Micron Technology, Inc. Reports Results for the Fourth Quarter and Full Year of Fiscal 2020

DRAM portfolio strengthened with 1z ramp; High-value NAND shipments reach record levels in FY20

BOISE, Idaho, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2020, which ended Sept. 3, 2020.

Fiscal Q4 2020 highlights

  • Revenue of $6.06 billion versus $5.44 billion for the prior quarter and $4.87 billion for the same period last year
  • GAAP net income of $988 million, or $0.87 per diluted share
  • Non-GAAP net income of $1.23 billion, or $1.08 per diluted share
  • Operating cash flow of $2.27 billion versus $2.02 billion for the prior quarter and $2.23 billion for the same period last year

Fiscal 2020 highlights

  • Revenue of $21.44 billion versus $23.41 billion for the prior year
  • GAAP net income of $2.69 billion, or $2.37 per diluted share
  • Non-GAAP net income of $3.24 billion, or $2.83 per diluted share
  • Operating cash flow of $8.31 billion versus $13.19 billion for the prior year

“Micron delivered solid fiscal fourth quarter revenue and EPS resulting from strong DRAM sales in cloud, PC and gaming consoles and an extraordinary increase in QLC NAND shipments,” said Micron Technology President and CEO Sanjay Mehrotra. “We look forward to improving market conditions throughout calendar 2021, driven by 5G, cloud and automotive growth, and we are excited by the continued momentum in our product portfolio.”

Quarterly Financial Results
(in millions, except per share amounts) GAAP(1)  Non-GAAP(2)
FQ4-20 FQ3-20 FQ4-19  FQ4-20 FQ3-20 FQ4-19
        
Revenue$6,056 $5,438 $4,870  $6,056 $5,438 $4,870 
Gross margin2,068 1,763 1,395  2,111 1,804 1,491 
percent of revenue34.1%32.4%28.6% 34.9%33.2%30.6%
Operating expenses911 875 745  809 823 797 
Operating income1,157 888 650   1,302   981   694  
percent of revenue 19.1 % 16.3 % 13.3 %   21.5 % 18.0 % 14.3 %
Net income attributable to Micron 988   803   561     1,229   941   637  
Diluted earnings per share 0.87   0.71   0.49     1.08   0.82   0.56  

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »



Review Article Be the first to review this article
Aldec

New Customer Special

Featured Video
Latest Blog Posts
Colin WallsEmbedded Software
by Colin Walls
Time for a new programming paradigm?
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Automatic Handling of Register Clock Domain Crossings
Modesto (Mo) CasasGlobal Business in EDA
by Modesto (Mo) Casas
Globalizing Sales in a COVID-19 Environment
Jobs
Graduate Hardware Engineer for arm at Austin, Texas
Product Line Manager for EDA Careers at Multiple, North Carolina
Senior Application Engineer Formal Verification for EDA Careers at San Jose and Austin, California
Upcoming Events
DVCon Europe 2020 Virtual at Germany - Oct 27 - 28, 2020
SystemC Evolution Day at Germany - Oct 29, 2020
2020 International Conference On Computer Aided Design at San Diego Mission Bay Resort San Diego CA - Nov 2 - 5, 2020
Verific: SystemVerilog & VHDL Parsers
TrueCircuits:



© 2020 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