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Micron to reduce workforce as profit loss widens in Q3

2016-07-04 10:22:00| Telecompaper Headlines

(Telecompaper) Micron Technology said revenues for its third quarter to 2 June fell 25 percent from the year before to USD 2.90 billion while the net loss widened to USD 215 million or USD 0.21 per diluted share from a loss of 97 million or 0.09 per diluted share. Cash flows from operations amounted to USD 389 million. CEO Mark Durcan said the company continued to face challenging market conditions, despite good progress in deploying its advanced DRAM and NAND technologies. To address the current market environment and strengthen its competitive, Micron will seek to implement initiatives to reduce costs, drive greater efficiencies and increase focus on strategic priorities. The initiatives, which include a global workforce reduction, are expected to save the company over USD 300 million in fiscal 2017.

Tags: loss reduce profit workforce

Understanding ice loss in Earths coldest regions

2016-07-04 02:32:00| Climate Ark Climate Change & Global Warming Newsfeed

ScienceDaily: How do ice sheets melt in places where surface conditions are too cold for melting? Glaciers in the McMurdo Dry Valley rarely are observed to be actively melting, yet runoff from these glaciers feeds streams, lakes, and associated ecosystems in the valleys, which are among the coldest and driest ecosystems on Earth. The processes generating melt under these marginal conditions are not well understood, and traditional melt modeling techniques are inadequate to explain the observed runoff. Using ice...

Tags: loss understanding regions ice

Blackberry loss widens to $670m

2016-06-23 15:48:28| BBC News | Business | UK Edition

Blackberry reports a $670m (450m) quarterly net loss, but the mobile phone company forecasts that its full-year results will beat expectations.

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Blackberry loss swells to USD 670 mln after writedowns

2016-06-23 15:07:00| Telecompaper Headlines

(Telecompaper) BlackBerry recorded a net loss of USD 670 million for its fiscal first quarter to May, reversing a profit of USD 68 million a year ago. The company took a number of writedowns in the quarter, including USD 501 million on assets, USD 57 million on goodwill and USD 41 million on inventory. Gross profit halved to USD 154 million, as revenue fell to USD 400 million from USD 658 million a year ago. BlackBerry said adjusted EBITDA remained positive for the tenth consecutive quarter and should remain so over the full year. Cash flow should also be positive over the full year, after a cash burn of USD 65 million in Q1, and the company said its more efficient operating model should mean an annual adjusted net loss half what the market currently expects, at around USD 0.15 per share.

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