Micron Technology, Inc., Reports Results for the Fourth Quarter and Full Year of Fiscal 2018

BOISE, Idaho, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Micron Technology, Inc., (NASDAQ: MU) today announced results of operations for its fourth quarter and full year of fiscal 2018, which ended August 30, 2018.

Fiscal Q4 2018 highlights

  • Revenues of $8.44 billion, up 38 percent compared with the same period last year
  • GAAP net income of $4.33 billion, or $3.56 per diluted share
  • Non-GAAP net income of $4.31 billion, or $3.53 per diluted share
  • Operating cash flow of $5.16 billion, compared with $3.20 billion for the same period last year

Fiscal 2018 highlights

  • Revenues of $30.39 billion, up 50 percent compared with the prior fiscal year
  • GAAP net income of $14.14 billion, or $11.51 per diluted share
  • Non-GAAP net income of $14.70 billion, or $11.95 per diluted share
  • Operating cash flow of $17.40 billion, compared with $8.15 billion for the prior fiscal year

"Micron delivered an exceptional fourth quarter and capped record fiscal year results by becoming the second largest semiconductor company in the U.S.," said Sanjay Mehrotra, President and CEO of Micron Technology. "In the fourth quarter, we set revenue records across all our major markets, from automotive and industrial to mobile and cloud datacenters. The secular and diversified growth drivers in our industry combined with accelerating pace of transformation of the new Micron form a tremendous catalyst for us to create enduring value for our customers and investors in 2019 and the years ahead."

 
Quarterly Financial Results
(in millions, except per share amounts) GAAP (1)  Non-GAAP (2)
FQ4-18 FQ3-18 FQ4-17  FQ4-18 FQ3-18 FQ4-17
Revenue$8,440 $7,797 $6,138  $8,440 $7,797 $6,138 
Gross margin$5,151 $4,723 $3,112  $5,179 $4,750 $3,147 
percent of revenue 61.0%  60.6%  50.7%   61.4%  60.9%  51.3% 
Operating income$4,377 $3,953 $2,502  $4,439 $4,017 $2,546 
percent of revenue 51.9%  50.7%  40.8%   52.6%  51.5%  41.5% 
Net income attributable to Micron$4,325 $3,823 $2,368  $4,313 $3,898 $2,386 
Diluted earnings per share$3.56 $3.10 $1.99  $3.53 $3.15 $2.02 
                       

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