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
March 29, 2012
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c))
|
Item 2.02.
|
Results of Operations and Financial Condition.
|
On March 29, 2012, the Company issued a press release relating to its entering into an agreement with Oracle America Inc. to settle all claims related to a lawsuit between them. A copy of the press release related to this announcement is attached as Exhibit 99.1 hereto.
|
Item 9.01.
|
Financial Statement and Exhibits.
|
|
(d) Exhibits.
|
|
Exhibit No.
|
Description
|
|
|
99.1
|
Press Release issued on March 29, 2012
|
1
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:
|
March 29, 2012
|
By:
|
/s/ Ronald C. Foster |
|
Name:
|
Ronald C. Foster
|
||
|
Title:
|
Chief Financial Officer and
Vice President of Finance
|
||
2
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contacts: Kipp A Bedard Daniel Francisco
Investor Relations Micron Technology, Inc.
1-208-368-4465 1-208-368-5584
kbedard@micron.com dfrancisco@micron.com
Micron Technology Settles Lawsuit with Oracle
BOISE, Idaho, March 29, 2012 – Micron Technology, Inc. (NASDAQ: MU), announced today that it reached an agreement with Oracle America Inc. (“Oracle”) to settle a lawsuit filed by Oracle against Micron in the U.S. District Court for the Northern District of California. The lawsuit alleged a conspiracy to increase DRAM prices and other violations of federal and state antitrust and unfair competition laws based on purported conduct for the period from Aug. 1, 1998, through at least June 15, 2002, and sought joint and several damages, trebled, as well as restitution, disgorgement, attorneys' fees, costs and injunctive relief. Pursuant to the settlement agreement, the parties agreed to a settlement and release of all claims and a dismissal with prejudice of the litigation.
Under applicable accounting principles, the effect of this settlement on Micron’s results of operations for the second fiscal quarter of 2012 is a reduction in revenue and an increase in the net loss attributable to Micron shareholders of $58 million as compared to the results previously reported on March 22, 2012, with corresponding adjustments to other items included in the company’s results of operations. As a result, for the second quarter of fiscal 2012, Micron’s net loss attributable to its shareholders was $282 million, or $0.29 per diluted share, on net sales of $2.009 billion. The full effect of the settlement on Micron’s results of operations and financial position for the second quarter of fiscal 2012 will be provided in Micron’s Form 10-Q.
# # #
Micron Technology, Inc., is one of the world's leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets a full range of DRAM, NAND and NOR flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. Micron’s common stock is traded on the NASDAQ under the MU symbol. To learn more about Micron Technology, Inc., visit www.micron.com.
.