Short: Micron income down 93 percent

Boise, Idaho-based memory chip maker Micron Technology said plunging prices for their products caused by unfair foreign competition has contributed to a net income decline of 93 percent in its fiscal forth quarter. The company, which has asked the U.S. Commerce Department to expand its investigation of alleged dumping by Korean semiconductor makers Hyundai Electronics Industries and LG Semicon of Korea, said its net income was $18.6 million for the quarter ended August 29, compared with $281.1 million for the same period last year.

Sept. 20, 1996 7:30 a.m. PT

Boise, Idaho-based memory chip maker said plunging prices for their products caused by unfair foreign competition has contributed to a net income decline of 93 percent in its fiscal forth quarter. The company, which has asked the U.S. Commerce Department to expand its investigation of alleged dumping by Korean semiconductor makers Hyundai Electronics Industries and LG Semicon of Korea, said its net income was $18.6 million for the quarter ended August 29, compared with $281.1 million for the same period last year.