Micron Technology, Inc., Reports Results for the Third Quarter of Fiscal 2018

Investments in capital expenditures, net of amounts funded by partners, were $2.10 billion, which resulted in adjusted free cash flows(3) of $2.16 billion for the third quarter of 2018. During the quarter, we repurchased or converted $2.31 billion principal amount of our debt, lowering our total carrying value of debt to $7.34 billion exiting the quarter. We ended the third quarter in a net cash positive position with cash, marketable investments, and restricted cash of $7.68 billion.

We will host a conference call on Wednesday, June 20, 2018 at 2:30 p.m. MT to discuss our financial results. The call, audio, and slides will be available online at investors.micron.com. A webcast replay will be available on our website until June 20, 2019. A taped audio replay of the conference call will also be available at 1-404-537-3406 or 1-855-859-2056 (conference number: 5788319) beginning at 5:30 p.m. MT, Wednesday, June 20, 2018 and continuing through Wednesday, June 27, 2018. For Investor Relations and other company updates, follow @MicronTech on Twitter at twitter.com/MicronTech.

We are an industry leader in innovative memory and storage solutions. Through our global brands – Micron®, Crucial®, and Ballistix® – our broad portfolio of high-performance memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint™ memory, is transforming how the world uses information to enrich life. Backed by nearly 40 years of technology leadership, our memory and storage solutions enable disruptive trends, including artificial intelligence, machine learning, and autonomous vehicles, in key market segments like cloud, data center, networking, and mobile. Our common stock is traded on the NASDAQ under the MU symbol. To learn more about Micron Technology, Inc., visit micron.com.

The Micron logo and Micron symbol are trademarks of Micron Technology, Inc. All other trademarks are the property of their respective owners.

This press release contains forward-looking statements regarding the industry and our strategic position and financial results. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents we file with the Securities and Exchange Commission, specifically our most recent Form 10-K and Form 10-Q. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at www.micron.com/certainfactors. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. We are under no duty to update any of the forward-looking statements after the date of this release to conform these statements to actual results.

(1) GAAP represents U.S. Generally Accepted Accounting Principles.
(2) Non-GAAP represents GAAP excluding the impact of certain activities which our management excludes in analyzing our operating results and understanding trends in our earnings. Non-GAAP also includes the impact on shares used in per share calculations of our outstanding capped call transactions and from the exclusion of stock-based compensation. For a reconciliation of GAAP to non-GAAP results, see the accompanying financial tables and footnotes.
(3) Adjusted free cash flow consists of cash provided by operating activities of $4.26 billion less investments in capital expenditures, net of amounts funded by partners. 

 
MICRON TECHNOLOGY, INC.
CONSOLIDATED FINANCIAL SUMMARY
(in millions except per share amounts)
        
  3rd Qtr.  2nd Qtr.  3rd Qtr.  Nine Months Ended
  May 31, 2018  March 1, 2018  June 1, 2017  May 31, 2018  June 1, 2017
Net sales$7,797  $7,351  $5,566  $21,951  $14,184 
Cost of goods sold3,074  3,081  2,957  9,211  8,860 
Gross margin4,723  4,270  2,609  12,740  5,324 
Selling, general, and administrative211  196  204  598  550 
Research and development603  523  434  1,574  1,377 
Other operating (income) expense, net(44) (16) 8  (49) 31 
Operating income3,953  3,567  1,963     10,617     3,366  
Interest income (expense), net (1) (44 )   (61 )   (143 )   (206 )   (428 )
Other non-operating income (expense), net (1) (193 )   (53 )   (83 )   (450 )   (63 )
Income tax (provision) benefit (2) 109     (143 )   (92 )   (148 )   (161 )
Equity in net income (loss) of equity method investees (2 )   1     2     (1 )   7  
Net (income) attributable to noncontrolling interests     (2 )       (2 )    
Net income attributable to Micron $ 3,823     $ 3,309     $ 1,647     $ 9,810     $ 2,721  
                   
Earnings per share                  
Basic $ 3.30     $ 2.86     $ 1.49     $ 8.53     $ 2.52  
Diluted 3.10     2.67     1.40     7.96     2.38  
                   
Number of shares used in per share calculations                  
Basic 1,159     1,156     1,106     1,150     1,082  
Diluted 1,235     1,238     1,177     1,233     1,142  
                             

« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
Aldec

 Advanced Asembly

Featured Video
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
What’s on Tap from the ESD Alliance? Plenty! Read On …
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Automating IP and SoC Development
Jobs
Staff SerDes Applications Design Engineer for Xilinx at San Jose, California
Test and Measurement System Architect for Xilinx at San Jose, California
Circuit Design & Layout Simulation Engineer - Co-Op (Spring 2021) for Global Foundaries at Santa Clara, California
Principle Engineer (Analog-Mixed-Signal Implementation) for Global Foundaries at Santa Clara, California
SoC Physical Design Engineer for Qualcomm at Austin, Texas
Senior HID Sensor Algorithm Architect for Apple Inc at Cupertino, California
Upcoming Events
Simulation World at United States - Apr 20 - 21, 2021
Virtual ASMC 2021 at United States - May 10 - 12, 2021
DVCon China 2021 at Shanghai China - May 26, 2021
CadenceLIVE Americas 2021 at United States - Jun 8 - 9, 2021
True Circuits IoT



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise