AMD revenue falls as PC sales continue to fall

AMD Teleconference

AMD will hold a conference call for the financial community at 2:30 p.m. PT (5:30 p.m. ET) today to discuss its fourth quarter and annual financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com. The webcast will be available for 12 months after the conference call.

Reconciliation of GAAP to Non-GAAP Gross Margin

                                                                            
                           -------------------------------------------------
(Millions except                                                            
 percentages)                Q4-14     Q3-14     Q4-13      2014      2013  
----------------------------------------------------------------------------
GAAP gross margin          $     360 $     494 $     553 $   1,839 $   1,978
----------------------------------------------------------------------------
GAAP gross margin %              29%       35%       35%       33%       37%
----------------------------------------------------------------------------
  Lower of cost or market                                                   
   inventory adjustment    $      58         -         - $      58         -
----------------------------------------------------------------------------
Non-GAAP gross margin      $     418 $     494 $     553 $   1,897 $   1,978
----------------------------------------------------------------------------
Non-GAAP gross margin %          34%       35%       35%       34%       37%
----------------------------------------------------------------------------
                                                                            

Reconciliation of GAAP Operating Income (Loss) to Non-GAAP Operating Income

                                                                            
                       -----------------------------------------------------
(Millions)               Q4-14      Q3-14     Q4-13       2014       2013   
----------------------------------------------------------------------------
GAAP operating income                                                       
 (loss)                $    (330) $      63 $     135  $    (155) $     103 
----------------------------------------------------------------------------
  Goodwill impairment        233          -         -        233          - 
----------------------------------------------------------------------------
  Restructuring and                                                         
   other special                                                            
   charges, net               71          -         -         71         30 
----------------------------------------------------------------------------
  Lower of cost or                                                          
   market inventory                                                         
   adjustment                 58          -         -         58          - 
----------------------------------------------------------------------------
  Amortization of                                                           
   acquired intangible                                                      
   assets                      4          3         4         14         18 
----------------------------------------------------------------------------
    Workforce  rebalancing                                                                                                          
      severance  charges                      -                    -                  -                  14                    -  
----------------------------------------------------------------------------
    Legal  settlements,                                                                                                                
      net                                                  -                    -              (48)                  -                (48)
----------------------------------------------------------------------------
Non-GAAP  operating                                                                                                                    
  income                                $            36    $            66  $            91    $          235    $          103  
----------------------------------------------------------------------------
                                                                                                                                                        
 

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