AMD Updates Second Quarter Outlook; Anticipates Lower Than Expected Second Quarter Sales.Business Editors/High-Tech Writers SUNNYVALE, Calif.--(BUSINESS WIRE)--June 24, 2003 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 announced that sales for the second quarter ending June 29, 2003 are anticipated to be approximately $615 million. The Company's projection made in connection with the release of first quarter results was for second quarter sales to be at least $715 million. "The anticipated global sales improvement in the month of June did not materialize as we had anticipated," said Robert J. Rivet, AMD's Chief Financial Officer. "In particular, the decline in personal computer and handset sell-through in China and other Asian markets, largely related to the SARS epidemic, significantly affected AMD's sales in the second quarter." AMD will report its second quarter 2003 results on July 16, 2003. Cautionary Statement This release contains forward-looking statements, 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 uncertainty that could cause actual results to differ materially from current expectations. Risks include the possibility that sales currently anticipated to occur near the end of the quarter will not be achieved, resulting in lower than currently expected sales in the quarter; that Intel Corporation (company) Intel Corporation - A US microelectronics manufacturer. They produced the Intel 4004, Intel 8080, Intel 8086, Intel 80186, Intel 80286, Intel 80386, Intel 486 and Pentium microprocessor families as well as many other integrated circuits and personal computer networking 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 processor business will prevent attainment of the company's current expectation for PC processor sales in the second quarter; that demand for personal computers and, in turn, demand for the company's PC processors will be lower than currently expected; and that demand for the company's Flash memory products will be lower than currently expected. We urge investors to review in detail the risks and uncertainties in the company's Securities and Exchange Commission filings, including but not limited to the report on Form 10-K Form 10-K 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 29, 2002 and the report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 30, 2003. About AMD 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 (NYSE: AMD) is a global supplier of integrated circuits for the personal and networked computer and communications markets with manufacturing facilities in the United States, Europe, Japan, and Asia. AMD, a Standard & Poor's 500 company, produces microprocessors, Flash memory devices, and silicon-based solutions for communications and networking applications. AMD on the Web For more AMD news and product information, please visit our virtual pressroom at www.amd.com/news/virtualpress/index.html. Additional press releases are available at www.amd.com/news/news.html. AMD, the AMD Arrow logo, AMD Athlon, AMD Opteron, and combinations thereof, are trademarks of Advanced Micro Devices, Inc. Other product and company names are for informational purposes only and may be trademarks of their respective companies. |
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