AMD Updates First Quarter Outlook
SUNNYVALE, Calif. - April 9, 2007 - AMD (NYSE: AMD) today announced it expects to report revenue of approximately $1.225 billion in the quarter ending March 31, 2007. Revenues declined sharply quarter-over-quarter for the Computing Solutions segment, primarily due to lower overall average selling prices and significantly lower unit sales, especially in the resale channel.
AMD plans to restructure its business model to increase operational efficiencies and lower its operating cost structure. AMD will reduce 2007 capital expenditures by approximately $500 million, which the company believes will not materially impact capacity plans for the year. AMD will also significantly reduce discretionary expenses and limit hiring to critical positions. The company will provide more details during its conference call to report first quarter 2007 financial results on April 19. AMD will report first quarter 2007 financial results after market close on April 19, 2007. AMD will hold a conference call for the financial community at 2:00 p.m. PT to discuss first quarter results. A real-time audio broadcast of the teleconference will be provided at www.amd.com and www.streetevents.com. The webcast will be available for ten days after the conference call.
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