Micron Announces a Pleasant Financial Report for Q1 Fiscal 2017

Micron’s financial results for the first quarter of fiscal 2017 were quite pleasant, with revenue of $3.97 billion, which is 23% higher than the previous quarter and 19% higher than the same period of last year.

“Positive market momentum, driven by favorable demand trends and limited industry supply, produced solid results for our first quarter,” said Micron CEO Mark Durcan. “We continue to make significant progress on our key technology and product initiatives, and we are pleased to have closed the Inotera acquisition on December 6, 2016, which we expect to further improve Micron’s strategic position and financial results.”

The last quarter has witnessed 18% and 26% increases in DRAM and trade NAND sales volumes, respectively, and also a 5% increase in DRAM average selling prices. 

Investments in capital expenditures, net of amounts funded by partners, were $1.18 billion for the first quarter of fiscal 2017. The company ended the first quarter of fiscal 2017 with cash and marketable investments of $4.32 billion.

Earlier this month Micron acquired Inotera Memories of Taiwan, representing a transaction value of about $4 billion. This move will help Inotera to transfer from 30nm to 20nm technology, and also strengthen Micron’s leadership in the memory field.

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