Micron Technology (MU) Tops Q4 EPS by 4c; Issues Light Q1 Outlook
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Revenue Growth %: +74.9%
Financial Fact:
Operating income: -32M
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(Updated - October 1, 2015 4:58 PM EDT)
(Updated - October 1, 2015 4:15 PM EDT)
(Second Update updates revenue outlook range, which was lower than previously stated by the company.)
Micron Technology (NASDAQ: MU) reported Q4 EPS of $0.37, $0.04 better than the analyst estimate of $0.33. Revenue for the quarter came in at $3.6 billion versus the consensus estimate of $3.56 billion.
"We are pleased to report Fiscal Year 2015 results that include revenue of $16.2 billion, $2.72 in non-GAAP earnings per share, and $2.3 billion in dilution management activities, including convert retirements and share repurchases," stated D. Mark Durcan, Chief Executive Officer. "While fourth quarter results were impacted by continued weakness in the PC sector, we believe that memory industry fundamentals remain favorable over the long term."
Revenues for the fourth quarter of fiscal 2015 were 7 percent lower compared 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 compared to the third quarter primarily as a result of lower sales volume. The company's overall consolidated gross margin of 27 percent for the fourth quarter of fiscal 2015 was 4 percent lower compared to the third quarter of fiscal 2015 primarily due to lower average selling prices for DRAM.
Guidance:
Micron sees Q1 adjusted EPS of $0.20 - $0.26 and revenue of $3.35 - $3.60 billion, versus consensus estimates calling for EPS of $0.38 and revenue of $3.74 billion.
The company also sees gross margin at 24.5 - 27.0 percent.
For earnings history and earnings-related data on Micron Technology (MU) click here.
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