Micron Technology, Inc. Reports Results for the Fourth Quarter and Full Year of Fiscal 2021

2024-04-20 12:33:55 Business

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Bangalore, India, 6th October, 2021 -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2021, which ended Sept. 2, 2021.
Fiscal Q4 2021 highlights

Revenue of $8.27 billion versus $7.42 billion for the prior quarter and $6.06 billion for the same period last year
GAAP net income of $2.72 billion, or $2.39 per diluted share
Non-GAAP net income of $2.78 billion, or $2.42 per diluted share
Operating cash flow of $3.88 billion versus $3.56 billion for the prior quarter and $2.27 billion for the same period last year.

Fiscal 2021 highlights

Revenue of $27.71 billion versus $21.44 billion for the prior year
GAAP net income of $5.86 billion, or $5.14 per diluted share
Non-GAAP net income of $6.98 billion, or $6.06 per diluted share
Operating cash flow of $12.47 billion versus $8.31 billion for the prior year
?Micron?s outstanding fourth quarter execution capped a year of several key milestones,? said Micron Technology President and CEO Sanjay Mehrotra. ?In fiscal 2021, we established DRAM and NAND technology leadership, drove record revenues across multiple markets, and initiated a quarterly dividend. The demand outlook for 2022 is strong, and Micron is delivering innovative solutions to our customers, fueling our long-term growth.?

About Micron Technology, Inc.

We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron? and Crucial? brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities ? from the data center to the intelligent edge and across the client and mobile user experience.