Micron Technology (MU) Reports Q4 Loss of $0.05/Share

Micron Technology (NASDAQ: MU) reported Q4 EPS of ($0.05), versus ($0.08) reported last year. Revenue for the quarter came in at $3.22 billion, versus $2.9 billion reported last year.

"We are seeing improving market conditions in terms of both slowing supply growth and improving demand across a number of key segments," said Micron CEO Mark Durcan. "In addition, we continue to execute on our key initiatives related to the deployment of advanced technologies and products to advantage our customers."

Revenues for the fourth quarter of fiscal 2016 were 11 percent higher compared to the third quarter of fiscal 2016. DRAM sales volumes were up approximately 20 percent, while NAND sales volumes were up approximately 12 percent. DRAM average selling prices declined approximately 6 percent, while NAND average selling prices were relatively unchanged. The company's overall consolidated gross margin of 18 percent for the fourth quarter of fiscal 2016 was slightly higher compared to the third quarter due to increases in gross margin of DRAM products.

Investments in capital expenditures, net of amounts funded by partners, were $1.69 billion for the fourth quarter of fiscal 2016 and $5.40 billion for the full fiscal year. The company ended the fourth quarter of fiscal 2016 with cash and marketable investments of $4.81 billion.

Guidance:

Micron Technology sees Q117 revenue of $3.55 - $3.85 billion, gross margin of 23% - 25.5%, and EPS of $0.13 - $0.21.

The Street sees Q1 revenue of $3.48 billion and EPS of $0.12.

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

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