Micron Technology (MU) FY2012 results: revenue $8.2 billion, down 6.3% on the year
Micron Technology Inc. (MU) reported revenue of $8.2 billion for fiscal 2012, the year ended 30 August 2012, down 6.3% on the year before. Net income was -$1.0 billion, and diluted earnings per share $-1.04. The figures are the company's own, from the 10-K it filed with the SEC on 29 October 2012.
Revenue
$8.2 billion
-6.3% on the year
FY2009FY2012
Operating margin
-7.4%
8.7% a year earlier
FY2009FY2012
Net income
-$1.0 billion
FY2009FY2012
Diluted EPS
-$1.04
FY2009FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
8,234
8,788
8,482
-6.3%
Cost of revenue
7,266
7,030
5,768
+3.4%
Gross profit
968
1,758
2,714
-44.9%
Gross margin
11.8%
20.0%
32.0%
Research and development
918
791
624
+16.1%
Selling, general and administrative
620
592
528
+4.7%
Operating income
-612
761
1,589
Operating margin
-7.4%
8.7%
18.7%
Interest expense
179
124
178
+44.4%
Pre-tax income
-754
551
1,920
Income tax
-17.0
203
-19.0
Effective tax rate
n/a
36.8%
-1.0%
Net income
-1,032
167
1,850
Net margin
-12.5%
1.9%
21.8%
Diluted EPS
-$1.04
$0.17
$1.85
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
2,114
2,484
3,096
-14.9%
Capital expenditure
1,699
2,550
616
-33.4%
Free cash flow
415
-66.0
2,480
Free cash flow margin
5.0%
-0.8%
29.2%
Cash from investing
-2,312
-2,042
-448
Cash from financing
497
-1,195
-1,220
Depreciation and amortisation
2,222
2,162
1,922
+2.8%
Share-based compensation
87.0
76.0
93.0
+14.5%
Buybacks
6.0
163
21.0
-96.3%
Diluted shares, weighted
991m
1,008m
1,051m
-1.6%
Shares outstanding at period end
1,018m
984m
994m
+3.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
7,700
8,470
8,020
-9.1%
Non-controlling interest
717
1,382
1,796
-48.1%
Debt
3,262
2,001
2,360
+63.0%
Other liabilities
2,649
2,899
2,517
-8.6%
Total liabilities and equity
14,328
14,752
14,693
-2.9%
Fixed assets
7,103
7,555
6,601
-6.0%
Intangible assets
371
414
323
-10.4%
Investments
474
52.0
n/a
+811.5%
Cash and equivalents
2,459
2,160
2,913
+13.8%
Receivables
933
1,105
1,238
-15.6%
Inventory
1,812
2,080
1,770
-12.9%
Other assets
1,176
1,386
1,848
-15.2%
Total assets
14,328
14,752
14,693
-2.9%
10-K for the year ended 30 August 2012, filed 29 October 2012: the filing.