AMD Reports 1995 Year-End Results.SUNNYVALE Sunnyvale, city (1990 pop. 117,229), Santa Clara co., W Calif., near San Francisco; settled 1849, inc. 1912. A city in Silicon Valley, its many manufactures include semiconductors; machinery and instruments; electrical, electronic, and aerospace products; , Calif.--(BUSINESS WIRE)--Jan. 10, 1996--Advanced Micro Devices (NYSE NYSE See: New York Stock Exchange :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 reported 1995 year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. sales of $2,429,724,000, an increase of 14 percent compared to the $2,134,659,000 reported for fiscal 1994. Net income applicable to common stock- holders was $300,511,000, compared to $294,916,000 for 1994. Earnings per share were $2.81 on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis, compared to $2.92 per share fully diluted reported for 1994. Sales for the fourth quarter of 1995 were $593,029,000, up nine percent compared to $545,168,000 reported for the fourth quarter of 1994. Third quarter sales were $590,385,000. Net income applicable to common stockholders was $55,572,000 or $0.52 per share, up 46 percent compared to $38,171,000 or $0.39 per share fully diluted earned in the fourth quarter of 1994. The fourth quarter 1994 net income reflected a one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. charge for a litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. settlement. Third quarter 1995 net income was $56,163,000 or $0.52 per share. Net income in the fourth quarter of 1995 benefited from a lower tax rate. The company again reported strong demand for its flash products. "Sales of our flash devices grew over 20 percent on a sequential basis and nearly tripled year-over-year," said W.J. Sanders San´ders n. 1. An old name of sandalwood, now applied only to the red sandalwood. See under Sandalwood. III, chairman and chief executive officer of AMD. "Late in the quarter we began sampling our new 3 volt-only flash memory products, which we believe will gain wide acceptance for battery powered applications in 1996." Overall sales in the fourth quarter were only nominally higher over the third quarter due to lower than expected unit shipments of Am486 microprocessors This is a list of microprocessors. Intel
In December December: see month. , AMD broadly sampled customers with the first member of its K86 Superscalar A CPU architecture that allows more than one instruction to be executed in one clock cycle. See pipeline processing. (architecture) superscalar - A superscalar architecture is a uniprocessor that can execute two or more scalar operations in parallel. Family of Microsoft Windows- compatible microprocessors, code named SSA/5-75. This microprocessor microprocessor, integrated circuit containing the arithmetic, logic, and control circuitry required to interpret and execute instructions from a computer program. is a plug-in replacement for a Pentium 75. Also during the quarter, AMD commenced shipments of its Am5x86-P75 microprocessor. This device exceeds the performance of a Pentium 75 while maintaining socket compatibility with 486 motherboards. Both products are manufactured on AMD's 0.35 micron micron: see micrometer. One micrometer, which is one millionth of a meter or approximately 1/25,000 of an inch. The tiny elements that make up a transistor on a chip are measured in micrometers and nanometers. See process technology. logic process technology. Focusing on personal and networked computing computing - computer and communications markets, Advanced Micro Devices, Inc., produces microprocessors and related peripherals, flash memories, programmable logic devices See PLD. , and circuits for telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and networking applications. Founded in 1969, AMD has sales and manufacturing facilities worldwide. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this release looking forward in time involve risks and uncertainties, including product demand and market acceptance risks, the effect of changing economic conditions, the impact of competitive products and pricing, risks in technology development, risks in product development and commercialization, the effect of the company's accounting policy, and other risk factors detailed in the company's Securities and Exchange Commission filings. -0- Note to Editors: Am5x86 and K86 are trademarks of Advanced Micro Devices. Am486 is a registered trademark of Advanced Micro Devices. Microsoft and Windows are registered trademarks of Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, . All other product names used in this press release are for identifications purposes only and may be trademarks of their respective companies. -0-
Advanced Micro Devices, Inc.
CONSOLIDATED STATEMENTS OF INCOME
(Thousands except per share amounts)
Quarter Ended Year Ended
(Unaudited) (Audited)
Dec. 31, Oct. 1, Dec. 25, Dec. 31, Dec. 25,
1995 1995 1994 1995 1994
Net sales $593,029 $590,385 $545,168 $2,429,724 $2,134,659 Cost of sales 362,801 344,344 263,837 1,298,876 982,306 Research and development 104,009 100,014 76,115 397,555 279,984 Marketing, general, and administrative 95,181 95,525 87,236 385,016 359,230
561,991 539,883 427,188 2,081,447 1,621,520
Operating income 31,038 50,502 117,980 348,277 513,139 Litigation settlement 0 0 (58,000) 0 (58,000) Interest income and other, net 7,526 9,867 5,317 30,763 16,259 Interest expense (706) 0 (1) (707) (1,844) Income before income taxes and equity in joint venture 37,858 60,369 65,296 378,333 469,554 Provision for income taxes 3,786 16,517 21,548 112,738 153,703 Income before equity in joint venture 34,072 43,852 43,748 265,595 315,851 Equity in net income (loss) of joint venture 21,500 12,311 (2,989) 34,926 (10,585) Net income 55,572 56,163 40,759 300,521 305,266 Preferred stock dividends 0 0 2,588 10 10,350 Net income applicable to common stockholders $55,572 $56,163 $38,171 $300,511 $294,916 Net income per common share -Primary $0.52 $0.52 $0.39 $2.85 $3.02 -Fully diluted $0.52 $0.52 $0.39 $2.81 $2.92 Shares used in per share calculation -Primary 106,799 107,318 98,636 105,575 97,510 -Fully diluted 106,799 107,319 105,490 107,035 104,570
Advanced Micro Devices, Inc.
CONSOLIDATED BALANCE SHEETS
(Thousands)
December 31, December 25,
1995 1994
(Audited) (Audited)
Assets
Current assets:
Cash, cash equivalents,
and short-term investments $490,647 $377,854
Accounts receivable, net 275,733 337,107
Inventories 154,670 128,690
Deferred income taxes 108,989 98,675
Prepaid expenses and
other current assets 66,729 44,293
Total current assets 1,096,768 986,619
Property, plant, and
equipment, net 1,636,092 1,264,211
Investment in joint venture 176,821 124,588
Other assets 121,587 70,284
$3,031,268 $2,445,702
Liabilities and
Stockholders' Equity
Current liabilities:
Notes payable to banks $27,070 $32,459
Accounts payable 223,708 149,122
Accrued compensation and
benefits 105,651 104,526
Accrued liabilities 79,092 82,570
Litigation settlement 0 58,000
Income tax payable 56,297 53,795
Deferred income on shipments
to distributors 100,057 83,800
Current portion of long-term
debt and capital lease
obligations 29,861 27,895
Total current liabilities 621,736 592,167
Deferred income taxes 94,439 42,518 Long-term debt and capital lease obligations, less current portion 214,965 75,752 Stockholders' equity: Capital stock:
Serial preferred stock, par value 0 34
Common stock, par value 1,047 956
Capital in excess of par value 735,825 698,673
Retained earnings 1,363,256 1,035,602
Total stockholders' equity 2,100,128 1,735,265
$3,031,268 $2,445,702
-0- CONTACT: Advanced Micro Devices Chuck Mulloy, 408/749-5481 |
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