Micron Technology's (MU) Management Presents at Credit Suisse 20th Annual Technology, Media & Telecom Conference (Transcript)

Micron Technology, Inc. (NASDAQ:MU) Credit Suisse 20th Annual Technology, Media & Telecom Conference November 29, 2016 11:00 AM ET

Executives

Ernie Maddock - CFO

Analysts

John Pitzer - Credit Suisse

John Pitzer

Good morning. Why don’t we go ahead and get started. My name is John Pitzer, I cover the semiconductor sector here at Credit Suisse. It’s my pleasure this morning to introduce Ernie Maddock, the Chief Financial Officer of Micron. Ernie is going to go through a short side presentation and then we’re going to move straight into Q&A. I’ll start off the fireside-chat, but there will be a microphone throughout the room. So if you have any burning questions, please raise your hand.

And with that, I will turn things to Ernie. Thank you for joining us this morning.

Ernie Maddock

Thanks John, appreciate it. Just thought we would provide a couple of slides here, so given how much has been going on in the industry, and particularly with Micron and Inotera, so hopefully this will be useful.

I’d call your attention to our Safe Harbor statement. Relative to the business environment, we have continued to see positive trends and as a result of that positive impact on our financial performance relative to the guidance that we’ve provided. You can see here that for the first fiscal quarter of ’17, we’re expecting to be at or above the high-end of our guided range, driven predominantly by DRAM ASC improvements, so it should be no surprise given everything that’s been written about it. So, we’re not expecting revenue somewhere in the range of $3.975 billion plus or minus $50 million, and you can see that the previously referenced guidance there; so some nice upside.

We expect gross margins to be $25.5 million plus or minus 0.5%, again at the high end