Summary
Advanced Micro Devices (AMD) filed an 8-K on July 19, 2002, reporting its financial results for the second quarter ended June 30, 2002. The company announced a net loss of $184.9 million, or $0.54 per share, on sales of $600.3 million. This represents a significant decline from both the prior year's second quarter and the preceding first quarter of 2002. Investors should note the substantial year-over-year and sequential decreases in overall sales, particularly within the PC processor segment. While memory product sales saw a sequential increase, they declined sharply compared to the same period last year. The report highlights a challenging quarter for AMD, marked by substantial revenue contraction and a widening net loss, indicating potential headwinds in its core markets.
Key Highlights
- 1Reported Q2 2002 net loss of $184.9 million, or $0.54 per share, on sales of $600.3 million.
- 2Overall sales declined 39% year-over-year (Q2 2001 sales were $985.3 million) and 33% sequentially (Q1 2002 sales were $902.1 million).
- 3First six months of 2002 sales down 31% year-over-year, with a net loss of $194.1 million.
- 4PC processor sales fell 35% year-over-year to $380 million and 44% sequentially.
- 5Memory product sales decreased 45% year-over-year to $175 million, but increased 9% sequentially.
- 6AMD flash memory unit shipments increased in Q2 2002 with record bit shipments.