AMD Reports Second Quarter Results; 53 Percent Year-over-Year Sales Growth(1) Driven by Record Adoption of AMD Opteron(TM) Processors.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. -- 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. (NYSE NYSE See: New York Stock Exchange :AMD) today reported sales of $1.22 billion, operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $102 million, and net income of $89 million, or $0.18 per share, for the quarter ended July July: see month. 2, 2006. These results include $18 million of employee stock-based compensation expense and a net gain of $10 million associated with Spansion Spansion Inc. is a joint-venture between AMD and Fujitsu that trades on NASDAQ under the symbol SPSN. Spansion has 8,400 employees and is headquartered in Sunnyvale, California. History In 1993, AMD and Fujitsu formed a 50-50 joint venture called FASL. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control .'s repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of its 12.75 percent senior subordinated notes. In the second quarter of 2005, excluding the Memory Products segment(1), AMD reported sales of $797 million and operating income of $83 million. In the first quarter of 2006, AMD reported sales of $1.33 billion and operating income of $259 million.
Change
----------------------------------------------------------------------
Q2-06 Q1-06 Q2-05(1) Q2-06 vs Q1-06 Q2-06 vs Q2-05
----------------------------------------------------------------------
Net Sales
(billions) $1.22 $1.33 $.80 (8.7)% 52.6%
----------------------------------------------------------------------
Operating Income
(millions) $102 $259 $83 (60.6)% 22.9%
----------------------------------------------------------------------
Gross Margin 56.8% 58.5% 58.0% (1.7)% points (1.2)% points
----------------------------------------------------------------------
"While we achieved 53 percent year-over-year sales growth and recorded our twelfth consecutive quarter of greater than 20 percent year-over-year microprocessor microprocessor, integrated circuit containing the arithmetic, logic, and control circuitry required to interpret and execute instructions from a computer program. sales growth, we are dissatisfied dis·sat·is·fied adj. Feeling or exhibiting a lack of contentment or satisfaction. dis·sat  is·fied by not
reaching our second quarter sales target," said Robert Robert, Henry Martyn 1837-1923.American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. J. Rivet, AMD's chief financial officer. "We are particularly pleased with the continued adoption of AMD solutions in the commercial segment. In particular, AMD Opteron A family of 64-bit CPU chips from AMD, formerly code named Sledgehammer (part of the Hammer line). Introduced in April 2003, the Opteron fully supports 32-bit applications, but requires that programs be optimized and recompiled to take full advantage of the 64 bits. processor sales grew 26 percent sequentially and we believe we gained server processor market share in the quarter. Sales to our largest global customers grew quarter-over-quarter as we continued to successfully execute our strategy. Sales through the distribution channel were down, primarily because we chose not to participate in certain deeply-discounted opportunities. "Second quarter manufacturing execution was outstanding, with Fab 36 ramping 300mm capacity aggressively at mature yields. In addition, Chartered Semiconductor is now in production of AMD products." Second quarter sales were down from the prior quarter primarily due to the challenging pricing environment for high-volume desktop processors which negatively impacted average selling prices The average sales price of goods or commodities. Especially used in the retail sector and technology distribution. (ASPs). Total microprocessor unit shipments were down four percent sequentially. Record AMD Opteron processor sales were driven by growing demand for single- and multi-socket server and workstation solutions. AMD Opteron processor unit shipments experienced double digit Noun 1. double digit - a two-digit integer; from 10 to 99 integer, whole number - any of the natural numbers (positive or negative) or zero; "an integer is a number that is not a fraction" percentage growth quarter-over-quarter, and the sequential ASP asp, popular name for several species of viper, one of which, the European asp (Vipera aspis), is native to S Europe. It is also a name for the Egyptian cobra (Naja haja). percentage increase was in the single digits. Second quarter gross margin was 56.8 percent, compared to 58.5 percent in the first quarter of 2006. The gross margin decrease was largely due to lower desktop processor ASPs. Operating income was $102 million in the second quarter, up from $83 million in the second quarter of 2005 and down from $259 million in the first quarter of 2006. The decline in operating income from the prior quarter was due largely to lower sales and increased operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. related to an extra week of operations in the quarter, and marketing expenses in support of the company's long-term goals Long-term goals Financial goals expected to be accomplished in five years or longer. to acquire new customers, expand business with existing customers, and increase commercial sales. ADDITIONAL HIGHLIGHTS --AMD expanded its footprint The amount of geographic space covered by an object. A computer footprint is the desk or floor surface it occupies. A satellite's footprint is the earth area covered by its downlink. See form factor. 