DRAM portfolio strengthened with 1z ramp; High-value NAND shipments reach record levels in FY20

BOISE, Idaho, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2020, which ended Sept. 3, 2020.

Fiscal Q4 2020 highlights

• Revenue of $6.06 billion versus $5.44 billion for the prior quarter and $4.87 billion for the same period last year
  
• GAAP net income of $988 million, or $0.87 per diluted share
  
• Non-GAAP net income of $1.23 billion, or $1.08 per diluted share
• Operating cash flow of $2.27 billion versus $2.02 billion for the prior quarter and $2.23 billion for the same period last year

Fiscal 2020 highlights

• Revenue of $21.44 billion versus $23.41 billion for the prior year
• GAAP net income of $2.69 billion, or $2.37 per diluted share
• Non-GAAP net income of $3.24 billion, or $2.83 per diluted share
• Operating cash flow of $8.31 billion versus $13.19 billion for the prior year

“Micron delivered solid fiscal fourth quarter revenue and EPS resulting from strong DRAM sales in cloud, PC and gaming consoles and an extraordinary increase in QLC NAND shipments,” said Micron Technology President and CEO Sanjay Mehrotra. “We look forward to improving market conditions throughout calendar 2021, driven by 5G, cloud and automotive growth, and we are excited by the continued momentum in our product portfolio.”