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Micron Micron Technology , Inc. Reports Results for the Third Quarter of Fiscal 2021 June 30 , 2021 Strong execution drives robust free cash flow BOISE , Idaho , June 30 , 2021 ( GLOBE NEWSWIRE ) -- Micron Technology , Inc. ( Nasdaq : MU ) today announced results for its third quarter of fiscal 2021 , which ended June 3 , 2021 . Fiscal Q3 2021 highlights • Revenue of $ 7.42 billion versus $ 6.24 billion for the prior quarter and $ 5.44 billion for the same period last year • GAAP net income of $ 1.74 billion , or $ 1.52 per diluted share • Non - GAAP net income of $ 2.17 billion , or $ 1.88 per diluted share Operating cash flow of $ 3.56 billion versus $ 3.06 billion for the prior quarter and $ 2.02 billion for the same period last year " Micron set multiple market and product revenue records in our third quarter and achieved the largest sequential earnings improvement in our history , " said Micron Technology President and CEO Sanjay Mehrotra . " Our industry - leading 1a DRAM and 176 - layer NAND now represent a meaningful portion of our production , and Micron is in the best position ever to capitalize on the long - term demand trends across the data center , intelligent edge and user devices . " Quarterly Financial Results ( in millions , except per share amounts ) Revenue Gross margin percent of revenue Operating expenses Operating income percent of revenue Net income attributable to Micron Diluted earnings per share FQ4-21 Revenue Gross margin Operating expenses Diluted earnings per share $ FQ3-21 7,422 3,126 Investor Webcast 42.1 % 1,327 1,799 24.2 % 1,735 1.52 GAAP ( 1 ) FQ2-21 6,236 $ 1,649 26.4 % 986 663 10.6 % 603 0.53 $ FQ3-20 5,438 $ 1,763 32.4 % 875 888 16.3 % 803 0.71 FQ3-21 7,422 3,185 GAAP ( 1 ) Outlook $ 8.2 billion $ 200 million 46.0 % + 1 % $ 955 million + $ 25 million $ 2.23 $ 0.10 42.9 % 821 2,364 31.9 % 2,173 1.88 Non - GAAP ( 2 ) FQ2-21 $ 6,236 $ 2,054 32.9 % 797 1,257 20.2 % 1,128 0.98 FQ3-20 Investments in capital expenditures , net ( 2 ) were $ 2.04 billion for the third quarter of 2021 , which resulted in adjusted free cash flows ( 2 ) of $ 1.52 billion . Micron ended the quarter with cash , marketable investments , and restricted cash of $ 9.82 billion , for a net cash ( 2 ) position of $ 3.10 billion . Business Outlook The following table presents Micron's guidance for the fourth quarter of 2021 : Further information regarding Micron's business outlook is included in the prepared remarks and slides , which have been posted at investors.micron.com . 5,438 1,804 33.2 % 823 981 18.0 % 941 0.82 Non - GAAP ( 2 ) Outlook $ 8.2 billion $ 200 million 47.0 % + 1 % $ 900 million $ 25 million $ 2.30 + $ 0.10 Micron will host a conference call on Wednesday , June 30 , 2021 , at 2:30 p.m. MT , to discuss its third quarter financial results and provide forward looking guidance for its fourth quarter . A live webcast of the call will be available online at investors.micron.com . A webcast replay will be available for one year after the call . For Investor Relations and other company updates , follow @MicronTech on Twitter at twitter.com/Micron Tech . About Micron Technology , Inc. We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all . With a relentless focus on our customers , technology leadership , and manufacturing and operational excellence , Micron delivers a rich portfolio of high - performance DRAM , NAND , and NOR memory and storage products through our Micron®Ⓡ and Crucial® brands . Every day , the innovations that our people create fuel the data economy , enabling advances in artificial intelligence and 5G applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience . To learn more about Micron Technology , Inc. ( Nasdaq : MU ) , visit micron.com . © 2021 Micron Technology , Inc. All rights reserved . Micron , the Micron logo , and all other Micron trademarks are the property of Micron Technology ,