AMD Reports 2013 Fourth Quarter and Annual Results

SUNNYVALE, CA -- (Marketwired) -- Jan 21, 2014 -- AMD (NYSE: AMD)

Q4 2013 Results

  • AMD revenue of $1.59 billion, increased 9 percent sequentially and 38 percent year-over-year
  • Gross margin of 35 percent
  • Operating income of $135 million and non-GAAP(1) operating income of $91 million
  • Net income of $89 million, earnings per share of $0.12 and non-GAAP(1) net income of $45 million, earnings per share of $0.06

2013 Annual Results

  • AMD revenue of $5.3 billion, down 2 percent year-over-year
  • Gross margin of 37 percent
  • Operating income of $103 million
  • Net loss of $83 million and loss per share of $0.11

AMD (NYSE: AMD) today announced revenue for the fourth quarter of 2013 of $1.59 billion, operating income of $135 million and net income of $89 million, or $0.12 per share. The company reported non-GAAP operating income of $91 million and non-GAAP net income of $45 million, or $0.06 per share.

For the year ended December 28, 2013, AMD reported revenue of $5.3 billion, operating income of $103 million and a net loss of $83 million, or $0.11 per share.

"Strong execution of our strategic transformation plan drove significant revenue growth and improved profitability in the fourth quarter," said Rory Read, AMD president and CEO. "The continued ramp of our semi-custom SoCs and leadership graphics products resulted in a 38 percent revenue increase from the year ago quarter. Our focus in 2014 is to deliver revenue growth and profitability for the full year by leveraging our differentiated IP to drive success in our targeted new markets and core businesses."

                                                                            
                           GAAP Financial Results                           
                                                                            
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                         Q4-13      Q3-13      Q4-12      2013       2012   
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Revenue                 $1.59B     $1.46B     $1.16B     $5.30B     $5.42B  
----------------------------------------------------------------------------
Operating income         $135M      $95M      $(422)M     $103M    $(1.06)B 
 (loss)                                                                     
----------------------------------------------------------------------------
Net income (loss) /   $89M/$0.12 $48M/$0.06 $(473)M/   $(83)M/     $(1.18)B/
 Earnings (loss) per                         $(0.63)    $(0.11)     $(1.60)  
 share                                                                      
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            
                        Non-GAAP(1) Financial Results                       
                                                                            
----------------------------------------------------------------------------
                         Q4-13      Q3-13      Q4-12      2013       2012   
----------------------------------------------------------------------------
Revenue                 $1.59B     $1.46B     $1.16B     $5.30B     $5.42B  
----------------------------------------------------------------------------
Operating income         $91M       $78M      $(55)M      $103M      $45M   
 (loss)                                                                     
----------------------------------------------------------------------------
Net income (loss) /   $45M/$0.06 $31M/$0.04 $(102)M/   $(83)M/     $(114)M/
 Earnings (loss) per                         $(0.14)    $(0.11)     $(0.16)  
 share                                                                                                                              
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