MU FY 2013 Earnings Report — Micron Technology, Inc. Revenue & Financial Results | Market Cap Arena

Micron Technology, Inc.MU

FY 2013 Earnings

Reported October 28, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$9.1B	—	$8.2B	—	10.2%
Op. Income	$450M	—	-$618M	—	172.8%
Gross Margin	20.4%	—	11.8%	—	8.6pp
Net Margin	13.1%	—	-12.5%	—	25.6pp
EPS (Diluted)	$1.13	—	$-1.04	—	208.7%
Free Cash Flow	$567M	—	$415M	—	36.6%

Revenue Flow

Item	Amount
REVENUE	$9.1B
Cost of Revenue	$7.2B
GROSS PROFIT	$1.8B
R&D Expenses	$1.1B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$513M
Other Expenses	$0
Operating Expenses	$469M
Cost & Expenses	$7.7B
OPERATING INCOME	$450M
Interest Income	$14M
Interest Expense	$231M
Other Income/Expenses	$752M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$8M
Net Income from Continuing Ops	$0
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$1.8B
EBIT	$450M
EBITDA	$2.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$9.1B
Cost of Revenue	$7.2B
GROSS PROFIT	$1.8B
R&D Expenses	$1.1B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$513M
Other Expenses	$0
Operating Expenses	$469M
Cost & Expenses	$7.7B
OPERATING INCOME	$450M
Interest Income	$14M
Interest Expense	$231M
Other Income/Expenses	$752M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$8M
Net Income from Continuing Ops	$0
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$1.8B
EBIT	$450M
EBITDA	$2.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$1.8B
Stock-Based Compensation	$91M
Deferred Income Tax	$336M
Other Non-Cash Items	-$1.3B
Change in Working Capital	-$359M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$1.2B
Acquisitions (Net)	$69M
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$705M
Other Investing Activities	-$65M
NET CASH FROM INVESTING	-$1.7B
Net Debt Issuance	$504M
Common Stock Repurchased	-$5M
Common Dividends Paid	$0
Other Financing Activities	-$177M
NET CASH FROM FINANCING	$322M
FREE CASH FLOW	$567M
Net Change in Cash	$421M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.9B
Short-Term Investments	$221M
Net Receivables	$2.3B
Inventory	$2.6B
Other Current Assets	$832M
TOTAL CURRENT ASSETS	$8.9B
PP&E (Net)	$7.6B
Goodwill	$0
Intangible Assets	$386M
Long-Term Investments	$895M
Tax Assets	$861M
Other Non-Current Assets	$439M
TOTAL NON-CURRENT ASSETS	$10.2B
TOTAL ASSETS	$19.1B
Account Payables	$1.4B
Short-Term Debt	$1.2B
Deferred Revenue	$383M
Other Current Liabilities	$182M
TOTAL CURRENT LIABILITIES	$4.1B
Long-Term Debt	$3.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$535M
TOTAL NON-CURRENT LIABILITIES	$5.0B
TOTAL LIABILITIES	$9.1B
Common Stock	$104M
Additional Paid-In Capital	$9.2B
Retained Earnings	-$212M
Treasury Stock	$0
Accum. Other Comp. Income	$63M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.1B
Minority Interest	$864M
TOTAL EQUITY	$10.0B
TOTAL LIABILITIES & EQUITY	$19.1B
Total Debt	$6.0B
Net Debt	$3.2B