BOISE, 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 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
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GAAP
(1)
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Non-GAAP
(2)
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FQ4-21
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FQ3-21
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FQ4-20
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FQ4-21
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FQ3-21
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FQ4-20
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| 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 | |||||||||||||
