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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 217.54+1.5%Nov 28 12:59 PM EST
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To: cruzbay who wrote (193954)4/17/2006 12:37:26 AM
From: PetzRead Replies (1) of 275872
 
Sorry, I stopped reading the report when he got the facts wrong:

This caused analysts' estimates to be in the range of $200-225 million for depreciation in Q1, or approximately $38.5 million higher at the mid-point than what AMD reported. This delta is the equivalent of 8 cents in EPS,” he said in a report.

Actual depreciation was $174M. So the 'shortfall' range is 26M to 51M. 26M is 21.8M after taxes (16%, which was higher than AMD had estimated, funny, no one mentioned that), or 4.4 cents. (PS, I agree with brushwud, they misinterpreted the Q4 CC depreciation comments.)

Using the higher estimate for depreciation, the shortfall in depreciation is 8.6 cents.

Last I checked, the midpoint of 4.4 and 8.6 is NOT 8, as the analyst claims.

And there is another interpretation of lower depreciation, and that is that they began to stop using some Fab 30 equipment before the end of the quarter.

Petz
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