Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Joe NYC who wrote (126051)	10/14/2000 4:29:23 PM
From: david_langston	Read Replies (1) of 1583935

Joe, But during all this time, AMD is making money, paying off debt, buying equipment for fabs, adding fabs, funding R&D, gaining market share, growing top line and bottom line. I consider all this progress that you have cited as just back-filling the CXT hole that they dug in late-'98 to early-'99. It's just about filled hopefully. The one thing that I really wish they would do (if they can) is get rid of those d--- convertibles . AMD gets hit with double jeopardy with those since the stock climbed above $18.50 (post-split prices): 1. the convertibles are counted as converted shares when calculating diluted earnings, 2. but the debt obligation is still counted in the debt/equity ratio. The conversion call date on the notes is next May 15, but maybe they could advance it by sweetening the pot slightly like they did to redeem the Senior Secured Notes this past August. Then if they really feel it is necessary to their capital structure, they could issue new notes with their currently much-improved credit rating. Dave

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