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© micron Components | March 24, 2017

Micron reports on 58% revenue increase YoY

Revenues for the second quarter of fiscal 2017 stood at USD 4.65 billion for Micron Technologyes; and 17 percent higher sequentially and 58 percent higher compared to the second quarter of fiscal 2016.
"Strong demand and limited industry supply for NAND and DRAM solutions, combined with significant progress on our cost
reduction plan, produced excellent results for our second quarter," said Micron CEO Mark Durcan. "I'm proud of the team's
execution on critical technology and operational initiatives, which will allow us to continue to capitalize on market trends."

On a GAAP basis, gross margin was 36.7 percent and net income attributable to Micron shareholders was USD 894 million for the second quarter of fiscal 2017 compared to gross margin of 25.5 percent and net income of USD 180 millionfor the first quarter of fiscal 2017 and gross margin of 19.7 percent and a net loss of USD 97 million for the second quarter of fiscal
2016.

The increase in the company's revenues of 17 percent for the second quarter of fiscal 2017 compared to the first quarter of
fiscal 2017 was due primarily to a 21 percent increase in DRAM average selling prices and an 18 percent increase in trade
NAND sales volumes. The company's overall consolidated GAAP gross margin of 36.7 percent for the second quarter of
fiscal 2017 was 11.2 percentage points higher compared to the first quarter of fiscal 2017 primarily due to increases in
DRAM average selling prices and manufacturing cost reductions for both NAND and DRAM.
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December 13 2018 1:08 pm V11.10.14-2