AMD Distributes Record $30 Million to Employees in Profit-sharing Payout.Business/Technology Editors SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 8, 2000 AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. today distributed more than $30 million in profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of to U.S. employees for the third quarter of 2000, the company's largest profit-sharing payout ever. Employees received the equivalent of approximately three-and-a-half weeks' pay, half in cash and half in deferred compensation. The cumulative profit-sharing payout for the first three quarters of 2000 amounted to nearly $80 million. The current distribution represents approximately 10 percent of operating profits for the quarter ended October 1, 2000, when AMD reported record sales of $1,207 billion and record net income of $409 million. Excluding non-recurring gains and charges, AMD reported net income of $219 million, also a record. "For more than three decades, AMD has been dedicated to a simple concept: `People first. Products and profits will follow,'" said W.J. Sanders III, chairman and chief executive officer. "There are no limits to what dedicated people can achieve if they are given the right environment and an opportunity to share in the rewards of success. Today AMD's flagship products -- PC processors and flash memory devices -- are innovative industry leaders. AMD has continued to outperform the semiconductor industry in a period of tremendous growth. I am very proud of the efforts of AMD employees and very pleased that we can share the rewards of our success." About AMD AMD is a global supplier of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. for the personal and networked computer and communications markets with manufacturing facilities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe, Japan, and Asia. AMD produces microprocessors, flash memory devices, and support circuitry for communications and networking applications. Founded in 1969 and based in Sunnyvale, California Sunnyvale ([sʌniveil]) is a city in Santa Clara County, California, United States. It is one of the major cities that make up the Silicon Valley. As of the 2000 census, the city population was 131,760. , AMD had revenues of $2.9 billion in 1999. (NYSE NYSE See: New York Stock Exchange : AMD). WORLD WIDE WEB: Press announcements and other information about AMD are available on the Internet via the World Wide Web. Type http://www.amd.com at the URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. prompt. NOTE TO EDITOR: Readers may obtain additional information by calling 1-800-222-9323 or 408-749-3060. Technical Support Email: hw.support@amd.com Note to Editors: AMD, the AMD logo, and combinations thereof are trademarks of Advanced Micro Devices, Inc. in the United States and other jurisdictions. |
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