Micron Updates Second Quarter Fiscal 2021 Guidance

BOISE, Idaho, March 03, 2021 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) (the “Company”), today announced that it is increasing its revenue, gross margin, and EPS guidance for the second quarter of fiscal 2021, which ends March 4, 2021, as set forth in the tables below.

Micron Senior Vice President and Chief Financial Officer David Zinsner will share further updates in a fireside chat at the Morgan Stanley Technology, Media & Telecom Virtual Conference scheduled to take place at 8:45 a.m. Pacific time on March 3, 2021. The live webcast and subsequent replay of the event can be accessed from Micron’s Investor Relations website at investors.micron.com.

  Previous Guidance  Updated Guidance
  GAAP Outlook  Adjustments  Non-GAAP Outlook  GAAP Outlook  Adjustments  Non-GAAP Outlook
              
Revenue$5.6 bn - $6.0 bn 
   $5.6 bn - $6.0 bn $6.20 bn - $6.25 bn  
   $6.20 bn - $6.25 bn
Gross margin24.0% - 26.0%  6% A 30.0% - 32.0% 26.0% - 27.0%  6% A 32.0% - 33.0%
Diluted earnings per share(1)$0.34 - $0.48  $0.34 A,B,C,D $0.68 - $0.82 $0.51 - $0.56  $0.42 A,B,C,D $0.93 - $0.98


Non-GAAP Adjustments
(in millions)
  Previous Guidance Updated Guidance
     
AInventory accounting policy change to FIFO – cost of goods sold $135  $ 133  
A Change in inventory cost absorption – cost of goods sold   165     160  
A Stock-based compensation – cost of goods sold   54     54  
A Other – cost of goods sold   7     7  
B Stock-based compensation – research and development   30     30  
B Stock-based compensation – sales, general, and administrative   27     27  
B Patent settlement – other operating (income) expense, net       128  
C Amortization of debt discount and other costs   2     2  
D Tax effects of the above items and non-cash changes in net deferred income taxes   (27 )   (58 )
      $ 393     $ 483  

1 | 2  Next Page »
Featured Video
Jobs
Design Verification Engineer for Blockwork IT at Milpitas, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
CAD Engineer for Nvidia at Santa Clara, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Upcoming Events
Phil Kaufman Award Ceremony and Banquet to be held November 6 at Hayes Mansion at Hayes Mansion 200 Edenvale Ave San Jose CA - Nov 6, 2024
SEMICON Europa 2024 at Messe München München Germany - Nov 12 - 15, 2024
DVCon Europe 2023 at Holiday Inn Munich – City Centre Munich Germany - Nov 14 - 15, 2024
SEMI MEMS & Imaging Sensors Summit, at International Conference Center Munich Germany - Nov 14, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise