MU Q1 2019 Earnings Report — Micron Technology, Inc. Revenue & Financial Results | Market Cap Arena

Micron Technology, Inc.MU

Q1 2019 Earnings

Reported December 19, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$7.9B	$8.4B	$6.8B	-6.2%	16.3%
Op. Income	$3.8B	$4.4B	$3.1B	-14.1%	21.4%
Gross Margin	58.3%	61.0%	55.1%	-2.7pp	3.2pp
Net Margin	41.6%	51.2%	39.4%	-9.6pp	2.3pp
EPS (Diluted)	$2.81	$3.56	$2.19	-21.1%	28.3%
Free Cash Flow	$2.1B	$2.9B	$1.5B	-27.1%	35.1%

Revenue Flow

Item	Amount
REVENUE	$7.9B
Cost of Revenue	$3.3B
GROSS PROFIT	$4.6B
R&D Expenses	$641M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$209M
Other Expenses	$6M
Operating Expenses	$856M
Cost & Expenses	$4.2B
OPERATING INCOME	$3.8B
Interest Income	$38M
Interest Expense	$33M
Other Income/Expenses	$14M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$477M
Net Income from Continuing Ops	$3.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.3B
D&A	$1.3B
EBIT	$3.8B
EBITDA	$5.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$7.9B
Cost of Revenue	$3.3B
GROSS PROFIT	$4.6B
R&D Expenses	$641M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$209M
Other Expenses	$6M
Operating Expenses	$856M
Cost & Expenses	$4.2B
OPERATING INCOME	$3.8B
Interest Income	$38M
Interest Expense	$33M
Other Income/Expenses	$14M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$477M
Net Income from Continuing Ops	$3.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.3B
D&A	$1.3B
EBIT	$3.8B
EBITDA	$5.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$3.3B
Depreciation & Amortization	$1.4B
Stock-Based Compensation	$61M
Deferred Income Tax	-$32M
Other Non-Cash Items	$210M
Change in Working Capital	-$78M
OPERATING CASH FLOW	$4.8B
Capital Expenditure	-$2.7B
Acquisitions (Net)	$1.9B
Purchases of Investments	-$2.0B
Sales/Maturities of Investments	$137M
Other Investing Activities	-$1.7B
NET CASH FROM INVESTING	-$4.4B
Net Debt Issuance	-$577M
Common Stock Repurchased	-$1.8B
Common Dividends Paid	$0
Other Financing Activities	-$22M
NET CASH FROM FINANCING	-$2.4B
FREE CASH FLOW	$2.1B
Net Change in Cash	-$2.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.4B
Short-Term Investments	$1.1B
Net Receivables	$5.4B
Inventory	$3.9B
Other Current Assets	$182M
TOTAL CURRENT ASSETS	$15.0B
PP&E (Net)	$24.8B
Goodwill	$1.2B
Intangible Assets	$356M
Long-Term Investments	$1.6B
Tax Assets	$842M
Other Non-Current Assets	$758M
TOTAL NON-CURRENT ASSETS	$29.6B
TOTAL ASSETS	$44.6B
Account Payables	$1.7B
Short-Term Debt	$109M
Deferred Revenue	$0
Other Current Liabilities	$591M
TOTAL CURRENT LIABILITIES	$5.2B
Long-Term Debt	$3.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$931M
TOTAL NON-CURRENT LIABILITIES	$4.7B
TOTAL LIABILITIES	$9.9B
Common Stock	$117M
Additional Paid-In Capital	$8.3B
Retained Earnings	$27.8B
Treasury Stock	-$2.4B
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$33.9B
Minority Interest	$870M
TOTAL EQUITY	$34.7B
TOTAL LIABILITIES & EQUITY	$44.6B
Total Debt	$4.1B
Net Debt	-$313M