MU Q1 2018 Earnings Report — Micron Technology, Inc. Revenue & Financial Results | Market Cap Arena

Micron Technology, Inc.MU

Q1 2018 Earnings

Reported December 20, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$6.8B	$6.1B	$4.0B	10.8%	71.4%
Op. Income	$3.1B	$2.5B	$359M	23.8%	762.7%
Gross Margin	55.1%	50.7%	25.5%	4.4pp	29.6pp
Net Margin	39.4%	38.6%	4.5%	0.8pp	34.8pp
EPS (Diluted)	$2.19	$1.99	$0.16	10.1%	1268.7%
Free Cash Flow	$1.5B	$1.7B	-$150M	-7.9%	1131.3%

Revenue Flow

Item	Amount
REVENUE	$6.8B
Cost of Revenue	$3.1B
GROSS PROFIT	$3.7B
R&D Expenses	$504M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$191M
Other Expenses	-$45M
Operating Expenses	$650M
Cost & Expenses	$3.7B
OPERATING INCOME	$3.1B
Interest Income	$23M
Interest Expense	$124M
Other Income/Expenses	-$305M
INCOME BEFORE TAX	$2.8B
Income Tax Expense	$114M
Net Income from Continuing Ops	$2.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.7B
D&A	$1.1B
EBIT	$3.1B
EBITDA	$4.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.8B
Cost of Revenue	$3.1B
GROSS PROFIT	$3.7B
R&D Expenses	$504M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$191M
Other Expenses	-$45M
Operating Expenses	$650M
Cost & Expenses	$3.7B
OPERATING INCOME	$3.1B
Interest Income	$23M
Interest Expense	$124M
Other Income/Expenses	-$305M
INCOME BEFORE TAX	$2.8B
Income Tax Expense	$114M
Net Income from Continuing Ops	$2.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.7B
D&A	$1.1B
EBIT	$3.1B
EBITDA	$4.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.7B
Depreciation & Amortization	$1.1B
Stock-Based Compensation	$51M
Deferred Income Tax	$166M
Other Non-Cash Items	$29M
Change in Working Capital	-$407M
OPERATING CASH FLOW	$3.6B
Capital Expenditure	-$2.1B
Acquisitions (Net)	-$597M
Purchases of Investments	-$203M
Sales/Maturities of Investments	$667M
Other Investing Activities	$788M
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	-$2.6B
Common Stock Repurchased	-$23M
Common Dividends Paid	$0
Other Financing Activities	$1.3B
NET CASH FROM FINANCING	-$1.3B
FREE CASH FLOW	$1.5B
Net Change in Cash	$914M

Balance Sheet

Item	Amount
Cash & Equivalents	$6.0B
Short-Term Investments	$166M
Net Receivables	$3.9B
Inventory	$3.2B
Other Current Assets	$148M
TOTAL CURRENT ASSETS	$13.4B
PP&E (Net)	$20.7B
Goodwill	$1.2B
Intangible Assets	$368M
Long-Term Investments	$314M
Tax Assets	$731M
Other Non-Current Assets	$469M
TOTAL NON-CURRENT ASSETS	$23.8B
TOTAL ASSETS	$37.2B
Account Payables	$1.2B
Short-Term Debt	$1.0B
Deferred Revenue	$614M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$5.6B
Long-Term Debt	$6.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$553M
TOTAL NON-CURRENT LIABILITIES	$8.2B
TOTAL LIABILITIES	$13.8B
Common Stock	$116M
Additional Paid-In Capital	$9.4B
Retained Earnings	$12.9B
Treasury Stock	$0
Accum. Other Comp. Income	$24M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$22.5B
Minority Interest	$867M
TOTAL EQUITY	$23.4B
TOTAL LIABILITIES & EQUITY	$37.2B
Total Debt	$9.1B
Net Debt	$3.1B