Micron Posts More Red Ink, $1 Billion Annual Loss

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Boise-based Micron Technology posted a bigger loss and lower sales for its fourth quarter this afternoon, the company's fifth straight quarterly loss.

Micron reported a net loss of $243 million, or 24 cents per share. The quarterly loss raises the company's red ink in the last fiscal year (which ended in August) to $1.03 billion.

"Our focus throughout 2013 is to drive additional cost reductions and advance our leading-edge memory technology to achieve increased manufacturing efficiencies," Micron CEO Mark Durcan said in a news release.

Durcan spoke before a sold-out gathering at the Aug. 28 City Club meeting, where he cautioned that his "business landscape isn't any safer."

"I think we've done a lot of things right over the years," said Durcan. "We've been clever about how we access capital and how we grow."