AMD

AMD Reports Third Quarter Results and Announces Restructuring

                                                    Fourth quarter actions to target cost savings of more than $200 million through 2013 

Madrid—19th October 2012 

Q3 2012 Results 

  • AMD revenue $1.27 billion, 10 percent sequential decrease and a 25 percent decrease year-over-year
  • Net loss $157 million, loss per share $0.21, operating loss $131 million
  • Non-GAAP7  net loss $150 million, loss per share $0.20, operating loss $124 million
  • Gross margin 31 percent

AMD (NYSE:AMD) today announced revenue for the third quarter of 2012 of $1.27 billion, a net loss of $157 million, or $0.21 per share, and an operating loss of $131 million.  The company reported a non-GAAP net loss of $150 million, or $0.20 per share, and a non-GAAP operating loss of $124 million.  AMD is also announcing a restructuring plan designed to reduce operating expenses and better position the company competitively. 

“The PC industry is going through a period of very significant change that is impacting both the ecosystem and AMD,” said Rory Read, AMD president and CEO.  “It is clear that the trends we knew would re-shape the industry are happening at a much faster pace than we anticipated.  As a result, we must accelerate our strategic initiatives to position AMD to take advantage of these shifts and put in place a lower cost business model. Our restructuring efforts are designed to simplify our product development cycles, reduce our breakeven point and enable us to fund differentiated product roadmaps and strategic breakaway opportunities.”

Find additional information in the following link: http://www.amd.com/us/press-releases/Pages/press-release-2012oct18.aspx