1. by adding new customers and increasing the number of platforms with existing customers. --Dell announced plans to offer Dual-Core AMD Opteron processor-based servers by the end of the year. --Lenovo announced plans to offer AMD-powered ThinkCentre commercial desktops. --Fujitsu Siemens Computers See Fujitsu Siemens. launched two new commercial offerings, an AMD Athlon A family of Pentium-compatible CPU chips from AMD. The first 32-bit models were introduced as Pentium III-class CPUs in 1999 with a 200 MHz system bus and CPU speeds up to 650 MHz. 64 processor-based Esprimo desktop system and a thin client powered by an AMD Geode processor. --Sun Microsystems introduced a new AMD Geode processor-based commercial thin client. --Semp Toshiba Toshiba Corporation (株式会社東芝 Kabushiki-gaisha Tōshiba , the second largest OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and in Brazil Brazil (brəzĭl`), Port. Brasil, officially Federative Republic of Brazil, republic (2005 est. pop. 186,113,000), 3,286,470 sq mi (8,511,965 sq km), E South America. , began offering AMD-based desktop systems. --Tsinghua Tongfang, China's third largest computer manufacturer and the second largest home PC brand in China, launched its first AMD-powered mobile solutions in China. --AMD continued its momentum in the mobile market, securing more than twice the AMD Turion A version of the Athlon 64 CPU from AMD designed for thin, lightweight laptops. The Turion 64 CPUs dissipate as little as 25 watts compared to 65 for the Athlon. Introduced in 2005, Turion enhanced AMD's line of mobile CPUs, which included the Mobile Athlon 64 for full-sized laptops and 64 X2 mobile design wins at launch as compared to the original AMD Turion 64 launch. --AMD detailed its "Torrenza Torrenza is an initiative announced by AMD to improve support for the integration of specialized co-processors in systems based on AMD Opteron microprocessors. Torrenza does not refer to a specific product or specific technology, though the primary focus is on the integration of " initiative to accelerate industry-wide innovation on the AMD64 platform. Torrenza represents the industry's first open x86 innovation platform, capitalizing on the unique advantages of the Direct Connect Architecture and HyperTransport A high-speed interconnection between integrated circuits. Code named Lightning Data Transport and developed by AMD and others, the HyperTransport I/O Link Specification defines a protocol and electrical interface between the CPU, memory and peripheral devices. . Torrenza will enable partners to innovate in·no·vate v. in·no·vat·ed, in·no·vat·ing, in·no·vates v.tr. To begin or introduce (something new) for or as if for the first time. v.intr. To begin or introduce something new. within a common ecosystem. --More than 90 percent of the top 100 and more than 55 percent of the top 500 of the Forbes Forbes , B(ertie) C(harles) 1880-1954. American publisher and businessman who founded and edited (1916-1954) Forbes magazine. His son Malcolm Stevenson Forbes Global 2000 companies or their subsidiaries are using AMD64 technology. Companies that have recently joined these growing ranks include CDW CDW - data warehouse Corporation, Reliance Industries, Sanofi-Aventis Sanofi-Aventis (Euronext: SAN, NYSE: SNY), headquartered in Paris, France, is one of the five largest pharmaceutical companies in the world, along with Pfizer, Bristol-Myers Squibb, Novartis, and GlaxoSmithKline. , and Toyota, among others. --AMD Opteron processor-based systems represent the fastest growing platform on the Top500 Supercomputing list, with 81 AMD Opteron(TM) processor-based systems now on the list as reported by the TOP500 Organization. --AMD announced plans to flexibly expand its manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. , including converting Fab 30 from 200mm to 300mm production, expanding production capacity at Fab 36, and accelerating the transition to 45nm production within 18 months of initial 65nm production. AMD also received a non-binding $900 million cash incentive package consisting of grants and tax credits from the State of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of to build its next fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. facility in Luther Forest, NY. --AMD, APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. , Cadence Design Systems (company) Cadence Design Systems - A company that sells electronic design automation software and services. http://cadence.com/. See also Verilog. , Dell, Egenera, HP, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Rackable Systems, SprayCool, Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. , VMWare and other industry leaders initiated the formation of the Green Grid(TM) Alliance to share best practices to reduce power consumption in datacenters and raise awareness around critical energy optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. of datacenter management. --AMD continued to enhance performance in the award-winning AMD Athlon 64 processor family, including the launch of the AMD Athlon 64 FX 62 and the AMD Athlon 64 X2 5000+. AMD also announced a