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© adam121 dreamstime.com Business | October 02, 2015

Micron's Q4 revenues dropped 15% YoY

Micron ended its fiscal year 2015 with a disappointing forth quarter – revenues were USD 3.60 billion, which is 7% lower than Q315 and 15% lower compared to Q414.
Revenues for fiscal year 2015 were USD 16.19 billion and net income attributable to Micron shareholders was USD 2.90 billion. Cash flows from operations were USD 5.21 billion for fiscal year 2015.

"We are pleased to report Fiscal Year 2015 results that include revenue of USD 16.2 billion, USD 2.72 in non-GAAP earnings per share, and USD 2.3 billion in dilution management activities, including convert retirements and share repurchases," stated D. Mark Durcan, Chief Executive Officer. "While fourth quarter results were impacted by continued weakness in the PC sector, we believe that memory industry fundamentals remain favorable over the long term."

Revenues for the fourth quarter of fiscal 2015 were 7% lower compared to the third quarter of fiscal 2015 primarily due to a 7% decline in DRAM average selling prices and relatively flat DRAM sales volume. Non-Volatile trade revenues for the fourth quarter of fiscal 2015 also declined 7% compared to the third quarter primarily as a result of lower sales volume. The company's overall consolidated gross margin of 27% for the fourth quarter of fiscal 2015 was 4% lower compared to the third quarter of fiscal 2015 primarily due to lower average selling prices for DRAM.
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