Exhibit 99.1
FOR IMMEDIATE RELEASE

Contacts:
Shanye Hudson
David Oro
 
Investor Relations
Media Relations
 
shudson@micron.com
davidoro@micron.com
 
(208) 492-1205
(707) 558-8585

MICRON TECHNOLOGY, INC., REPORTS RESULTS FOR THE
SECOND QUARTER OF FISCAL 2018

Record revenue and profitability supported by solid execution and
broad demand for Micron’s products

BOISE, Idaho, March 22, 2018 – Micron Technology, Inc., (NASDAQ: MU) today announced results of operations for its second quarter of fiscal 2018, which ended March 1, 2018.

Fiscal Q2 2018 Highlights
Revenues of $7.35 billion, up 58 percent compared with the same period last year
GAAP net income of $3.31 billion, or $2.67 per diluted share
Non-GAAP net income of $3.50 billion, or $2.82 per diluted share
Operating cash flow of $4.35 billion, compared with $1.77 billion for the same period last year (adjusted for the Inotera acquisition)

"Micron executed exceptionally well in the second quarter, delivering record results and strong free cash flow driven by broad-based demand for our memory and storage solutions. Our performance was accentuated by an ongoing shift to high-value solutions as we grew sales to our cloud, mobile and automotive customers and set new records for SSDs and graphics memory," said Micron President and CEO Sanjay Mehrotra. "Secular technology trends are driving robust demand for memory and storage, and Micron is well-positioned to address these growing opportunities."

Quarterly Financial Results
(in millions except per share amounts)
GAAP (1)
 
Non-GAAP (2)
FQ2-18
FQ1-18
FQ2-17
 
FQ2-18
FQ1-18
FQ2-17
Net sales
$
7,351
 
$
6,803
 
$
4,648
 
 
$
7,351
 
$
6,803
 
$
4,648
 
Gross margin
$
4,270
 
$
3,747
 
$
1,704
 
 
$
4,296
 
$
3,769
 
$
1,789
 
percent of net sales
58.1
%
 
55.1
%
 
36.7
%
 
 
58.4
%
 
55.4
%
 
38.5
%
 
Operating income
$
3,567
 
$
3,097
 
$
1,044
 
 
$
3,630
 
$
3,157
 
$
1,177
 
percent of net sales
48.5
%
 
45.5
%
 
22.5
%
 
 
49.4
%
 
46.4
%
 
25.3
%
 
Net income attributable to Micron
$
3,309
 
$
2,678
 
$
894
 
 
$
3,495
 
$
2,994
 
$
1,031
 
Diluted earnings per share
$
2.67
 
$
2.19
 
$
0.77
 
 
$
2.82
 
$
2.45
 
$
0.90
 

Revenues for the second quarter of 2018 were 8 percent higher compared to the first quarter of 2018, reflecting increased demand broadly across our products and end markets. Our overall consolidated gross margin of 58.1 percent for the second quarter of 2018 was higher compared to 55.1 percent for the first quarter of 2018 primarily due to execution across our product portfolio.




The following information was filed by Micron Technology Inc (MU) on Thursday, March 22, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Micron Technology Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Micron Technology Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account