Advanced Micro Devices Reports Record Sales and Operating Income In First Quarter.SUNNYVALE, Calif.--(BUSINESS WIRE)--April 10, 1995--Advanced Micro Devices (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 record sales and 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. in the first quarter of 1995. For the period ending April 2, 1995, the company had sales of $620,096,000, up 21 percent from the same period in 1994 when sales were $513,080,000. Operating income for the first quarter of 1995 was a record $139,878,000, up 15 percent from the $121,528,000 reported in the same period of 1994. Net income for the period before the preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. dividend was $96,801,000, or $0.91 per common share 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, an increase of 14 percent over the first quarter of 1994 when net income before the preferred stock dividend was $84,587,000 or $0.82 per share on a fully diluted basis. "Continuing strong demand for our products and outstanding operational execution resulted in excellent year-over-year growth for AMD," 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. "Sequential sales growth was 14 percent over the immediate prior quarter. The growth was primarily driven by strong market demand for our Am486 microprocessors This is a list of microprocessors. Intel
"The successful transition to 0.5-micron process technology late last year enabled us to increase overall Am486 unit shipments by more than 50 percent compared to the immediate prior quarter, Sanders said. "We are selling a richer mix of higher-speed versions of the Am486 microprocessor. In the quarter, we saw robust customer demand for 80 and 100 MHz (MegaHertZ) One million cycles per second. It is used to measure the transmission speed of electronic devices, including channels, buses and the computer's internal clock. A one-megahertz clock (1 MHz) means some number of bits (16, 32, 64, etc. 486 devices. We shipped more than 50 percent of our 486s at 80 MHz or higher speeds." During the quarter, product shipments from the AMD/Fujitsu joint venture (FASL FASL Feet Above Sea Level FASL Fujitsu Amd Semiconductor Limited FASL Fellow, Academic Society of London ) contributed to revenue for the first time. The FASL fab, located in Aizu-Wakamatsu, Japan, is currently ramping 0.5 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. production of 4 megabit One million bits. Also Mb, Mbit and M-bit. See mega and space/time. and 16 megabit flash devices. "Demand for our flash memory devices is currently outstripping our ability to supply," Sanders said. CMOS (Complementary Metal Oxide Semiconductor) Pronounced "c-moss." The most widely used integrated circuit design. It is found in almost every electronic product from handheld devices to mainframes. programmable logic devices See PLD. set a new quarterly sales record led by the MACH family. The Am29000 Family of embedded processors A CPU chip used in a system other than a general purpose workstation, desktop or laptop computer. Such chips are used by the billions every year in a myriad of products. See embedded system. also achieved a new quarterly sales record, as did communications products driven by growing demand for AMD's family of ethernet devices. "The book-to-bill ratio Book-to-Bill Ratio The technology industry's demand-to-supply ratio for orders on a "firm's book" to number of orders filled. Notes: This ratio tells whether the company has more orders than it can deliver (if greater than 1), has the same amount of orders that it can in the first quarter exceeded 1:1 encouraging us to anticipate continued revenue growth," Sanders concluded. Advanced Micro Devices, Inc., is now the fourth-largest U.S.-based merchant manufacturer 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. . Focusing on the personal and networked computing computing - computer and communications markets, AMD produces microprocessors and related peripherals, memories, programmable logic devices along with circuits for telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and networking applications. AMD has sales offices worldwide and has manufacturing facilities 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. ; Austin, Texas; Bangkok Bangkok (băng`kŏk'), Thai Krung Thep, city (1990 pop. 8,538,610), capital of Thailand and of Bangkok prov., SW Thailand, on the east bank of the Chao Phraya River, near the Gulf of Thailand. , Thailand; Penang, Malaysia; Singapore; Aizu-Wakamatsu, Japan and Basingstoke, England. -0-
Advanced Micro Devices, Inc.
CONSOLIDATED STATEMENTS OF INCOME
(Thousands except per share amounts)
Quarter Ended
(Unaudited)
Apr. 2, Dec. 25, Mar. 27,
1995 1994 1994
Net sales $620,096 $545,168 $513,080
Cost of sales 290,772 263,837 230,437
Research and development 92,500 76,115 68,221
Marketing, general, and
administrative 96,946 87,236 92,894
480,218 427,188 391,552
Operating income 139,878 117,980 121,528
Litigation settlement - (58,000) -
Interest income
and other, net 6,713 5,317 4,182
Interest expense (1) (1) (739)
Income before income
taxes and equity
in joint venture 146,590 65,296 124,971
Provision for income taxes 48,375 21,548 39,990
Income before equity in
joint venture 98,215 43,748 84,981
Equity in net income(loss) of
joint venture (1,414) (2,989) (394)
------- ------- -------
Net income 96,801 40,759 84,587
Preferred stock dividends 10 2,588 2,588 Net income applicable to common stockholders $ 96,791 $ 38,171 $ 81,999 Net income per common share -Primary $ 0.96 $ 0.39 $ 0.85 -Fully diluted $ 0.91 $ 0.39 $ 0.82 Shares used in per share calculation -Primary 101,012 98,636 96,233 -Fully diluted 106,717 105,490 103,670 --------------------------------------------------------------
Advanced Micro Devices, Inc.
CONSOLIDATED BALANCE SHEETS
(Thousands)
April 2, December 25,
1995 1994
(Unaudited) (Audited)
Assets
Current assets:
Cash, cash equivalents,
and short-term investments $ 487,528 $ 377,854
Accounts receivable, net 339,080 337,107
Inventories 125,262 128,690
Deferred income taxes 98,675 98,675
Prepaid expenses
and other current assets 30,819 44,293
Total current assets 1,081,364 986,619
Property, plant, and equipment, net 1,406,006 1,264,211 Investment in joint venture 140,327 124,588 Other assets 74,314 70,284
$2,702,011 $2,445,702
Liabilities and Stockholders' Equity
Current liabilities:
Notes payable to banks $ 34,104 $ 32,459
Accounts payable 165,437 149,122
Accrued compensation
and benefits 82,718 104,526
Accrued liabilities 79,840 82,570
Litigation settlement 20,000 58,000
Income tax payable 95,027 53,795
Deferred income on
shipments to distributors 90,978 83,800
Current portion of
long-term debt and capital
lease obligations 29,066 27,895
Total current liabilities 597,170 592,167
Deferred income taxes 42,518 42,518 Long-term debt and capital lease obligations, less current portion 219,906 75,752
Stockholders' equity:
Capital stock:
Serial preferred stock, par value - 34
Common stock, par value 1,032 956
Capital in excess of par value 707,258 698,673
Retained earnings 1,134,127 1,035,602
Total stockholders' equity 1,842,417 1,735,265
$2,702,011 $2,445,702
-0- Note to Editors: Am486 is a registered trademark of Advanced Micro Devices, Inc. Am29000 is a trademark of Advanced Micro Devices, Inc. MACH is a trademark of Advanced Micro Devices, Inc. CONTACT: Advanced Micro Devices, Inc. Chuck Mulloy, 408/749-5481 |
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