Micron Technology, Inc., Reports Results for the Fourth Quarter and 2016 Fiscal Year

The company's management excludes the following items in analyzing the company's operating results and understanding trends in the company's earnings:

  • Restructure and asset impairments, including charges to impair equity method investments;
  • Amortization of debt discount and other costs, including the accretion of non-cash interest expense associated with the company's convertible debt and the MMJ installment debt;
  • (Gain) loss from changes in currency exchange rates;
  • (Gain) loss from business acquisition activities;
  • The estimated tax effects of above items; 
  • Non-cash changes in net deferred income taxes; and
  • Non-cash taxes resulting from business acquisition activities.

The company's outstanding capped call transactions are anti-dilutive in GAAP earnings per share but are expected to mitigate the dilutive effect of the company's convertible notes. In periods with non-GAAP income attributable to Micron, non-GAAP diluted shares include the impact of the capped calls, based on the average share price for the period that the capped calls are outstanding. In addition, in periods with a GAAP loss and non-GAAP income, non-GAAP diluted shares also includes the dilutive effect of equity plans and convertible notes as such amounts were not included in the corresponding determination of GAAP diluted shares.

 

Contacts:	Ivan Donaldson
Investor Relations
idonaldson@micron.com
(208) 368-4093

David Oro
Media Relations
davidoro@micron.com
(208) 368-5584

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