Micron Technology Inc. (NYSE: MU) swung to a quarterly loss of $225 million after the bell on Thursday after the memory maker saw price drops across its product line.

The memory maker’s third quarter loss was $225 million, or 29 cents a share, down from a profit of $88 million, or 12 cents, a year earlier. Sales fell 1.4 percent to $1.29 billion in the period ended May 31.

Analysts surveyed by Thomson Financial had, on average forecast Micron to lose 24 cents a share on $1.26 billion in sales.

Micron's vice president of sales said that oversupply in the memory chip market contributed to the sagging results. The price of NAND flash chips, the company’s staple, fell 30 percent in the third quarter as well.

This has clearly been a challenging quarter to say the least, he said in a conference call following the quarterly announcement.

Boise, Idaho-based Micron did not make a forecast for the next fiscal quarter, but analysts estimate a loss of 11 cents a share on $1.39 billion in revenue.

Shares rose 12 cents, or 0.97 percent, to close at $12.53 on the New York Stock Exchange.