On Wednesday, Micron Technology, Inc. (NASDAQ:MU)’s shares declined -2.13% to $14.30.
Micron Technology, Inc., (MU) declared results of operations for its first quarter of fiscal 2016, which ended December 3, 2015. Revenues for the first quarter of fiscal 2016 were $3.35 billion and were 7 percent lower contrast to the fourth quarter of fiscal 2015 and 27 percent lower contrast to the first quarter of fiscal 2015. Cash flows from operations were $1.12 billion for the first quarter of fiscal 2016.
GAAP Income and Per Share Data – On a GAAP(1) basis, net income attributable to Micron shareholders for the first quarter of fiscal 2016 was $206 million, or $0.19 per diluted share, contrast to net income of $471 million, or $0.42 per diluted share, for the fourth quarter of fiscal 2015.
Non-GAAP Income and Per Share Data – On a non-GAAP(2) basis, net income attributable to Micron shareholders for the first quarter of fiscal 2016 was $249 million, or $0.24 per diluted share, contrast to net income of $399 million, or $0.37 per diluted share, for the fourth quarter of fiscal 2015. For a reconciliation of GAAP to non-GAAP results, see the accompanying financial tables and footnotes.
Revenues for the first quarter of fiscal 2016 were lower contrast to the fourth quarter of fiscal 2015 primarily due to a 13 percent decline in DRAM average selling prices. Non-Volatile trade revenues for the first quarter of fiscal 2016 declined 2 percent contrast to the fourth quarter primarily as a result of a 7 percent decline in average selling prices partially offset by an enhance in sales volume. The company’s overall merged gross margin of 25 percent for the first quarter of fiscal 2016 was 2 percent lower contrast to the fourth quarter of fiscal 2015 primarily due to lower average selling prices partially offset by manufacturing cost reductions for DRAM and Non-Volatile products.
“While conditions in some market segments are challenging, we believe long-term industry fundamentals are healthy, and we remain focused on the deployment of our advanced DRAM and 3D NAND technologies and products,” said Micron CEO Mark Durcan.
Micron Technology, Inc. provides semiconductor systems worldwide. It operates in four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit.
Devon Energy Corp (NYSE:DVN)’s shares gained 11.30% to $33.20. With its recent share price change, DVN market value has reached roughly $12.26 billion. Its most recent quarter balance sheet showed the company is standing at a 1.20 current ratio and possess -1.03 as debt to equity ratio. The company has a Profit Margin (ttm) of negative -63.60% and has 86.20% gross margins. The operating profit margin is -91.60%. The stock’s performance in 1 month is -25.60% and its volatility for the same period is 6.78%.
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs) in the United States and Canada. It holds interests in various properties located in Anadarko Basin, Barnett Shale, Eagle Ford, Mississippian-Woodford Trend, Permian Basin, and Rockies in the United States, in addition to in the Jackfish and Pike heavy oil projects located in Alberta, Canada.
Reynolds American, Inc. (NYSE:RAI)‘s shares surged 1.24% to $46.47.
The last trading range of Reynolds American Inc. (RAI) has declared the following: “Reynolds American Inc. declares expiration of registered Exchange Offers.”
Go to RAI’s website, www.reynoldsamerican.com, to read the full release.
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Reynolds American Inc., through its auxiliaries, manufactures and sells cigarettes and other tobacco products in the United States. It operates through RJR Tobacco, American Snuff, and Santa Fe segments. The RJR Tobacco segment offers cigarettes under the brand names of CAMEL, PALL MALL, WINSTON, KOOL, DORAL, SALEM, MISTY, and CAPRI; and CAMEL Snus, a smoke-free tobacco product, in addition to manages various licensed brands, counting DUNHILL and STATE EXPRESS 555.
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