On Thursday, Shares of Micron Technology, Inc. (NASDAQ:MU), lost -1.40% to $14.77.
Micron Technology, declared results of operations for its fourth quarter and 2015 fiscal year, which ended September 3, 2015. Revenues for the fourth quarter of fiscal 2015 were $3.60 billion and were 7 percent lower contrast to the third quarter of fiscal 2015 and 15 percent lower contrast to the fourth quarter of fiscal 2014. Revenues for fiscal year 2015 were $16.19 billion and net income attributable to Micron shareholders was $2.90 billion, or $2.47 per diluted share. Cash flows from operations were $5.21 billion for fiscal year 2015.
“We are happy to report Fiscal Year 2015 results that comprise revenue of $16.2 billion, $2.72 in non-GAAP earnings per share, and $2.3 billion in dilution administration activities, counting convert retirements and share repurchases,” stated D. Mark Durcan, Chief Executive Officer. “While fourth quarter results were influenced by continued weakness in the PC sector, we believe that memory industry fundamentals remain favorable over the long term.”
- GAAP Income and Per Share Data — On a GAAP(1) basis, net income attributable to Micron shareholders for the fourth quarter of fiscal 2015 was $471 million, or $0.42 per diluted share, contrast to net income of $491 million, or $0.42 per diluted share, for the third quarter of fiscal 2015 and net income of $1.15 billion, or $0.96 per diluted share, for the fourth quarter of fiscal 2014.
- Non-GAAP Income and Per Share Data — On a non-GAAP(2) basis, net income attributable to Micron shareholders for the fourth quarter of fiscal 2015 was $399 million, or $0.37 per diluted share, contrast to net income of $620 million, or $0.54 per diluted share, for the third quarter of fiscal 2015. For a reconciliation of GAAP to non-GAAP results, see the accompanying financial tables and footnotes.
Revenues for the fourth quarter of fiscal 2015 were 7 percent lower contrast to the third quarter of fiscal 2015 primarily due to a 7 percent decline in DRAM average selling prices and relatively flat DRAM sales volume. Non-Volatile trade revenues for the fourth quarter of fiscal 2015 also declined 7 percent contrast to the third quarter primarily as a result of lower sales volume. The company’s overall merged gross margin of 27 percent for the fourth quarter of fiscal 2015 was 4 percent lower contrast to the third quarter of fiscal 2015 primarily due to lower average selling prices for DRAM.
Cash flows from operations were $1.03 billion for the fourth quarter of fiscal 2015, while investments in capital expenditures were $1.85 billion. For fiscal year 2015, cash flows from operations were $5.21 billion and investments in capital expenditures were $4.12 billion. The company ended the fourth quarter of fiscal 2015 with cash and marketable investments of $5.63 billion.
Micron Technology, Inc., together with its auxiliaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems.
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