AMD Reports 2012 Fourth Quarter and Annual Results

SUNNYVALE, CA -- (Marketwire) -- Jan 22, 2013 -- AMD (NYSE: AMD)

Q4 2012 Results

  • AMD revenue $1.16 billion, decreased 9 percent sequentially and 32 percent year-over-year
  • Gross margin 15 percent, non-GAAP(1) gross margin 39 percent
  • Operating loss of $422 million, net loss of $473 million, loss per share of $0.63
  • Non-GAAP(1) operating loss of $55 million, net loss of $102 million, loss per share of $0.14

2012 Annual Results

  • AMD revenue $5.42 billion, down 17 percent year-over-year
  • Gross margin 23 percent, non-GAAP(1) gross margin 41 percent
  • Operating loss of $1.06 billion, net loss of $1.18 billion, loss per share $1.60
  • Non-GAAP(1) operating income of $45 million, net loss of $114 million, loss per share $0.16

AMD (NYSE: AMD) today announced revenue for the fourth quarter of 2012 of $1.16 billion, an operating loss of $422 million, and a net loss of $473 million, or $0.63 per share. The company reported a non-GAAP operating loss of $55 million and a non-GAAP net loss of $102 million, or $0.14 per share.

For the year ended December 29, 2012, AMD reported revenue of $5.42 billion, an operating loss of $1.06 billion and a net loss of $1.18 billion, or $1.60 per share. The full year non-GAAP operating income was $45 million and non-GAAP net loss was $114 million, or $0.16 per share.

"AMD continues to evolve our operating model and diversify our product portfolio with the changing PC environment," said Rory Read, AMD president and CEO. "Innovation is the core of our long-term growth. The investments we are making in technology today are focused on leveraging our distinctive IP to drive growth in ultra low power client devices, semi-custom SoCs and dense servers. We expect to deliver differentiated and groundbreaking APUs to our customers in 2013 and remain focused on transforming our operating model to the business realities of today."

                                                                            
                           GAAP Financial Results                           
                                                                            
----------------------------------------------------------------------------
                                   Q4-12    Q3-12    Q4-11     2012    2011 
----------------------------------------------------------------------------
Revenue                           $1.16B   $1.27B   $1.69B    $5.42B  $6.57B
----------------------------------------------------------------------------
Operating income (loss)           $(422)M  $(131)M   $71M    $(1.06)B  $368M
----------------------------------------------------------------------------
Net income (loss) / Earnings     $(473)M/ $(157)M/ $(177)M/ $(1.18)B/ $491M/
 (loss) per share                 $(0.63)  $(0.21)  $(0.24)  $(1.60)   $0.66
----------------------------------------------------------------------------
                                                                            
                        Non-GAAP Financial Results(1)                       
                                                                            
----------------------------------------------------------------------------
                                      Q4-12    Q3-12   Q4-11   2012    2011 
----------------------------------------------------------------------------
Revenue                              $1.16B   $1.27B  $1.69B  $5.42B  $6.57B
----------------------------------------------------------------------------
Operating income (loss)              $(55)M   $(124)M  $172M   $45M    $524M
----------------------------------------------------------------------------
Net income (loss) / Earnings (loss) $(102)M/ $(150)M/ $138M/ $(114)M/ $374M/
 per share                           $(0.14)  $(0.20)  $0.19  $(0.16)  $0.50
----------------------------------------------------------------------------
                                                                            

Quarterly Financial Summary

  • Gross margin was 15 percent. Non-GAAP gross margin was 39 percent, a sequential increase of 8 percent. Q3 2012 gross margin of 31 percent was adversely impacted by an inventory write-down of approximately $100 million. Fourth quarter gross margin was positively impacted by the sales of higher priced desktop microprocessors.
  • Cash, cash equivalents and marketable securities balance, including long-term marketable securities, was $1.2 billion at the end of the quarter.
  • AMD announced restructuring actions and operational efficiencies in Q4 2012, resulting in a net restructuring charge of $90 million in the quarter, which includes costs related to actions taken in Q4 2012 as well as an estimate of the expected costs related to Q1 2013 workforce reductions.
  • Computing Solutions segment revenue decreased 11 percent sequentially and 37 percent year-over-year. The sequential and year-over-year decreases were primarily driven by lower microprocessor unit volume shipments.
    • Operating loss was $323 million, compared with an operating loss of $114 million in Q3 2012 and operating income of $165 million in Q4 2011. Q4 2012 operating loss increased $209 million sequentially primarily due to the impact of a Lower of Cost or Market (LCM) charge related to the GLOBLFOUNDRIES Inc. (GF) take-or-pay obligation of $273 million. The charge was previously expected to be $165 million.
    • Microprocessor ASP increased sequentially and decreased year-over-year.
  • Graphics segment revenue decreased 5 percent sequentially and 15 percent year-over-year. Graphics processor unit (GPU) revenue decreased sequentially and year-over-year due to lower unit volume shipments.
    • Operating income was $22 million, compared with $18 million in Q3 2012 and $27 million in Q4 2011.
    • GPU ASP was flat sequentially and increased year-over-year.

1 | 2 | 3 | 4  Next Page »



Review Article Be the first to review this article
SolidCAM - SolidCAM SEE IT LIVE

Featured Video
Jobs
Mechanical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
Mid-Level Mechanical Engineer for Kiewit at lenexa, Kansas
Director of Process Engineering. for Tekni-Plex at Toledo, Ohio
System Designer/Engineer for Bluewater at Southfield, Michigan
Director, Business Development for Kongsberg Geospatial at Ottawa, Canada
Director, Business Development for Kongsberg Geospatial at remote from home, Any State in the USA
Upcoming Events
Montréal Manufacturing Technology Show (MMTS) 2018 at Place Bonaventure Montréal Canada - May 14 - 16, 2018
ESPRIT World 2018 at Indianapolis Marriott Downtown 350 West Maryland Street Indianapolis IN - Jun 11 - 15, 2018
HxGN LIVE 2018 at The Venetian Las Vegas NV - Jun 12 - 15, 2018
IMTS2018 International Manufacturing Tech Show at McCormick Place Chicago IL - Sep 10 - 15, 2018



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise