Micron Technology Inc. reported consolidated earnings results for the first quarter ended November 28, 2013. For the quarter, the company reported net sales of $4,042 million against $1,834 million a year ago. Operating loss was $551 million against $97 million a year ago. Net income attributable to the company was $358 million against net loss attributable to the company was $275 million a year ago. Diluted earnings per share were $0.30 against diluted loss per share was $0.27 a year ago. Net cash provided by operating activities was $1,507 million against $236 million a year ago. Expenditures for property, plant and equipment was $526 million against $434 million a year ago. Payments on equipment purchase contracts were $143 million against $104 million a year ago. Revenues from sales of NAND Flash products were 8% higher in the first quarter of fiscal 2014 compared to the fourth quarter of fiscal 2013 primarily due to an 11% increase in sales volume offset by a slight decrease in average selling prices. Non-GAAP net income attributable to the company was $881 million against $317 million a year ago. Non-GAAP diluted earnings per share were $0.77 against $0.29 a year ago. Cash flows from operations for the first quarter of fiscal 2014 were $1.51 billion, while investments in capital expenditures were $669 million. Free cash flow was $838 million in the first quarter.

Capital spending for 2014 fiscal year is still expected to be between $2.6 billion and $3.2 billion.