new line of energy-efficient desktop products delivering smaller, quieter, and more innovative PC designs. --AMD and Microsoft announced an agreement to jointly support flexible business models for emerging markets powered by Microsoft(R) FlexGo(TM) technology. The pay-as-you-go computing computing - computer model allows customers to have a fully-featured PC by paying only for the time they use it. CURRENT OUTLOOK AMD's outlook statements are based on current expectations. The following statements are forward looking, and actual results could differ materially depending on market conditions. AMD expects demand for its products to be seasonally strong in the second half of 2006, and we expect third quarter sales to increase sequentially. AMD TELECONFERENCE AMD will hold a conference call for the financial community at 2:30 p.m. PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT today to discuss second quarter financial results. AMD will provide a real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. audio broadcast of the teleconference on the Investor Relations Investor relations The process by which the corporation communicates with its investors. page of its Web site at www.amd.com. The webcast will be available for 10 days after the conference call. ABOUT AMD Advanced Micro Devices (NYSE:AMD) is a leading global provider of innovative microprocessor solutions for computing, communications and consumer electronics markets. Founded in 1969, AMD is dedicated to delivering superior computing solutions based on customer needs that empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems users worldwide. For more information visit www.amd.com. CAUTIONARY STATEMENT This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. concerning sales for the third quarter of 2006, AMD's Torrenza initiative and AMD's manufacturing capacity expansion plans, which are made pursuant to the 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. provisions of 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. Investors are cautioned that forward-looking statements in this release involve risks and uncertainties that could cause actual results to differ materially from the company's current expectations. Risks include the possibility that global business and economic conditions will worsen wors·en tr. & intr.v. wors·ened, wors·en·ing, wors·ens To make or become worse. worsen Verb to make or become worse worsening adjn , resulting in lower than currently expected sales in the third quarter of 2006 and beyond; that Intel Corporation's pricing, marketing programs, product bundling Product bundling is a marketing strategy that involves offering several products for sale as one combined product. This strategy is very common in the software business (for example: bundle a word processor, a spreadsheet, and a database into a single office suite), and in the fast , new product introductions or other activities targeting the company's microprocessor business will prevent attainment of the company's current microprocessor sales plans; that demand for computers and, in turn, demand for the company's microprocessors This is a list of microprocessors. Intel
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 25, 2005 and the Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 26, 2006. AMD, the AMD Arrow logo, AMD Athlon, AMD Opteron, AMD Geode, AMD Turion, and combinations thereof are trademarks of Advanced Micro Devices, Inc. Spansion is a trademark of Spansion, Inc. Other names used are for identification purposes only and may be trademarks of their respective owners. (1) As a result of Spansion Inc.'s initial public offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) in December 2005, financial results for periods in 2006 compared to periods in 2005 do not correlate directly. All references to and comparisons with periods in 2005 exclude the results of the Company's former Memory Products segment.
Advanced Micro Devices, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Thousands except per share amounts)
Quarter Ended
----------------------------------------------------------------------
Jul. 2, Mar. 26, Jun. 26,
2006 2006 2005
(Unaudited)(Unaudited)(Unaudited)
------------------------------------ ---------- ---------- -----------
Net sales $1,216,367 $1,332,158 $1,259,918
Cost of sales (includes stock-based
compensation expense of $2,200 for
Q2 FY'06; $1,789 for Q1 FY'06 and $0
for Q2 FY'05; $3,989 for six months
ended Jul. 2,06 and $0 for six
months ended Jun. 26,05) 526,059 553,340 765,954
------------------------------------ ---------- ---------- -----------
Gross margin 690,308 778,818 493,964
Gross margin % 56.8% 58.5% 39.2%
Research and development (includes
stock-based compensation expense of
$6,834 for Q2 FY'06; $4,094 for Q1
FY'06 and $0 for Q2 FY'05; $10,928
for six months ended Jul. 2,06 and
$0 for six months ended Jun. 26,05) 278,674 264,176 272,584
Marketing, general and administrative
(includes stock-based compensation
expense of $9,020 for Q2 FY'06;
$9,162 for Q1 FY'06; $313 for Q2
FY'05; $18,182 for six months ended
Jul. 2,06 and $456 for six months
ended Jun. 26,05) 309,525 256,042 228,511
------------------------------------ ---------- ---------- -----------
Operating income (loss) 102,109 258,600 (7,131)
Interest income 35,308 28,162 7,194
Interest expense (17,859) (23,247) (25,653)
