Exhibit 99.1
FOR IMMEDIATE RELEASE
    
Contacts:Farhan AhmadErica Rodriguez Pompen
Investor RelationsMedia Relations
farhanahmad@micron.comepompen@micron.com
(408) 834-1927(408) 834-1873



MICRON TECHNOLOGY, INC. REPORTS RESULTS FOR THE
FOURTH QUARTER AND FULL YEAR OF FISCAL 2021

Fiscal 2021 marks record year for mobile, auto and industrial markets

BOISE, Idaho, Sept. 28, 2021 – 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 year
GAAP net income of $2.72 billion, or $2.39 per diluted share
Non-GAAP net income of $2.78 billion, or $2.42 per diluted share
Operating 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 year
GAAP net income of $5.86 billion, or $5.14 per diluted share
Non-GAAP net income of $6.98 billion, or $6.06 per diluted share
Operating 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
(in millions, except per share amounts)
GAAP(1)
Non-GAAP(2)
FQ4-21FQ3-21FQ4-20FQ4-21FQ3-21FQ4-20
Revenue$8,274 $7,422 $6,056 $8,274 $7,422 $6,056 
Gross margin3,912 3,126 2,068 3,964 3,185 2,111 
percent of revenue47.3 %42.1 %34.1 %47.9 %42.9 %34.9 %
Operating expenses957 1,327 911 891 821 809 
Operating income2,955 1,799 1,157 3,073 2,364 1,302 
percent of revenue35.7 %24.2 %19.1 %37.1 %31.9 %21.5 %
Net income attributable to Micron2,720 1,735 988 2,778 2,173 1,229 
Diluted earnings per share2.39 1.52 0.87 2.42 1.88 1.08 

1

The following information was filed by Micron Technology Inc (MU) on Tuesday, September 28, 2021 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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