Micron Technology, Inc. Reports Results for the Fourth Quarter and Full Year of Fiscal 2021

About this update from Micron Technology, Inc.

[{"type":"text","content":"Fiscal 2021 marks record year for mobile, auto and industrial markets\nBOISE, Idaho, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2021, which ended Sept. 2, 2021. Fiscal Q4 2021 highlights Revenue of $8.27 billion versus $7.42 billion for the prior quarter and $6.06 billion for the same period last yearGAAP net income of $2.72 billion, or $2.39 per diluted shareNon-GAAP net income of $2.78 billion, or $2.42 per diluted shareOperating cash flow of $3.88 billion versus $3.56 billion for the prior quarter and $2.27 billion for the same period last year Fiscal 2021 highlights Revenue of $27.71 billion versus $21.44 billion for the prior yearGAAP net income of $5.86 billion, or $5.14 per diluted shareNon-GAAP net income of $6.98 billion, or $6.06 per diluted shareOperating cash flow of $12.47 billion versus $8.31 billion for the prior year “Micron’s outstanding fourth quarter execution capped a year of several key milestones,” said Micron Technology President and CEO Sanjay Mehrotra. “In fiscal 2021, we established DRAM and NAND technology leadership, drove record revenues across multiple markets, and initiated a quarterly dividend. The demand outlook for 2022 is strong, and Micron is delivering innovative solutions to our customers, fueling our long-term growth.” Quarterly Financial Results GAAP(1) Non-GAAP(2)(in millions, except per share amounts)FQ4-21 FQ3-21 FQ4-20 FQ4-21 FQ3-21 FQ4-20 Revenue$8,274 $7,422 $6,056 $8,274 $7,422 $6,056 Gross margin 3,912 3,126 2,068 3,964 3,185 2,111 percent of revenue 47.3% 42.1% 34.1% 47.9% 42.9% 34.9%Operating expenses 957 1,327 911 891 821 809 Operating income 2,955 1,799 1,157 3,073 2,364 1,302 percent of revenue 35.7% 24.2% 19.1% 37.1% 31.9% 21.5%Net income attributable to Micron 2,720 1,735 988 2,778 2,173 1,229 Diluted earnings per share 2.39 1.52 0.87 2.42 1.88 1.08 Annual Financial Results GAAP(1) Non-GAAP(2) (in millions, except per share amounts)FY 21 FY 20 FY 21 FY 20 Revenue$27,705 $21,435 $27,705 $21,435 Gross margin 10,423 6,552 10,987 6,718 percent of revenue 37.6% 30.6% 39.7% 31.3%Operating expenses 4,140 3,549 3,320 3,299 Operating income 6,283 3,003 7,667 3,419 percent of revenue 22.7% 14.0% 27.7% 16.0%Net income attributable to Micron 5,861 2,687 6,976 3,235 Diluted earnings per sh...

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