Press release
Micron Technology, Inc. Reports Results for the Fourth Quarter and Full Year of Fiscal 2019
Micron enters fiscal 2020 with strengthened product portfolio, supported by solid Q4 and fiscal 2019 execution and performance BOISE, Idaho, Sept. 26, 2019
About this update from Micron Technology, Inc.
[{"type":"text","content":"Micron enters fiscal 2020 with strengthened product portfolio, supported by solid Q4 and fiscal 2019 execution and performance\nBOISE, Idaho, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2019, which ended August 29, 2019.\n Fiscal Q4 2019 highlights Revenues of $4.87 billion versus $4.79 billion for the prior quarter and $8.44 billion for the same period last yearGAAP net income of $561 million, or $0.49 per diluted shareNon-GAAP net income of $637 million, or $0.56 per diluted shareOperating cash flow of $2.23 billion versus $2.71 billion for the prior quarter and $5.16 billion for the same period last year Fiscal 2019 highlights Revenues of $23.41 billion versus $30.39 billion for the prior fiscal yearGAAP net income of $6.31 billion, or $5.51 per diluted shareNon-GAAP net income of $7.31 billion, or $6.35 per diluted shareOperating cash flow of $13.19 billion versus $17.40 billion for the prior fiscal yearShare repurchases of $2.66 billion under the authorized buyback program \"Micron delivered fourth quarter results ahead of expectations, capping a fiscal 2019 in which we executed well in a challenging environment, significantly improved our competitive position, and returned cash to shareholders through share repurchases,\" said Micron Technology President and CEO Sanjay Mehrotra. \"We are encouraged by signs of improving industry demand, but are mindful of continued near-term macroeconomic and trade uncertainties. As markets recover, Micron is well positioned to address the robust secular demand for memory and storage solutions.\" Quarterly Financial Results(in millions, except per share amounts)GAAP (1) Non-GAAP (2)FQ4-19FQ3-19FQ4-18 FQ4-19FQ3-19FQ4-18Revenue$4,870 $4,788 $8,440 $4,870 $4,788 $8,440 Gross margin$1,395 $1,828 $5,151 $1,491 $1,884 $5,179 percent of revenue28.6% 38.2% 61.0% 30.6% 39.3% 61.4% Operating expenses$745 $818 $774 $797 $774 $740 Operating income$650 $1,010 $4,377 $694 $1,110 $4,439 percent of revenue13.3% 21.1% 51.9% 14.3% 23.2% 52.6% Net income attributable to Micron$561 $840 $4,325 $637 $1,198 $4,313 Diluted earnings per share$0.49 $0.74 $3.56 $0.56 $1.05 $3.53 Annual Financial Results(in millions, except per share amounts)GAAP (1) Non-GAAP (2)FY 19FY 18 FY 19FY 18Revenue $23,406 $30,391 $23,406 $30,...