Friday, April 20, 2007
AMD reported first-quarter 2007 revenue of $1.233 billion and a net loss of $611 milliom compare to the first quarter of 2006 with revenue of $1.332 billion and a profit of $185 million.
The first-quarter results include ATI acquisition-related and integration charges of $113 million, or $0.21 per share, and employee stock-based compensation expense of $28 million, or $0.05 per share.
''After more than three years of successfully executing our customer expansion strategy and significantly growing our unit and revenue base, our first quarter performance is disappointing and unacceptable,'' said Robert J. Rivet, AMD's chief financial officer, in a statement.
''We are aggressively addressing the issues that led to our significant revenue decline. We are aligning our business model, capital expenditures and cost structure with the goal of accelerating our return to profitability. Lastly, our customer relationships remain solid, reflecting their confidence in our strategic direction, current and new products, and technology roadmaps,'' he said.
By: DocMemory
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