MU Q4 2017 Earnings Report — Micron Technology, Inc. Revenue & Financial Results | Market Cap Arena

Micron Technology, Inc.MU

Q4 2017 Earnings

Reported October 26, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2017	Q3 2017	Q4 2016	QoQ Change	YoY Change
Revenue	$6.1B	$5.6B	$3.2B	10.3%	90.8%
Op. Income	$2.5B	$2.0B	-$32M	27.5%	7918.8%
Gross Margin	50.7%	46.9%	18.0%	3.8pp	32.7pp
Net Margin	38.6%	29.6%	-5.3%	9.0pp	43.9pp
EPS (Diluted)	$1.99	$1.40	$-0.16	42.1%	1343.8%
Free Cash Flow	$1.7B	$1.1B	-$1.1B	47.6%	256.6%

Revenue Flow

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$3.0B
GROSS PROFIT	$3.1B
R&D Expenses	$498M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$180M
Other Expenses	-$68M
Operating Expenses	$610M
Cost & Expenses	$3.6B
OPERATING INCOME	$2.5B
Interest Income	$16M
Interest Expense	$148M
Other Income/Expenses	-$180M
INCOME BEFORE TAX	$2.3B
Income Tax Expense	-$47M
Net Income from Continuing Ops	$2.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$1.1B
EBIT	$2.5B
EBITDA	$3.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$3.0B
GROSS PROFIT	$3.1B
R&D Expenses	$498M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$180M
Other Expenses	-$68M
Operating Expenses	$610M
Cost & Expenses	$3.6B
OPERATING INCOME	$2.5B
Interest Income	$16M
Interest Expense	$148M
Other Income/Expenses	-$180M
INCOME BEFORE TAX	$2.3B
Income Tax Expense	-$47M
Net Income from Continuing Ops	$2.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$1.1B
EBIT	$2.5B
EBITDA	$3.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.4B
Depreciation & Amortization	$1.1B
Stock-Based Compensation	$57M
Deferred Income Tax	$66M
Other Non-Cash Items	-$110M
Change in Working Capital	-$277M
OPERATING CASH FLOW	$3.2B
Capital Expenditure	-$1.5B
Acquisitions (Net)	-$106M
Purchases of Investments	-$303M
Sales/Maturities of Investments	$151M
Other Investing Activities	$483M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	-$609M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$249M
NET CASH FROM FINANCING	-$858M
FREE CASH FLOW	$1.7B
Net Change in Cash	$5.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$5.1B
Short-Term Investments	$319M
Net Receivables	$3.8B
Inventory	$3.1B
Other Current Assets	$147M
TOTAL CURRENT ASSETS	$12.5B
PP&E (Net)	$19.4B
Goodwill	$1.2B
Intangible Assets	$387M
Long-Term Investments	$633M
Tax Assets	$766M
Other Non-Current Assets	$434M
TOTAL NON-CURRENT ASSETS	$22.9B
TOTAL ASSETS	$35.3B
Account Payables	$1.3B
Short-Term Debt	$905M
Deferred Revenue	$605M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$5.3B
Long-Term Debt	$9.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$639M
TOTAL NON-CURRENT LIABILITIES	$10.5B
TOTAL LIABILITIES	$15.9B
Common Stock	$112M
Additional Paid-In Capital	$8.3B
Retained Earnings	$10.3B
Treasury Stock	-$67M
Accum. Other Comp. Income	$29M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$18.6B
Minority Interest	$849M
TOTAL EQUITY	$19.5B
TOTAL LIABILITIES & EQUITY	$35.3B
Total Debt	$11.2B
Net Debt	$6.0B