SUNNYVALE, CA --JULY 10, 1996--AMD today reported a net loss of $34,672,000 on sales of $455,077,000 for the quarter ended June 30, 1996. The loss amounted to
$0.26 per share on a fully diluted basis. The company's second-quarter results include a non-recurring, pre-tax gain of $16.3 million resulting from a sale of securities.
Sales for the like period of 1995 amounted to $638,867,000, which resulted in net income of $80,652,000, or $0.59 per share fully diluted.
In the immediate-prior quarter, AMD reported sales of $544,212,000, which resulted in net income of $25,327,000, or $0.18 per share fully diluted. The company's
first-quarter results included a non-recurring gain of $24.7 million resulting from a sale of securities and non-recurring charges of $8.7 million for expenses associated
with AMD's merger with NexGen, Inc., which was completed during the quarter.
For the first six months of 1996, the company reported total revenues of $999,289,000, which resulted in a net loss applicable to common stockholders of $9,345,000, or
$0.07 per common share fully diluted. For the same period a year ago, AMD reported revenues of $1,266,248,000, which resulted in net income applicable to common
stockholders of $164,972,000, or $1.21 per common share fully diluted. (Financial results for 1995 have been restated to include the historical financial information of
NexGen, Inc.)
"The main cause of our revenue decrease was a significant decline in flash memory revenues from the immediate-prior quarter," said W.J. Sanders III, chairman and chief
executive officer. "Flash memory sales were impacted by soft demand and sharply lower prices as customers continued to reduce their inventories to levels consistent
with current availability. All AMD product lines were adversely affected by weaker demand for semiconductors. |
