8-KOther Events

ADVANCED MICRO DEVICES INC 8-K Report (Jan 20, 2004)

Filed January 20, 2004For Securities:AMD

Summary

Advanced Micro Devices, Inc. (AMD) filed an 8-K report on January 20, 2004, to announce its financial results for the quarter and year ended December 28, 2003. The filing includes a press release (Exhibit 99.1) detailing these results. Investors should note that the press release contains non-GAAP financial measures, including EBITDA, which AMD's management believes is useful for understanding the company's capital structure and borrowing capacity. However, AMD explicitly states that EBITDA is not a GAAP measure and should not be considered a substitute for net income or cash flow metrics. Investors are advised to review the reconciliations provided in the press release to understand how these non-GAAP measures are derived from GAAP figures.

Key Highlights

  • 1AMD announced its financial results for the quarter and year ended December 28, 2003.
  • 2The company is furnishing its earnings release (Exhibit 99.1) as part of this 8-K filing.
  • 3The earnings release includes non-GAAP financial measures, such as EBITDA.
  • 4AMD explains that EBITDA is calculated by adjusting net income for interest income, interest expense, income tax, depreciation, and amortization.
  • 5Management believes EBITDA offers insights into the company's capital structure and ability to secure additional funding.
  • 6AMD emphasizes that EBITDA is not a GAAP measure and should not replace GAAP metrics like net income or cash flows.
  • 7Reconciliations between non-GAAP and GAAP financial measures are provided within the press release.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Advanced Micro Devices, Inc.'s (AMD) financial results for the fourth quarter and full fiscal year ended December 28, 2003. The detailed financial information is provided in an attached press release.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a non-GAAP financial measure that AMD is presenting. Management believes it is useful for investors and lenders to assess the company's capital structure and its capacity for borrowing additional funds. However, AMD stresses that it is not a GAAP measure and should not be used as a substitute for GAAP financial results.

The actual financial results for the quarter and year ended December 28, 2003, are detailed in the press release dated January 20, 2004, which is attached as Exhibit 99.1 to this 8-K filing.

The press release contains both GAAP and non-GAAP financial measures. AMD explicitly states that EBITDA is a non-GAAP measure. The company has provided reconciliations within the press release to show how these non-GAAP measures relate to the most directly comparable GAAP financial measures.