AMD Reports Loss on Record Processor Sales
Online staff -- Electronic News, 4/17/2002
e-insite.net
Advanced Micro Devices Inc. (AMD) today posted declining net sales of $902.1 million and a net loss of $9.2 million, or 3 cents per share, for the quarter ended March 31. These results match AMD’s previously announced expectations for its first quarter.
Revenues declined by 24 percent from $1.2 billion in the same period a year ago and by 5 percent from $951.9 million in the previous quarter. The first quarter’s net loss was an improvement from the $15.8 million, or 5 cents per share, net loss reported for the fourth quarter of 2001, but still below year-ago net income of $124.8 million, or 37 cents per diluted share.
These results accompanied record unit sales of 8 million PC processors. This made up for processor sales declining 3 percent sequentially to $684 million, from the record $703 million reported for the seasonally strong fourth quarter of 2001. Sales in this segment increased by 3 percent compared to the year ago quarter’s $661 million.
AMD said sales of its memory products, principally flash memory devices, continued to be weak, with only $160 million in sales, compared to $411 million in the same period a year ago and $196 million in the fourth quarter of 2001.
"The strength of the AMD Athlon XP processor enabled AMD to achieve record unit sales of PC processors," said W.J. Sanders III, chairman and CEO, in a statement. "We believe AMD grew unit market share in PC processors, defined as Microsoft Windows compatible processors for mobile, desktop, server, and workstation computing. Sales of mobile processors grew in both units and dollars from the prior quarter." |
