Micron Technology (MU) FY2013 results: revenue $9.1 billion, up 10.2% on the year
Micron Technology Inc. (MU) reported revenue of $9.1 billion for fiscal 2013, the year ended 29 August 2013, up 10.2% on the year before. Net income was $1.2 billion, and diluted earnings per share $1.13. The figures are the company's own, from the 10-K it filed with the SEC on 28 October 2013.
Revenue
$9.1 billion
+10.2% on the year
FY2009FY2013
Operating margin
2.6%
-7.4% a year earlier
FY2009FY2013
Net income
$1.2 billion
FY2009FY2013
Diluted EPS
$1.13
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
9,073
8,234
8,788
+10.2%
Cost of revenue
7,226
7,266
7,030
-0.6%
Gross profit
1,847
968
1,758
+90.8%
Gross margin
20.4%
11.8%
20.0%
Research and development
931
918
791
+1.4%
Selling, general and administrative
562
620
592
-9.4%
Operating income
236
-612
761
Operating margin
2.6%
-7.4%
8.7%
Interest expense
231
179
124
+29.1%
Pre-tax income
1,285
-754
551
Income tax
8.0
-17.0
203
Effective tax rate
0.6%
n/a
36.8%
Net income
1,190
-1,032
167
Net margin
13.1%
-12.5%
1.9%
Diluted EPS
$1.13
-$1.04
$0.17
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,811
2,114
2,484
-14.3%
Capital expenditure
1,442
1,699
2,550
-15.1%
Free cash flow
369
415
-66.0
-11.1%
Free cash flow margin
4.1%
5.0%
-0.8%
Cash from investing
n/a
-2,312
-2,042
Cash from financing
n/a
497
-1,195
Depreciation and amortisation
1,926
2,222
2,162
-13.3%
Share-based compensation
91.0
87.0
76.0
+4.6%
Buybacks
5.0
6.0
163
-16.7%
Diluted shares, weighted
1,056m
991m
1,008m
+6.6%
Shares outstanding at period end
1,044m
1,018m
984m
+2.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
9,142
7,700
8,470
+18.7%
Non-controlling interest
864
717
1,382
+20.5%
Debt
6,037
3,262
2,001
+85.1%
Other liabilities
3,075
2,649
2,899
+16.1%
Total liabilities and equity
19,118
14,328
14,752
+33.4%
Fixed assets
7,626
7,103
7,555
+7.4%
Intangible assets
386
371
414
+4.0%
Investments
720
474
52.0
+51.9%
Cash and equivalents
2,880
2,459
2,160
+17.1%
Receivables
2,069
933
1,105
+121.8%
Inventory
2,649
1,812
2,080
+46.2%
Other assets
2,788
1,176
1,386
+137.1%
Total assets
19,118
14,328
14,752
+33.4%
10-K for the year ended 29 August 2013, filed 28 October 2013: the filing.