AMD Updates First Quarter Outlook

by Marco Chiappetta — Monday, April 07, 2008, 04:25 PM EDT

AMD Updates First Quarter Outlook

SUNNYVALE, Calif. – April 7, 2008 – AMD (NYSE: AMD) today announced that it expects revenue for the first quarter ended March 29, 2008 to be approximately $1.5 billion, a 22 percent increase compared to the first quarter of 2007, and down 15 percent compared to the fourth quarter of 2007. The decrease is due to lower than expected sales across all business segments. AMD had previously anticipated first quarter revenue to decline in line with seasonality.

In addition, AMD announced plans to adjust its cost structure by reducing its workforce by approximately 10 percent by the end of the third quarter of 2008. As a result of these reductions, AMD expects to record a restructuring charge in the second quarter of 2008. At the time of this release, AMD is unable to determine the estimated amount of the charge as the details are still being finalized.

AMD will report first quarter 2008 results after market close on April 17, 2008. AMD will hold a conference call on this day 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. The webcast will be available for ten days after the conference call.

Tags: AMD, Update, outlook, Date, PDA, updates, art, RT, first, AR, IRS, AM, K

Marco Chiappetta

Marco's interest in computing and technology dates all the way back to his early childhood. Even before being exposed to the Commodore P.E.T. and later the Commodore 64 in the early ‘80s, he was interested in electricity and electronics, and he still has the modded AFX cars and shop-worn soldering irons to prove it. Once he got his hands on his own Commodore 64, however, computing became Marco's passion. Throughout his academic and professional lives, Marco has worked with virtually every major platform from the TRS-80 and Amiga, to today's high end, multi-core servers. Over the years, he has worked in many fields related to technology and computing, including system design, assembly and sales, professional quality assurance testing, and technical writing. In addition to being the Managing Editor here at HotHardware for close to 15 years, Marco is also a freelance writer whose work has been published in a number of PC and technology related print publications and he is a regular fixture on HotHardware’s own Two and a Half Geeks webcast. - Contact: marco(at)hothardware(dot)com