LONDON, UK / ACCESSWIRE / October 6, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Micron Technology, Inc. (NASDAQ: MU), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=MU, following the Company’s release of its financial results on September 26, 2017, for the fourth quarter and fiscal 2017. The Company reported better than expected revenue and earnings. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:
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For three months ended August 31, 2017, Micron’s net revenue increased 91% to $6.14 billion from $3.22 million in Q4 FY16. Net revenue surpassed analysts’ expectations of $5.96 billion.
During FY 2017, Micron’s net revenue increased 63.8% to $20.32 billion from $12.40 billion in FY16.
During Q4 FY17, the Company’s gross profit increased 437.1% to $3.11 billion from $579 million in Q4 FY16. For the reported quarter, the Company’s gross margin increased 3,270 basis points to 50.7% of revenue from 18% of revenue in Q4 FY16. During Q4 FY17, Micron’s adjusted gross margin increased 3,270 basis points to 51.3% of revenue from 18.6% of revenue in Q4 FY16. The increase was due to a successful adoption of products based on advanced technologies and a healthy industry pricing environment.
During FY17, Micron’s gross margin increased 2,130 basis points to 41.5% of revenue from 20.2% of revenue in FY16. During FY17, Micron’s adjusted gross margin increased 2,160 basis points to 42.5% of revenue from 20.9% of revenue in FY16.
During Q4 FY17, Micron’s selling, general, and administrative (SG&A) expenses increased 22.9% to $193 million from $157 million in Q4 FY16. For the reported quarter, the Company’s depreciation and amortization (D&A) expenses increased 8.7% to $447 million from $411 million in Q4 FY16.
During Q4 FY17, Micron’s operating income was $2.50 billion compared to operating loss of $32 million in Q4 FY16. For the reported quarter, the Company’s adjusted operating margin increased 3940 basis points to 41.5% of revenue from 2.1% of revenue in Q4 FY16.
During FY 2017, Micron’s operating margin increased 2,750 basis points to 28.9% of revenue from 1.4% of revenue in FY16. During FY17, Micron’s adjusted operating margin increased 2,710 basis points to 30.7% of revenue from 3.6% of revenue in FY16.
During Q4 FY17, Micron’s net income was $2.37 billion, as compared to net loss of $170 million in Q4 FY16. For the reported quarter, the Company’s adjusted net income was $2.39 billion, as compared to adjusted net loss of $9 million in Q4 FY16. During Q4 FY17, Micron’s diluted EPS was $1.99, as compared to negative diluted EPS of $0.16 in Q4 FY16. For the reported quarter, the Company’s adjusted diluted EPS was $2.02, as compared to negative adjusted diluted EPS of $0.01 in Q4 FY16. The adjusted diluted EPS surpassed analysts’ expectation of $1.83.
During FY17, Micron’s diluted EPS was $4.41 compared to negative diluted EPS of $0.27 in FY16. During FY17, the Company’s adjusted diluted EPS was $4.96 compared to negative adjusted diluted EPS of $0.26 in Q4 FY16.
As on August 31, 2017, Micron’s cash and short-term investments increased 23.4% to $5.43 billion from $4.40 billion in Q4 FY16.
During Q4 FY17, the Company’s receivable increased 81.6% to $3.76 billion from $2.07 billion in Q4 FY16.
For the reported quarter, Micron’s inventories increased 1.9% to $3.12 billion from $3.06 billion in Q4 FY16.
For the reported quarter, the Company’s accounts payable and accrued expenses decreased 5.6% to $3.66 billion from $3.88 billion in Q4 FY16.
During Q4 FY17, Micron’s long-term debt decreased 7.8% to $9.87 billion from $9.15 billion in Q4 FY16.
During Q4 FY17, the Company’s cash provided by operating activities increased 157% to $8.15 billion from $3.17 billion in Q4 FY16.
For Q1 FY18, Micron expects revenue to be in the range of $6.1 billion to $6.5 billion and gross margin to be in the range of 50% to 54% of revenue.
The Company expects operating income to be in the range of $2.65 billion to $2.85 billion and estimates EPS to be in the range of $2.09 to $2.23 for Q1 FY18.
On Thursday, October 05, 2017, the stock closed the trading session at $39.37, marginally falling 0.48% from its previous closing price of $39.56. A total volume of 22.15 million shares have exchanged hands. Micron Technology’s stock price skyrocketed 30.36% in the last three months, 37.56% in the past six months, and 122.43% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 79.61%. The stock is trading at a PE ratio of 9.10. At Thursday’s closing price, the stock’s net capitalization stands at $42.33 billion.
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