Micron Technology, Inc., Reports Results for The Fourth Quarter and Full Year of 2017


  Year Ended  Year Ended
  August 31, 2017  September 1, 2016
  GAAP Adj Non-GAAP  GAAP Adj Non-GAAP
Net sales$20,322 $ $20,322  $12,399 $ $12,399 
Cost of goods sold11,886 (203)11,683  9,894 (87)9,807 
Gross margin8,436 203 8,639  2,505 87 2,592 
percent of revenue41.5%  42.5%  20.2%  20.9% 
            
Selling, general, and administrative743 (88)655  659 (69)590 
Research and development1,824 (55)1,769  1,617 (59)1,558 
Restructure and asset impairments18 (18)  67 (67) 
Other operating (income) expense, net(17) (17) (6) (6)
Operating expenses2,568 (161)2,407  2,337 (195)2,142 
Operating income (loss)5,868 364 6,232  168 282 450 
percent of revenue28.9%  30.7%  1.4%  3.6% 
            
Interest income (expense), net(560)125 (435) (395)126 (269)
Other non-operating income (expense), net(112)112   (54) 23   (31 )
  5,196   601   5,797     (281 ) 431   150  
               
Income tax (provision) benefit (114 ) (59 ) (173 )   (19 ) 85   66  
Equity in net income (loss) of equity method investees 8   17   25     25   33   58  
Net income (loss) 5,090   559   5,649     (275 ) 549   274  
               
Net income (loss) attributable to noncontrolling interests (1 )   (1 )   (1 )   (1 )
Net income (loss) attributable to Micron $ 5,089   $ 559   $ 5,648     $ (276 ) $ 549   $ 273  
               
Shares used in calculations 1,154   (14 ) 1,140     1,036   14   1,050  
Diluted earnings (loss) per share $ 4.41   $ 0.55   $ 4.96     $ (0.27 ) $ 0.53   $ 0.26  



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