Thursday, July 15, 2004
AMD Q2 marked a swing to profitability compared to the same period last year as the company nearly doubled its sales.
Flash memory sales reached record levels driving total sales for Q2 to $1.26 billion, a 96 percent increase year over year and 2 percent increase sequentially.
The company, mostly known for its microprocessors, posted net income of $32 million for Q2 compared with a net loss of $140 million for the year ago quarter and net income of $45 million in Q1.
AMD announced the results just hours after the market battered its rival Intel for its lowered gross margin forecast and increased inventories.
"We achieved record Spansion flash memory sales in the second quarter and more than tripled operating income from $14 million to $45 million," said Robert Rivet, CFO, in a statement. "Spansion maintained clear leadership in the NOR flash memory market. In addition, accelerating AMD Opteron and Mobile Athlon 64 processor sales contributed to a double-digit operating margin for our microprocessor business
By: DocMemory
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