Summary
Advanced Micro Devices, Inc. (AMD) filed a Form 8-K on October 17, 2002, reporting its financial results for the third quarter ended September 29, 2002. The company reported a net loss of $254,171,000, or $0.74 per share, on sales of $508,227,000. This represents a significant decline in both sales and an increased net loss compared to both the prior year's third quarter and the immediately preceding second quarter of 2002. For the first nine months of 2002, AMD's sales also showed a substantial year-over-year decline, and the company incurred a net loss of $448,272,000. These results indicate a challenging period for AMD, with a notable downturn in revenue and profitability during the reporting period. Investors should note the significant year-over-year and sequential decreases in sales and the widening net loss, which are key metrics to monitor for the company's performance.
Key Highlights
- 1Reported third quarter 2002 sales of $508,227,000.
- 2Recorded a net loss of $254,171,000 for the third quarter of 2002, translating to a loss of $0.74 per share (GAAP).
- 3Third quarter sales decreased by 34% compared to the third quarter of 2001.
- 4Third quarter sales declined by 15% sequentially from the second quarter of 2002.
- 5For the first nine months of 2002, sales were $2,010,599,000, a 32% decrease from the same period in 2001.
- 6Incurred a net loss of $448,272,000 for the first nine months of 2002, or $1.31 per share.
- 7Excludes financial statements as Exhibit 99.1.