Ahead of the Bell: AMD to report 1Q results

[v_rr]

AMD seen benefiting from 'bottomed out' PC sales that Intel saw in 1st quarter
SAN FRANCISCO (AP) -- Advanced Micro Devices Inc. is expected to post a wider first-quarter loss as the chip maker's sales keep suffering from a global slowdown in personal computer sales, though bigger rival Intel Corp.'s claim that PC sales have "bottomed out" is providing some hope that the numbers won't be terrible.

Sunnyvale-based AMD reports its quarterly numbers Tuesday after the market closes.

Analysts expect a loss of 66 cents per share and sales of $977.8 million, which represents a 35 percent drop from last year.

AMD is trying to shore up its finances by spinning off its manufacturing division -- one of the most significant moves in the company's 40-year history -- in a joint venture with the Abu Dhabi government. That deal got shareholders' OK in February.

http://finance.yahoo.com/news/Ahead-of-the-Bell-AMD-to-apf-14980847.html?.v=1

[Shintai]

Another 400-500mio loss on less than 1B revenue? Those factory spinoff money is gone pretty fast.

[Kai Robinson]

Strange, its share price has been steadily getting better over the last month...

[deeperblue]

Let's wait for the gory details tonight.
I expect it takes some time that we can see/feel the effect of the spin-off.

[Face]

AMD 1Q loss widens, though not as badly as feared

AMD first-quarter loss widens, though not as badly as Street feared

SAN FRANCISCO (AP) -- Advanced Micro Devices Inc. says its loss widened in the first quarter because of falling demand for its microprocessors.

The loss of $416 million, or 66 cents per share, wasn't as bad as Wall Street projected, though.

Without one-time charges, the loss would have been 62 cents per share.

On that same basis, analysts polled by Thomson Reuters expected a loss of 66 cents per share.

In the first quarter last year, AMD's loss was $364 million, or 60 cents per share.

Sales dropped 21 percent to $1.18 billion. That was higher than estimates of $978 million.

AMD expects sales to fall in the current quarter.


http://finance.yahoo.com/news/AMD-1Q-loss-widens-though-not-apf-14989590.html?.v=2


AMD Reports First Quarter Results

SUNNYVALE, Calif.--(BUSINESS WIRE)--AMD (NYSE:AMD - News) today reported first quarter 2009 results.

For financial reporting purposes, AMD consolidates the operating results of GLOBALFOUNDRIES Inc. in its results as of March 2, 2009 and has created the Foundry segment as of the start of the fiscal year. References to “AMD” in this announcement include these consolidated operating results which are reported for GAAP purposes. “AMD Product Company” refers to AMD, excluding the operating results of the Foundry segment and intersegment eliminations1,2.

AMD reported revenue for first quarter of 2009 of $1.177 billion. First quarter 2009 revenue was flat compared to the fourth quarter of 2008 and decreased 21 percent compared to the first quarter of 2008.

“AMD’s sequential microprocessor unit and revenue growth in difficult economic conditions demonstrate we can grow in an environment where customers are looking for maximum value,” said Dirk Meyer, AMD president and CEO. “We delivered on a number of important priorities in the first quarter. We launched GLOBALFOUNDRIES, maintained our cadence of new product and platform introductions, and made solid progress on our restructuring activities. The result is a more nimble AMD, capable of achieving long-term success based on our strengths designing and integrating industry-leading computing and graphics technologies.”

In the first quarter of 2009, AMD reported a net loss attributable to AMD common stockholders of $416 million or $0.66 per share, which includes a net unfavorable impact of $22 million, or $0.04 per share, as described in the table below3. AMD’s operating loss was $308 million.

In the fourth quarter of 2008, AMD had revenue from continuing operations of $1.162 billion, a net loss of $1.437 billion and an operating loss of $1.274 billion. In the first quarter of 2008, AMD had revenue from continuing operations of $1.487 billion, a net loss of $351 million and an operating loss of $234 million.

In the first quarter of 2009, AMD Product Company reported an adjusted non-GAAP net loss of $189 million and an adjusted non-GAAP operating loss of $124 million.

First quarter 2009 AMD gross margin was 43 percent, including a positive impact of 5 percentage points due to a $64 million benefit from the sale of inventory written down in the fourth quarter of 2008. Fourth quarter 2008 gross margin was 23 percent, including a negative impact of 20 percentage points due to a $227 million inventory write down. First quarter 2009 AMD Product Company non-GAAP gross margin was 35 percent.


http://finance.yahoo.com/news/AMD-Reports-First-Quarter-bw-14989194.html?.v=1

[v_rr]

ATI department give 1 Milion profit :p:

http://finance.yahoo.com/news/AMD-Reports-First-Quarter-bw-14989194.html?.v=1

Anyone understood this part? The values and meaning.

(2) The Company believes this non-GAAP presentation makes it easier for investors to understand what AMD financial results would be if it were not required to consolidate the operations of GLOBALFOUNDRIES.

[trinibwoy]

Yeah, lol was just about to comment on their $1M profit. Though at the expense of lower units shipped and lower ASPs.

GAAP is an accounting standard. They're just saying that presenting the numbers before applying GAAP rules makes it easier for investors to understand what happened with the foundry spinoff.

[RejZoR]

Stock exchange is load of bollocks if you ask me and doesn't even nearly reflect the real situation. It changes just the same as wind without any real reasons. If AMD's CEO sneezes and stocks will fall. If someone from Intel says, our next CPU's will rock, stocks go up. Lol, isn't that idiotic?

[haylui]

Stock exchange is load of bollocks if you ask me and doesn't even nearly reflect the real situation. It changes just the same as wind without any real reasons. If AMD's CEO sneezes and stocks will fall. If someone from Intel says, our next CPU's will rock, stocks go up. Lol, isn't that idiotic?

not entirely true...
launch of Nehalem doesn't push Intel stock higher by $1 overnight.
Anyway, if stock is rising meaning that the investors are gaining confident in AMD. That's it.

[Shintai]

not entirely true...
launch of Nehalem doesn't push Intel stock higher by $1 overnight.
Anyway, if stock is rising meaning that the investors are gaining confident in AMD. That's it.

Or the entire market is climbing, or manipulation.

[geo]

ATI department give 1 Milion profit :p:


thats shocking considering they are selling a lot more GPU's compared to before?

[Shintai]

thats shocking considering they are selling a lot more GPU's compared to before?

They are selling less. The revenue is down to about 222mio. Peaked at almost 450mio. But they have a good balance with production/demand. Plus some layoffs.

[trinibwoy]

thats shocking considering they are selling a lot more GPU's compared to before?

The profit could be due to improved margins and/or inventory management. But units shipped is down sequentially and versus Q1-08 as well.