Balance sheet comments re: <$1B in cash and 1.8B in debt>
Actually, a cash to long term debt ratio of 1:1.8 is pretty high and not unusual. Unfortunately, there is also a little item on the balance sheet called "accrued liabilities," at $594M and "accrued compensation and benefits" at $186M. Combined, they are up $250M in the quarter.
ouch!
Because of these items, that cash horde will be dwindling even if AMD breaks even in Q2.
I'm also concerned about the inventory level of $432M. Its not up by much this quarter, but its way too big. It is
63% of quarterly sales, compared to
32% at Intel, 32% at Intel last year, 26% two years ago,
36% at NSM,
40% at AMD a year ago, 29% at AMD two years ago!
46% at LSI,
77% at IDTI,
96% at Atmel(ATML).
Petz |
