2,957 $ 2,587 Cost of goods sold 1,070 1,088 989 2,158 2,040 Gross margin 357 442 236 799 547 Selling, general and administrative 153 180 108 333 203 Research and development 243 183 159 426 325 Other operating (income) (1) (219 ) (5) (31) (36) (231) Operating income (loss) (34) 110 188 76 250 Interest income (expense), net 31 40 13 71 13 Other non-operating income (expense) 5 3 (1 ) 8 -- Income tax (provision) (2) (6) (9) (7 ) (15) (7) Noncontrolling interests in net income (48) (29) -- (77) -- Net income (loss) $ (52) $ 115 $ 193 $ 63 $ 256 Earnings (loss) per share: Basic $ (0.07) $ 0.15 $ 0.29 $ 0.08 $ 0.39 Diluted (0.07) 0.15 0.27 0.08 0.37 Number of shares used in per share calculations: Basic 768.7 767.0 661.5 767.9 655.8 Diluted 768.7 779.6 714.6 776.3 710.6
  • 8. CONSOLIDATED FINANCIAL SUMMARY, Continued As of Mar. 1, Nov. 30, Aug. 31, 2007 2006 2006 Cash and short-term investments $2,193 $2,638 $3,079 Receivables 943 996 956 Inventories 1,293 1,114 963 Total current assets 4,528 4,853 5,101 Property, plant and equipment, net 7,593 7,010 5,888 Goodwill 522 502 502 Total assets 13,376 13,074 12,221 Accounts payable and accrued expenses 1,376 1,578 1,319 Current portion of long-term debt 183 159 166 Total current liabilities 1,777 1,925 1,661 Long-term debt (3) 639 409 405 Noncontrolling interests in subsidiaries (4) 2,283 1,982 1,568 Total shareholders’ equity 8,249 8,279 8,114 Six Months Ended Mar. 1, Mar.2, 2007 2006 Net cash provided by operating activities $ 716 $1,306 Net cash used for investing activities (1,195) (694) Net cash provided by financing activities 614 400 Depreciation and amortization 800 595 Expenditures for property, plant and equipment (2,180) (455) Capital contributions from joint venture partners 647 500 Payments on equipment purchase contracts (287) (77) Noncash equipment acquisitions on contracts payable and capital leases 667 144 (1) Other operating expense for the first six months of 2007 includes $10 million from gains on disposals of semiconductor equipment. Other operating income for the first quarter of fiscal 2007 includes a gain of $30 million from the sale of certain intellectual property to Toshiba Corporation. Other operating expense in the first quarter of fiscal 2007 includes net losses of $8 million from changes in currency exchange rates. Other operating income for the second quarter of 2006 includes $230 million of net proceeds from Intel Corporation for the sale of the Company’s existing NAND Flash memory designs and certain related technology and the Company’s acquisition of a perpetual, paid-up license to use and modify such designs. Other operating expense for the second quarter and first six months of 2006 includes $9 million and $9 million, respectively, from losses net of gains on write-downs and disposals of semiconductor equipment. (2) Income taxes for 2007 and 2006 primarily reflect taxes on the Company’s non-U.S. operations and U.S. alternative minimum tax. The Company has a valuation allowance for its net deferred tax asset
  • 9. associated with its U.S. operations. The provision for taxes on U.S. operations in 2007 and 2006 was substantially offset by reductions in the valuation allowance. As of March 1, 2007, the Company had aggregate U.S. tax net operating loss carryforwards of $1.5 billion and unused U.S. tax credit carryforwards of $191 million. The Company also has unused state tax net operating loss carryforwards of $1.4 billion and unused state tax credits of $169 million. Substantially all of the net operating loss carryforwards expire in 2022 to 2025 and substantially all of the tax credit carryforwards expire in 2013 to 2026. (3) In the second quarter of fiscal 2007, the Company received $309 million in proceeds from equipment financing arrangements payable in periodic installments over the next five years. (4) Subsequent to second quarter end, effective March 30, 2007, the Company acquired all of the shares of TECH Semiconductor Singapore Pte. Ltd. (“TECH”) common stock held by the Singapore Economic Development Board for approximately $290 million payable over nine months. As a result of the acquisition, the Company’s ownership interest in TECH increased from 43% to 73%.