AMD Reports Second Quarter Results

AMD REPORTS SECOND QUARTER RESULTS

- 53 Percent Year-over-Year Sales Growth Driven by Record Adoption of AMD Opteron Processors -

SUNNYVALE, Calif. - July 20, 2006 - AMD (NYSE: AMD) today reported sales of $1.22 billion, operating income of $102 million, and net income of $89 million, or $0.18 per share, for the quarter ended July 2, 2006.  These results include $18 million of employee stock-based compensation expense and a net gain of $10 million associated with Spansion LLC.'s repurchase of its 12.75 percent senior subordinated notes.

In the second quarter of 2005, excluding the Memory Products segment, AMD reported sales of $797 million and operating income of $83 million.  In the first quarter of 2006, AMD reported sales of $1.33 billion and operating income of $259 million.

 

Change

 

Q2-06

Q1-06

Q2-051

Q2-06 vs Q1-06

Q2-06 vs Q2-05

Net Sales (billions)

$1.22

$1.33

$.80

(8.7)%

52.6%

Operating Income (millions)

$102

$259

$83

(60.6)%

22.9%

Gross Margin

56.8%

58.5%

58.0%

(1.7)% points

(1.2)% points

"While we achieved 53 percent year-over-year sales growth and recorded our twelfth consecutive quarter of greater than 20 percent year-over-year microprocessor sales growth, we are dissatisfied by not reaching our second quarter sales target," said Robert J. Rivet, AMD's chief financial officer.  READ MORE...

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