01—Abstract
Summary
Summary of the 10-Q/A filed November 20, 2012. Cited figures are marked; the original filing is the authoritative source.
Micron Technology, Inc. (MU) filed an amendment to its 10-Q report for the period ending May 30, 2012, on November 19, 2012.
This amendment primarily details various exhibits, including significant agreements and corporate documents. Key among these are purchase agreements for convertible senior notes, and numerous agreements related to the IM Flash Technologies, LLC joint venture with Intel Corporation, encompassing asset purchase, operating agreements, and supply arrangements. These filings provide insight into Micron's financing activities and strategic partnerships during the period.
02—Key points
Key Highlights
- Amendment to the 10-Q filing for the period ending May 30, 2012, filed on November 19, 2012.
- Details the issuance of 2.375% Convertible Senior Notes due 2032 and 3.125% Convertible Senior Notes due 2032 through purchase agreements.
- Includes the Restated Certificate of Incorporation and amended Bylaws, indicating corporate structure updates.
- Contains multiple agreements related to the IM Flash Technologies, LLC joint venture with Intel Corporation, including asset purchase, operating, and supply agreements.
- Highlights a private agreement with Mario Licciardello for MTV.
- Confirms the filing of CEO and CFO certifications, as well as XBRL financial data.
- Some exhibit portions are marked as omitted pursuant to a request for confidential treatment, common in sensitive business dealings.
03—One dollar
Follow one dollar
For each $1.00 of revenue in Q3 FY2012, Micron Technology Inc lost $0.15.
- Revenue$2.17B100.0%
- Cost of revenue−$1.94B89.2%
- Gross profit$234.0M10.8%
- Operating costs−$422.0M19.4%
- Operating income−$188.0M8.7%
- Interest, other & tax−$132.0M6.1%
- Net income−$320.0M14.7%
04—Financials
Financial Highlights
Figures from 10-Q/AQ3 FY2012filed November 20, 2012Financial Statements
Q3 FY2012 against Q3 FY2011
| Line item | Q3 FY2012Q3 FY2011 | Change |
|---|---|---|
| Revenue | $2.17B$2.14B | +1.5% |
| Cost of Revenue | $1.94B$1.66B | +16.7% |
| Gross Profit | $234.00M$478.00M | −51.0% |
| R&D Expenses | $231.00M$211.00M | +9.5% |
| SG&A Expenses | $156.00M$151.00M | +3.3% |
| Operating Income | -$188.00M$237.00M | −179.3% |
| Interest Expense | $56.00M$28.00M | +100.0% |
| Net Income | -$320.00M$75.00M | −526.7% |
| EPS (Basic) | $-0.32$0.07 | −557.1% |
| EPS (Diluted) | $-0.32$0.07 | −557.1% |
| Shares Outstanding (Basic) | 987.30M998.90M | −1.2% |
| Shares Outstanding (Diluted) | 987.30M1.04B | −5.2% |
05—Questions
Frequently Asked Questions
What is the main purpose of this 10-Q/A filing?
This filing is an amendment to Micron Technology's previously filed 10-Q report for the period ending May 30, 2012. It primarily serves to provide updated or additional information, specifically by listing and incorporating numerous exhibits that detail important agreements, financial instruments, and corporate governance documents.
What significant financial instruments are referenced in the exhibits?
The exhibits reference the issuance of two series of Convertible Senior Notes due 2032: 2.375% Convertible Senior Notes and 3.125% Convertible Senior Notes. These were established through Indentures and related purchase agreements, indicating recent financing activities by Micron.
What is the nature of the agreements with Intel Corporation mentioned?
The exhibits list several agreements with Intel Corporation related to their joint venture, IM Flash Technologies, LLC. These include an Asset Purchase and Sale Agreement, a Second Amended and Restated Limited Liability Company Operating Agreement, various Supply Agreements, and a Deposit Agreement. These documents outline the operational and contractual framework of their collaboration in memory technology.
Are there any non-public or sensitive agreements disclosed?
Yes, the filing notes that portions of certain exhibits have been omitted pursuant to a request for confidential treatment. This is common for agreements containing proprietary business information or sensitive commercial terms.
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