MU FY 2006 Earnings Report — Micron Technology, Inc. Revenue & Financial Results | Market Cap Arena

Micron Technology, Inc.MU

FY 2006 Earnings

Reported November 7, 2006

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$5.3B	—	—	—	—
Op. Income	$350M	—	—	—	—
Gross Margin	22.8%	—	—	—	—
Net Margin	7.7%	—	—	—	—
EPS (Diluted)	$0.57	—	—	—	—
Free Cash Flow	$654M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$4.1B
GROSS PROFIT	$1.2B
R&D Expenses	$656M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$460M
Other Expenses	-$265M
Operating Expenses	$851M
Cost & Expenses	$4.9B
OPERATING INCOME	$350M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$83M
INCOME BEFORE TAX	$433M
Income Tax Expense	$18M
Net Income from Continuing Ops	$415M
Net Income from Discontinued Ops	$0
Other Adjustments	-$7M
NET INCOME	$408M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$408M
D&A	$1.3B
EBIT	$349M
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$4.1B
GROSS PROFIT	$1.2B
R&D Expenses	$656M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$460M
Other Expenses	-$265M
Operating Expenses	$851M
Cost & Expenses	$4.9B
OPERATING INCOME	$350M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$83M
INCOME BEFORE TAX	$433M
Income Tax Expense	$18M
Net Income from Continuing Ops	$415M
Net Income from Discontinued Ops	$0
Other Adjustments	-$7M
NET INCOME	$408M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$408M
D&A	$1.3B
EBIT	$349M
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$408M
Depreciation & Amortization	$1.3B
Stock-Based Compensation	$0
Deferred Income Tax	-$24M
Other Non-Cash Items	$26M
Change in Working Capital	$328M
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$1.4B
Acquisitions (Net)	$416M
Purchases of Investments	-$3.1B
Sales/Maturities of Investments	$2.2B
Other Investing Activities	$51M
NET CASH FROM INVESTING	-$1.8B
Net Debt Issuance	-$415M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$38M
NET CASH FROM FINANCING	$644M
FREE CASH FLOW	$654M
Net Change in Cash	$907M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$1.6B
Net Receivables	$956M
Inventory	$963M
Other Current Assets	$26M
TOTAL CURRENT ASSETS	$5.1B
PP&E (Net)	$5.9B
Goodwill	$502M
Intangible Assets	$388M
Long-Term Investments	$0
Tax Assets	$49M
Other Non-Current Assets	$293M
TOTAL NON-CURRENT ASSETS	$7.1B
TOTAL ASSETS	$12.2B
Account Payables	$854M
Short-Term Debt	$166M
Deferred Revenue	$53M
Other Current Liabilities	$123M
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$405M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$28M
Other Non-Current Liabilities	$445M
TOTAL NON-CURRENT LIABILITIES	$878M
TOTAL LIABILITIES	$2.5B
Common Stock	$75M
Additional Paid-In Capital	$6.6B
Retained Earnings	$1.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.1B
Minority Interest	$1.6B
TOTAL EQUITY	$9.7B
TOTAL LIABILITIES & EQUITY	$12.2B
Total Debt	$571M
Net Debt	-$860M