Micron Technology, Inc. (MU) Tops Q3 EPS by 9c

Micron Technology, Inc. (NASDAQ: MU) reported Q3 EPS of $0.79, $0.09 better than the analyst estimate of $0.70. Revenue for the quarter came in at $3.98 billion versus the consensus estimate of $3.89 billion.

Revenues for both DRAM and NAND Flash products were down slightly for the third quarter of fiscal 2014 compared to the second quarter of fiscal 2014. The company’s overall consolidated gross margin of 34 percent for the third quarter of fiscal 2014 was consistent with the second quarter of fiscal 2014, as mix-related decreases in average selling prices were essentially offset by corresponding decreases in manufacturing costs.

Cash flows from operations for the third quarter of fiscal 2014 were $1.46 billion, while investments in capital expenditures were $576 million. The company ended the third fiscal quarter of fiscal 2014 with cash and marketable investments of $4.81 billion.

For earnings history and earnings-related data on Micron Technology, Inc. (MU) click here.

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