AMD Reports Fourth Quarter and Annual Results

Subject: General Tech | January 23, 2007 - 02:53 PM |
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SUNNYVALE, Calif.— Jan. 23, 2007 — 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[1] 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.

Source: AMD
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