AMD Reports Third Quarter Results (Revenue up 14%)

SUNNYVALE, Calif.—(BUSINESS WIRE)—October 16, 2008— AMD (NYSE:AMD) today reported third quarter 2008 revenue from continuing operations of $1.776 billion, including process technology license revenue of $191 million. Third quarter 2008 revenue increased 32 percent compared to the second quarter of 2008 and 14 percent compared to the third quarter of 2007.

 

In the third quarter of 2008, AMD reported a net loss of $67 million, or $0.11 per share. For continuing operations, third quarter 2008 income was $41 million, or $0.07 per share, including the process technology license revenue of $191 million, or $0.31 a share. Third quarter 2008 operating income was $131 million. Loss from discontinued operations was $108 million, or $0.18 a share.

Reconciliation of GAAP to Non-GAAP Net Income (Loss)1

(Millions except per share amounts) Q3-08 Q2-08 Q3-07
GAAP net loss / EPS $ (67 ) $ (0.11 ) $ (1,189 ) $ (1.96 ) $ (396 ) $ (0.71 )
Loss from discontinued operations (108 ) (0.18 ) (920 ) (1.52 ) (52 ) (0.09 )
Income (loss) from continuing operations 41 0.07 (269 ) (0.44 ) (344 ) (0.62 )
Gain on sale of 200mm equipment - - 193 0.32 - -
Marketable securities impairment charges - - (36 ) (0.06 ) (42 ) (0.08 )
Amortization of acquired intangibles, integration and other charges (30 ) (0.05 ) (30 ) (0.05 ) (41 ) (0.07 )
Restructuring charges (9 ) (0.01 ) (30 ) (0.05 ) - -
Non-GAAP net income (loss) $ 80 $ (366 ) $ (261 )

Reconciliation of GAAP to Non-GAAP Operating Income (Loss) 1

(Millions) Q3-08 Q2-08 Q3-07
GAAP operating income (loss) $ 131 $ (143 ) $ (181 )
Gain on sale of 200mm equipment - 193 -
Amortization of acquired intangibles, integration and other charges (30 ) (30 ) (41 )
Restructuring charges (9 ) (30 ) -
Non-GAAP operating income (loss) $ 170 $ (276 ) $ (140 )

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