AMD Reports First Quarter Results

AMD Reports First Quarter Results

SUNNYVALE, Calif. — April 19, 2007 — AMD (NYSE: AMD) today reported financial results for the quarter ended March 31, 2007.  AMD reported first quarter 2007 revenue of $1.233 billion, an operating loss of $504 million, and a net loss of $611 million, or $1.11 per share.  These results include ATI acquisition-related and integration charges of $113 million, or $0.21 per share, and employee stock-based compensation expense of $28 million, or $0.05 per share.  In the fourth quarter of 2006, AMD reported revenue of $1.773 billion and an operating loss of $529 million.  In the first quarter of 2006, AMD reported revenue of $1.332 billion and operating income of $259 million.

 

Change

($M except percentages)

Q1-07

Q4-06

Q1-06

Q1-07 vs Q4-06

Q1-07 vs Q1-06

Revenue

$1,233

$1,773

$1,332

(30%)

(7%)

Operating Income (Loss)

 

 

 

 

 

GAAP Operating income (loss)

$(504)

$(529)

$259

 

 

Acquisition-related and integration charges

113

551

NA

 

 

Stock-based compensation expense

28

27

15

 

 

Non-GAAP Operating income (loss)

$(363)

$49

$274

 

 

“After more than three years of successfully executing our customer expansion strategy and significantly growing our unit and revenue base, our first quarter performance is disappointing and unacceptable,” said Robert J. Rivet, AMD’s chief financial officer.  “We are aggressively addressing the issues that led to our significant revenue decline.  We are aligning our business model, capital expenditures and cost structure with the goal of accelerating our return to profitability. Lastly, our customer relationships remain solid, reflecting their confidence in our strategic direction, current and new products, and technology roadmaps.” READ MORE...

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