Micron Guides Up
February 6, 2018
Technology made updated guidance for its
second quarter of fiscal 2018, ending March
For the fiscal second quarter, on a non-GAAP
basis, the company now expects:
in the range of $7.20 billion to $7.35
billion compared to prior guidance of $6.80
billion to $7.20 billion.
Earnings per share ranging between $2.70 and
$2.75 per share compared to prior guidance
of $2.51 to $2.65 per share, based on 1,241
million diluted shares.
"We continue to execute well against our
strategic priorities as we undergo our chief
financial officer transition," said Sanjay
Mehrotra, president and CEO of Micron. "We
look forward to sharing more details in our
fiscal second quarter earnings conference
Technology also appointed David Zinsner as
senior vice president and chief financial
officer, effective Feb. 19, 2018. Zinsner
succeeds Ernie Maddock, who is retiring from
Micron but will remain with the company as
an adviser through early June to ensure a
smooth transition. Zinsner will report
directly to Sanjay Mehrotra, president and
"On behalf of the company, I want to thank
Ernie for his significant contributions to
Micron," Mehrotra said. "He has helped
position the company for continued strong
growth, and we wish him the best in his
"I am fortunate to have been a part of
Micron's progress over the last few years,"
Maddock said. "My focus now is on supporting
Dave and Sanjay during the transition period
to ensure a seamless and effective handoff."
Zinsner joins Micron with over 20 years of
financial and operations experience in the
semiconductor and technology industry. He
most recently served as president and chief
operating officer at Affirmed Networks.
Prior to that, Zinsner was senior vice
president of finance and chief financial
officer for eight years at Analog Devices,
and before that, he was senior vice
president and chief financial officer for
four years at Intersil Corp.
brings a great combination of financial
expertise and executive experience to Micron
and has a strong track record of achieving
outstanding results," Mehrotra said. "We
look forward to his leadership in driving
our financial strategy and delivering
significant value to our shareholders."
"I am very excited to be joining Micron at a
time when the company is uniquely positioned
to take advantage of growing demand for
memory and storage solutions across a wide
range of industries," Zinsner said. "I look
forward to working with the Micron team to
capitalize on those trends and to take the
company to the next level."
Zinsner holds a master's degree in business
administration, finance and accounting from
Vanderbilt University and a bachelor's
degree in industrial management from
Carnegie Mellon University.