14 DAY TRIAL // Micron issued the periodic update on its financial situation and it seems that the company has quite a few things to brag about, considering that it scored a solid revenue growth and a record sum in cash flows from operations.
The 2010 fiscal year, for Micron at least, has now concluded and the company was quite proud to announce that it scored total revenues of $2.5 billion.
Micron was also quite satisfied with achieving a record $1.1 billion in cash flows from operations, as well as a net income of $342 million.
"We reached several new company milestones in fiscal 2010, including generating the highest annual revenue, income and operating cash flows in Micron's history,” said Steve Appleton, Micron Chairman and CEO.
“We have emerged from the difficult economic conditions over the past few years as an industry leader with one of the strongest balance sheets and product portfolios in the business," Appleton added.
All in all, the results for the fourth quarter of Fiscal Year 2010 were most promising, even though not all of Micron's business outlets performed flawlessly.
The DRAM and NAND Flash segments were the ones that actually yielded lower revenue because not only did the average selling prices drop, but even orders were weak.
To be more specific, unit sales dropped by 12 percent for DRAM, enabling a 14 percent revenue drop, while NAND revenue dropped by 9 percent compared to Q3, the unit sales volume having slid down 7 percent.
As for the gross margin, it was of 37 percent, for the memory segment that is, less than the 40 percent of Q3, again because of the drop in ASP.
Still, the overall marketing performance during fiscal year 2010 enabled Micron to report total revenues of $8.48 billion, which actually implies a massive jump of 76 percent over FY 2009.