AMD’s net income for the past quarter was $510 million, generated from $1.61 billion in total revenues. That are supposed to make happy reading for an organization that’s been raising similar gross revenues previously but finding itself losing cash — though the more intriguing figures are just a little deeper in its latest disclosure. CFO and interim CEO Thomas Seifert has noted that AMD “tripled” its Fusion APU shipments relative to last quarter — meaning that at the very least 3.9 million units have made their way out to OEM partners in Q1 — which now account for “roughly half” of the corporate’s notebook shipments. In less upbeat news, average selling prices in both the microprocessor and graphics divisions were down sequentially, with AMD having to react to pressure from its traditional foes Intel and NVIDIA. You would surmise that with the mainstream Llano APU out and shipping to computer makers, AMD might need a happier second quarter, however the company’s guidance is for revenues to be flat or slightly down. a last note of pride is reserved for the Radeon HD 6490M and HD 6750M GPUs, which figured prominently in Apple’s latest MacBook Pro refresh and mark a little bit a coup for AMD, who’s now accountable for all of Apple’s discrete graphics around the MacBook Pro and iMac computing lines. Click the links below for much more intel on Advanced Micro Devices.
SUNNYVALE, CA, Apr 21, 2011 (MARKETWIRE via COMTEX) –
AMD (NYSE: AMD)
– AMD revenue $1.61 billion, 2 percent sequential decrease and a pair of percent increase year-over-year
– Net income $510 million, earnings per share $0.68, operating income $54 million
– Non-GAAP(1),(2) net income $56 million, earnings per share $0.08, operating income $92 million
– Gross margin 43 percent, non-GAAP gross margin 45 percent
AMD (NYSE: AMD) today announced revenue for the primary quarter of 2011 of $1.61 billion, net income of $510 million, or $0.68 per share, and operating income of $54 million. The corporate reported non-GAAP net income of $56 million, or $0.08 per share, and non-GAAP operating income of $92 million.
“First quarter operating results were highlighted by strong demand for our first generation of AMD Fusion Accelerated Processing Units (APUs),” said Thomas Seifert, CFO and interim CEO. “APU unit shipments greatly exceeded our expectations, and we’re excited to construct on that momentum now that we’re shipping our ‘Llano’ APU.”
GAAP Financial Results
Q1-11 Q4-10 Q1-10
———– ———– ———–
Revenue $1.61B $1.65B $1.57B
Operating income $54M $413M $182M
Net income / Earnings per share $510M/$0.68 $375M/$0.50 $257M/$0.35
Non-GAAP Financial Results(1)
Q1-11 Q4-10 Q1-10
———– ———– ———–
Revenue $1.61B $1.65B $1.57B
Operating income $92M $141M $130M
Net income / Earnings per share $56M/$0.08 $106M/$0.14 $63M/$0.09
Quarterly Summary
– Gross margin was 43 percent.
– Non-GAAP gross margin was 45 percent, flat sequentially.
– Cash, cash equivalents and marketable securities balance on the end of the quarter was $1.75 billion.
– Computing Solutions segment revenue decreased 2 percent sequentially and increased 3 percent year-over-year. The sequential decrease was driven primarily by lower average selling price (ASP) partially offset by higher desktop microprocessor sales. The year-over-year increase was primarily driven by strong microprocessor unit sales in the
channel.
– Operating income was $100 million, compared with $91 million in Q410 and $146 million in Q110.
– Microprocessor ASP decreased sequentially and year-over-year.
– AMD commenced revenue shipments of AMD’s first Fusion APU for mainstream notebooks (codenamed “Llano”) that mixes discrete-class graphics capabilities, personal supercomputing performance and AMD AllDay(TM) power.
– Acer, Asus, Dell, Fujitsu, HP, Lenovo, MSI, Sony and Toshiba shipped sleek new thin-and-light notebooks in line with AMD’s low-power APUs in a position to delivering high definition visual experiences and extended battery life.
– Greater than 50 applications from software companies including Adobe, ArcSoft, Corel, CyberLink and Microsoft benefit from the incredible compute power present in AMD’s APUs and GPUs to dramatically improve application performance and tool efficiency.
– AMD launched the sector’s first APU specifically designed for embedded systems with a record selection of embedded partners for the corporate. Fujitsu, Kontron, Quixant and Congatec announced APU-based solutions for graphics-intensive markets like digital signage, Internet-ready set top boxes, casino gaming machines and point-of-sale kiosks. Acer, Cray, Dell, HP, SGI and other server manufacturers launched new or updated systems in accordance with five newly introduced AMD Opteron(TM) 6100 series processors.
– Within the high performance computing market (HPC), AMD Opteron-based solutions continue to realize traction in accordance with their greater scalability. New customer wins include Lockheed Martin’s cluster for the usa Department of Defense, and the University of Sao Paulo’s cluster to enable advanced scientific astronomical research.
– AMD expanded its enthusiast desktop offerings with the introduction of its fastest four-core processor, the AMD Phenom(TM) II X4 975 Black Edition.
– Graphics segment revenue decreased 3 percent sequentially and was flat year-over-year. The sequential decrease was driven primarily by a seasonal decline in royalties received in reference to the sale of game console systems.
– Operating income was $19 million, compared with $68 million in Q410 and $47 million in Q110.
– GPU ASP decreased sequentially and year-over-year.
– AMD maintained its graphics performance leadership position with the launch of the realm’s fastest graphics card, the AMD Radeon(TM) HD 6990.
– Apple refreshed its Macbook Pro line-up with the hot AMD Radeon HD 6490M and HD 6750M graphics chips. AMD now provides discrete graphics solutions across Apple’s iMac and Macbook Pro product lines.
– Strong industry adoption of AMD’s mobile graphics continued, as HP and Dell launched new designs powered by the brand new AMD Radeon(TM) HD6000M family of graphics processors.
Current Outlook
AMD’s outlook statements are in accordance with current expectations. The subsequent statements are forward looking, and actual results could differ materially counting on market conditions and the standards set forth under “Cautionary Statement” below.
AMD expects revenue to be flat to slightly down sequentially for the second one quarter of 2011.
For added detail regarding AMD’s results and outlook please see the CFO commentary posted at quarterlyearnings.amd.com.
AMD Teleconference AMD will hold a conference demand the financial community at 2:00 p.m. PT (5:00 p.m. ET) today to debate its first quarter financial results. AMD will provide a true-time audio broadcast of the teleconference at the Investor Relations page of its Web page at AMD. The webcast may be available for 10 days after the conference call.
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