AMD Reports First Quarter Results

Q1 2012 Results

- AMD revenue $1.59 billion, 6 percent sequential decrease and a 2 percent decrease year-over-year
- Net loss $590 million, loss per share $0.80, operating loss $580 million
- Non-GAAP(7) net income $92 million, earnings per share $0.12, operating income $138 million
- Gross margin 2 percent, non-GAAP gross margin 46 percent

AMD (NYSE:AMD) today announced revenue for the first quarter of 2012 of $1.59 billion, net loss of $590 million, or $0.80 per share, and operating loss of $580 million. The company reported non-GAAP net income of $92 million, or $0.12 per share, and non-GAAP operating income of $138 million. First quarter non-GAAP net income excludes: the previously disclosed charge of $703 million for a limited waiver of exclusivity of certain 28 nanometer (nm) APU products from GLOBALFOUNDRIES Inc.(GF) related to the 2012 Amendment to the Wafer Supply Agreement; amortization of acquired intangible assets of $1 million; a restructuring charge of $8 million; SeaMicro, Inc. (SeaMicro) acquisition costs of $6 million, and a tax benefit related to the SeaMicro acquisition of $36 million.

“AMD delivered solid results in the first quarter as we remain focused on improving our execution, delivering innovative products, and building a company around a strategy to deliver strong cash flow and earnings growth,” said Rory Read, AMD president and CEO. “A complete top-to-bottom introduction of new APU offerings, combined with ample product supply resulting from continued progress with our manufacturing partners, positions us to win and grow.”

The full report can be seen at http://www.amd.com/us/press-releases/Pages/press-release-2012apr19-p.aspx