Micron Technology, Inc. (NASDAQ:MU) reported that it will hold its second quarter earnings on March 22, 2018. The company also reported updated projection for its fiscal Q2 2018, closing March 1, 2018. Revenue is expected to come in between $7.20 billion and $7.35 billion versus prior projection range of between $6.80 billion and $7.20 billion. Revised guidance for earnings remains between $2.70 and $2.75 a share versus previous projection range of between $2.51 and $2.65 per share.
Sanjay Mehrotra, the CEO and President of Micron, expressed that the company continue to deploy well against their strategic priorities as they undergo their chief financial officer transition. They look forward to announcing more details in fiscal Q2 2018 earnings conference call.
In unrelated news, Micron Technology reported that the firm has engaged David Zinsner as Chief Financial Officer and Senior Vice President, effective February 19, 2018. Zinsner will report to Sanjay Mehrotra, who is the CEO and President of Micron. Ernie Maddock retires from his role of CFO and SVP at Micron, however he will remain with the firm as an adviser until early June for supporting smooth transition.
Commenting on the transition, Mehrotra expressed that on behalf of the firm, he wants to thank Maddock for his significant contributions to company. He has directed the firm for continued strong growth, and they wish him the best for his future plans. Maddock expressed that he is privileged to have been a part of company’s progress over the preceding years. His focus now is on giving his full support to Sanjay and Dave during the transition period for an effective and seamless handoff.
In the last trading session, the stock price of Micron declined 0.65% to close the day at $44.25. The decline came at a share volume of 24.35 million compared to average share volume of 41.52 million.
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