AMD Reports Fourth Quarter and Annual Results
Subject: General Tech | January 23, 2007 - 10:53 PM | Jeremy Hellstrom
SUNNYVALE, Calif.â€” Jan. 23, 2007 â€” AMD (NYSE: AMD) today reported financial results for the quarter ended December 31, 2006. As a result of AMD's acquisition of ATI, fourth quarter financial results include the results of the former ATI operations beginning October 25, 2006. Because comparison of fourth quarter consolidated financial results to previous periods do not correlate directly, AMD has provided non-GAAP financial measures for AMD's historical business (pre-acquisition AMD). Management believes this non-GAAP presentation will aid investors by presenting current and historical results in a form that makes it easier to compare current period results with historical results.
AMD reported fourth quarter 2006 revenue of $1.77 billion, an operating loss of $527 million, and a net loss of $574 million, or $1.08 per share. These results include acquisition-related and integration charges of $550 million, or $1.04 per share, and $27 million of employee stock-based compensation expense, or $0.05 per share.