Other income (expense), net 7,240 (19,128) (4,096)
------------------------------------ ---------- ---------- -----------
Income (loss) before minority
interest, equity in net loss of
Spansion Inc. and income taxes 126,798 244,387 (29,686)
Minority interest of consolidated
subsidiaries (7,183) (6,347) 37,905
Equity in net loss of Spansion Inc. (12,467) (18,243) -
Provision (benefit) for income taxes 18,301 35,273 (3,100)
------------------------------------ ---------- ---------- -----------
Net income (loss) $ 88,847 $ 184,524 $ 11,319
------------------------------------ ---------- ---------- -----------
Net income (loss) per common share
Basic $ 0.18 $ 0.40 $ 0.03
Diluted $ 0.18 $ 0.38 $ 0.03
------------------------------------ ---------- ---------- -----------
Shares used in per share calculation
Basic 484,541 464,080 395,414
Diluted 500,176 495,326 405,739
Six Months Ended
----------------------------------------------------------------------
Jul. 2, Jun. 26,
2006 2005
(Unaudited)(Unaudited)
----------------------------------------------- ---------- -----------
Net sales $2,548,525 $2,486,546
Cost of sales (includes stock-based compensation
expense of $2,200 for Q2 FY'06; $1,789 for Q1
FY'06 and $0 for Q2 FY'05; $3,989 for six
months ended Jul. 2,06 and $0 for six months
ended Jun. 26,05) 1,079,399 1,573,403
----------------------------------------------- ---------- -----------
Gross margin 1,469,126 913,143
Gross margin % 57.6% 36.7%
Research and development (includes stock-based
compensation expense of $6,834 for Q2 FY'06;
$4,094 for Q1 FY'06 and $0 for Q2 FY'05;
$10,928 for six months ended Jul. 2,06 and $0
for six months ended Jun. 26,05) 542,850 525,706
Marketing, general and administrative (includes
stock-based compensation expense of $9,020 for
Q2 FY'06; $9,162 for Q1 FY'06; $313 for Q2
FY'05; $18,182 for six months ended Jul. 2,06
and $456 for six months ended Jun. 26,05) 565,567 440,225
----------------------------------------------- ---------- -----------
Operating income (loss) 360,709 (52,788)
Interest income 63,470 14,079
Interest expense (41,106) (49,898)
Other income (expense), net (11,888) (7,007)
----------------------------------------------- ---------- -----------
Income (loss) before minority interest, equity
in net loss of Spansion Inc. and income taxes 371,185 (95,614)
Minority interest of consolidated subsidiaries (13,530) 84,758
Equity in net loss of Spansion Inc. (30,710) -
Provision (benefit) for income taxes 53,574 (4,752)
----------------------------------------------- ---------- -----------
Net income (loss) $ 273,371 $ (6,104)
----------------------------------------------- ---------- -----------
Net income (loss) per common share
Basic $ 0.58 $ (0.02)
Diluted $ 0.55 $ (0.02)
----------------------------------------------- ---------- -----------
Shares used in per share calculation
Basic 474,311 394,245
Diluted 497,542 394,245
Advanced Micro Devices, Inc.
CONSOLIDATED BALANCE SHEETS
(Thousands)
Jul. 2, Mar. 26, Dec. 25,
2006 2006 2005(a)
(Unaudited) (Unaudited)
---------------------------------- ----------- ----------- -----------
Assets
Current assets:
Cash, cash equivalents and
short-term investments $2,530,062 $2,632,663 $1,794,766
Accounts receivable, net 571,539 819,963 805,531
Inventories 405,285 337,216 388,631
Prepaid expenses and other
current assets 308,323 322,031 477,302
Deferred income taxes 90,323 104,980 92,606
---------------------------------- ----------- ----------- -----------
Total current assets 3,905,532 4,216,853 3,558,836
Property, plant and equipment, net 3,163,181 2,874,887 2,701,000
Net investment in Spansion Inc. 686,984 700,329 721,342
Other assets 306,198 259,976 306,601
---------------------------------- ----------- ----------- -----------
Total Assets $8,061,895 $8,052,045 $7,287,779
================================== =========== =========== ===========
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable 706,454 847,178 855,834
Accrued compensation and benefits 161,547 258,791 226,874
Accrued liabilities 429,843 403,116 388,998
Income taxes payable 45,567 33,871 3,326
Deferred income on shipments to
distributors 189,992 194,940 141,898
Current portion of long-term
debt and capital lease
obligations 45,139 42,408 43,224
Other current liabilities 175,947 168,220 161,807
---------------------------------- ----------- ----------- -----------
Total current liabilities 1,754,489 1,948,524 1,821,961
Deferred income taxes 90,323 104,980 92,606
Long-term debt and capital lease
obligations 647,109 615,874 1,327,065
Other long-term liabilities 450,289 428,074 459,322
Minority interest in consolidated
subsidiaries 267,095 244,672 234,988
Stockholders' equity:
Capital stock:
Common stock, par value 4,854 4,832 4,355
Capital in excess of par value 3,921,786 3,869,620 2,710,168
Retained earnings 747,160 658,262 473,678
Accumulated other comprehensive
income 178,790 177,207 163,636
---------------------------------- ----------- ----------- -----------
Total stockholders' equity 4,852,590 4,709,921 3,351,837
---------------------------------- ----------- ----------- -----------
Total Liabilities and
Stockholders' Equity $8,061,895 $8,052,045 $7,287,779
================================== =========== =========== ===========
(a) Derived from the December 25, 2005 audited financial statements of
Advanced Micro Devices, Inc.
