Sunday, March 29, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Microsoft Lists Windows 10-Compatible Phones
Intel in Talks to buy Altera: report
MediaTek Releases New High-end Smartphone Helio SoC
Google To Get Into The Operating Room
Data Requests To Microsoft Decreased
Google Defeated in English Court - Decision Opens Door for Litigation by Millions of British Apple Users
LG G4 Smartphone Coming Late April
BlackBerry Posts Quarterly Profit
Active Discussions
how to copy and move data files to dvd-rw
cdrw trouble
Need serious help!!!!
burning
nvidia 6200 review
Hello
Burning Multimedia in track 0
I'm lazy. Please help.
 Home > News > General Computing > AMD Rep...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, October 18, 2012
AMD Reports Losses, Announces Restructuring Plan


AMD said it will cut its workforce by 15 percent in a bid to reduce operating expenses as it struggles with a consumer shift toward tablets and weak PC sales.

The company today announced revenue for the third quarter of 2012 of $1.27 billion, a net loss of $157 million, or $0.21 per share, and an operating loss of $131 million. The company reported a non-GAAP net loss of $150 million, or $0.20 per share, and a non-GAAP operating loss of $124 million.

"The PC industry is going through a period of very significant change that is impacting both the ecosystem and AMD," said Rory Read, AMD president and CEO. "It is clear that the trends we knew would re-shape the industry are happening at a much faster pace than we anticipated. As a result, we must accelerate our strategic initiatives to position AMD to take advantage of these shifts and put in place a lower cost business model. Our restructuring efforts are designed to simplify our product development cycles, reduce our breakeven point and enable us to fund differentiated product roadmaps and strategic breakaway opportunities."

AMD's first generation A-Series Accelerated Processor Units (APUs) ("Llano") had weaker-than-expected demand. The company's 'Computing Solutions' segment revenue decreased 11 percent sequentially and 28 percent year-over-year.

AMD's graphics segment revenue decreased seven percent sequentially and 15 percent year-over-year. Graphics processor unit (GPU) revenue decreased 14 percent sequentially due to lower unit shipments to OEMs partially offset by higher channel sales.

AMD also announced a restructuring plan, which will be mainly implemented in the fourth quarter of 2012 and will include a workforce reduction and site consolidations.

The company expects that the restructuring actions taken in the fourth quarter of 2012 will result in operational savings, primarily in operating expenses, of approximately $20 million in the fourth quarter of 2012 and approximately $190 million in 2013. The savings will be largely driven through a reduction of AMD's global workforce by approximately 15 percent, which is expected to be completed in the fourth quarter of 2012. The company currently estimates it will record a restructuring expense in the fourth quarter of 2012 of approximately $80 million in connection with these actions.

"Our restructuring efforts are decisive actions that position AMD to compete more effectively and improve our financial results," said Mr. Read. "Reducing our workforce is a difficult, but necessary, step to take advantage of the eventual market recovery and capitalize on growth opportunities for our products outside of the traditional PC market."


Previous
Next
4K To Be Called 'Ultra HD'        All News        Microsoft's Profit Falls
Sony to Cut Staff, Consolidate Manufacturing Sites     General Computing News      Microsoft's Profit Falls

Get RSS feed Easy Print E-Mail this Message

Related News
AMD Showcases DirectX 12 Performance in new 3DMark API Overhead Feature Test
AMD Enters The Virtual Reality market With Liquid VR
AMD Carrizo Does HEVC, Packs South Bridge Chip
GPU shipments Dropped in Q4, Nvidia Had a Small Gain
AMD Cuts Prices Of Radeon Graphics Card To Cash On GTX 970 Memory Furor
Slow PC Sales Jeep AMD's Revenue Down
AMD at 2015 International CES
New Feature-stuffed Catalyst Omega Drives Released
AMD Adds The Mobile "Carrizo" Family of APUs to Its Roadmap
AMD Reveals Civilization: Beyond Earth Game Bundle, Overclocked Radeon R9 290X
AMD's Radeon R9 290X Graphics Card Now Available For Just $300
AMD Sales May Miss Estimates, New CEO Announces Restructuring

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .