Summary
Advanced Micro Devices Inc. (AMD) filed an 8-K on April 24, 2002, reporting its financial results for the quarter ended March 31, 2002. The company reported total sales of $902 million, a 24% decrease year-over-year compared to $1.19 billion in Q1 2001, and a 5% decrease from the prior quarter. AMD reported a net loss of $9.16 million, or $0.03 per share, a significant improvement from the net loss of $15.84 million ($0.05 per share) in Q4 2001, but a stark contrast to the net income of $124.84 million ($0.37 per share) in Q1 2001. Despite the overall sales decline, the company achieved a record in PC processor unit sales during the quarter. However, processor sales revenue saw a modest 3% increase year-over-year to $684 million, while declining 3% sequentially. A significant drag on performance was the memory products segment, which saw sales plummet to $160 million from $411 million in the prior year's quarter, highlighting a continued weakness in this area.
Key Highlights
- 1Reported total sales of $902,073,000 for the quarter ended March 31, 2002.
- 2Announced a net loss of $9,163,000, or $0.03 per share, for the quarter.
- 3Achieved record PC processor unit sales during the first quarter of 2002.
- 4Total sales declined 24% from the same period in 2001 and 5% from the fourth quarter of 2001.
- 5PC processor sales revenue grew 3% year-over-year to $684 million, but declined 3% sequentially.
- 6Sales of memory products, primarily flash memory, were significantly down at $160 million, compared to $411 million in Q1 2001.