Advanced Micro Devices, Inc.
SELECTED CORPORATE DATA
(Unaudited)
(Millions except headcount and percentages)
Quarter Ended Six Months Ended
----------------------- ---------------------------- -----------------
Jul. 2, Mar. 26, Jun. 26, Jul. 2, Jun. 26,
Segment Information (6) 2006 2006 2005 2006 2005
----------------------- -------- --------- --------- -------- --------
Computation Products (2)
Net sales $ 1,172 $ 1,299 $ 767 $ 2,471 $1,517
Operating income 113 284 99 398 181
Embedded Products (3)
Net sales 44 38 30 82 60
Operating loss (6) (11) (12) (17) (26)
All Other (4)
Net sales - (5) - (5) -
Operating loss (5) (14) (4) (20) (8)
Subtotal (excluding Memory
Products segment)
Net sales 1,216 1,332 797 2,548 1,577
Operating income 102 259 83 361 147
Memory Products (5)
Net sales - - 462 - 910
Operating loss - - (90) - (199)
Total AMD
Net sales 1,216 1,332 1,260 2,548 2,487
Operating income
(loss) 102 259 (7) 361 (53)
----------------------- -------- --------- --------- -------- --------
Other Data (AMD excluding Memory Products segment)
Gross margin % 56.8% 58.5% 58.0% 57.6% 55.4%
Research and
development expenses $ 279 $ 264 $ 199 $ 543 $382
Marketing, general and
administrative
expenses $ 310 $ 256 $ 181 $ 566 $345
Depreciation &
amortization $ 193 $ 174 $ 174 $ 367 $361
Capital additions $ 455 $ 310 $ 232 $ 765 $682
Headcount 10,967 10,246 8,843 10,967 8,843
International sales % 70.2% 69.5% 68.6% 69.8% 69.5%
----------------------- -------- --------- --------- -------- --------
EBITDA (1) $ 318 $ 417 $ 352 $ 735 $690
----------------------- -------- --------- --------- -------- --------
(1) RECONCILIATION OF NET INCOME (LOSS) TO EBITDA(a)
Net income (loss) $ 89 $ 185 $ 11 $ 273 $ (6)
Depreciation and
amortization 193 174 318 367 651
Interest expense 18 23 26 41 50
Provision (benefit)
for income taxes 18 35 (3) 54 (5)
----------------------- -------- --------- --------- -------- --------
EBITDA $ 318 $ 417 $ 352 $ 735 $ 690
(a) Starting Q106, the Company defines EBITDA as net income (loss)
adjusted for interest expense, tax, depreciation and amortization.
Prior period information has been restated to conform to current
period presentation.
(2) Computation Products segment includes PC processors and Chipsets.
(3) Embedded Products segment, formerly known as Personal Connectivity
Solution Products, includes Embedded Processors and Products for
global commercial and consumer markets.
(4) The All Other category includes certain operating expenses and
credits that are not allocated to the operating segments and,
starting Q305, includes Personal Internet Communicator (PIC)
products.
(5) Memory Products segment included Flash memory products of AMD and
Spansion. Spansion closed its IPO on Dec 21, 2005. Since that
time, AMD uses the equity method of accounting to reflect its
proportionate share of Spansion's net income (loss).
(6) Starting Q405, the Company has allocated bonus and profit sharing
expenses to the segments. Prior period information has been
restated to conform to current period presentation.
Note: Figures may not foot due to rounding
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