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AMD presents Q2 results with small profit

Posted on Thursday, July 14 2005 @ 08:36:21 CEST by


AMD yesterday reported sales of $1.26 billion and net income of $11 million, amounting to $0.03 per diluted share, for the quarter ended June 26, 2005.

Second quarter sales were flat compared to the second quarter of 2004 and increased three percent from the first quarter of 2005. In the second quarter of 2004, AMD reported sales of $1.262 billion and net income of $32 million, or $0.09 per diluted share. In the first quarter of 2005, AMD reported sales of $1.227 billion and a net loss of $17 million, or $0.04 per share. The operating loss was $7 million as compared to operating income of $72 million in the second quarter of 2004 and an operating loss of $46 million in the first quarter of 2005.

"Our microprocessor business delivered another record quarter driven by increased demand for AMD server and mobile processors from our largest global OEM customers," said Robert J. Rivet, AMD's chief financial officer. "Once again we continued to gain momentum with microprocessor sales growth increasing 38 percent compared to the second quarter of 2004. The solid overall demand was enhanced by our newer processor offerings. Strong Dual-Core AMD Opteron(TM) processor sales contributed to an 89 percent revenue increase in our server products from the prior quarter. This demonstrates the acceptance of the AMD64 platform by enterprise customers. Likewise, the AMD Turion(TM)64 processor captured more than 60 design wins and drove record mobile sales in the thin-and-light mobile PC category."

"Memory Products Group sales increased slightly in the quarter, driven by record MirrorBit(TM) Flash memory sales and overall higher unit demand."

Second quarter gross margin was 39 percent compared to 34 percent in the first quarter of 2005. The improvement was largely due to record Computation Products Group (CPG) gross margins.

Record CPG sales of $767 million increased 38 percent from the second quarter of 2004 and increased two percent from $750 million in the first quarter of 2005. CPG generated record operating income of $110 million in the second quarter, up from $92 million in the first quarter of 2005. CPG's second quarter sales growth was driven by record server and mobile processor sales, a six percent higher overall average selling price, and record sales to our largest global OEM customers. Geographically, sales were especially strong in China, North America and all of our high-growth markets.

Memory Products Group sales of $462 million decreased 31 percent from the second quarter of 2004 and increased three percent from $447 million in the first quarter or 2005. Memory Products Group incurred an operating loss of $90 million, as compared to an operating loss of $110 million in the first quarter of 2005. MirrorBit Flash memory sales accelerated to more than 20 percent of total Memory Products Group sales in the quarter, with increased wireless demand for second-generation, 110nm MirrorBit devices. Quarter-over-quarter, sales in Europe and the Americas increased and unit volume shipments were up twelve percent.

AMD's outlook statements are based on current expectations. The following statements are forward looking, and actual results could differ materially depending on market conditions.

-- AMD expects microprocessor sales growth to exceed normal seasonal patterns.

-- Because of Spansion's SEC Form S-1 filing, AMD is not providing guidance for the Flash memory business.

More details regarding AMD's Q2 results can be found on its homepage.

AMD is a small fish compared to its main competitor Intel who posted a revenue of $9.4 billion and net income of $2.2 billion for the first quarter of this year. Intel's second quarter results aren't disclosed yet.


 



 

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