US-based memory chipmaker Micron Technology has reported net profits for its third quarter of fiscal 2013, following seven straight quarters of losses.

　　Micron swung to net profits of US$43 million in the quarter ended May 30, 2013, from losses of US$286 million incurred in the prior quarter and losses of US$320 million in the year-ago period. Improvement in the company's revenue and gross margin performance led to its return to profitability.

　　Micron generated net sales of US$2.3 billion in the third quarter of fiscal 2013, compared to the US$2.1 billion registered in the second quarter and US$2.2 billion in the third quarter of fiscal 2012. Revenues from sales of DRAM products in the third quarter of fiscal 2013 were 23% higher compared to the second quarter, while those of NAND flash products increased 7% on quarter, Micron disclosed.

　　Thanks to growth in product ASPs, Micron's gross margin improved to 24% in the third quarter of fiscal 2013 compared to 18% in the previous quarter, the firm said.

　　"As the memory market shows improvement in both DRAM and NAND fundamentals, we continue to focus our efforts on advancing our operational efficiency," said Micron CEO Mark Durcan in a statement.

　　"We have also made progress in securing the necessary approvals related to the Elpida acquisition and are optimistic we will be able to close the transaction in our fiscal fourth quarter ending August 29, 2013," Durcan continued.

　　Around mid-2012, Micron announced its agreement with Elpida Memory to acquire the bankrupt Japan-based chipmaker and its associated fab Rexchip Electronics.