Micron Electronics Reports a 50 Percent Increase in Revenues for the Fourth
Quarter and Sequential PC Unit Shipment Growth of 36 Percent
NAMPA, Idaho--(BUSINESS WIRE)--Sept. 26, 2000--Micron Electronics, Inc. (www.micronpc.com; Nasdaq:MUEI -
news), a leading Internet-centric computing hardware and e-services company, today announced its financial results for
the fourth quarter of fiscal 2000, ended August 31, 2000.
Revenue for the fourth quarter of fiscal 2000 was $500 million compared to $333 million for the fourth quarter of fiscal 1999. Net income for the fourth quarter of fiscal
2000 was $23 million, or $0.24 per diluted share. These results compare to net income of $14 million, or $0.14 per diluted share, for the fourth quarter of fiscal 1999.
Highlights for the Quarter:
Revenue Growth -- Consolidated net revenue was $500 million, an increase of 50 percent compared to the same quarter last year and a 35 percent increase
sequentially. PC Systems net revenue increased 15 percent sequentially and 5 percent year-on-year, the first year-on-year increase since the first quarter
of fiscal 1998.
VelocityNet Direct (``VND'') -- VelocityNet Direct, Micron's retail-direct business, posted solid results with an 83 percent increase in sales over the
third quarter of fiscal 2000. Building on the success of VND's initial launch with Best Buy, the company expanded the program by partnering with two new
retail leaders Outpost.com, a leading global Internet retailer of high-end technology products, and Staples Inc., the office supplies retailer. Additionally,
InterTAN, Inc., which operates RadioShack Canada, with 453 stores, has signed a letter of intent to sell Micron PC computers.
Record PC Unit Shipments -- Unit shipments were the highest in the company's history, increasing 36 percent sequentially and 29 percent year-on-year. |
