Friday, March 23, 2018
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Streaming Services Keep Driving Music Business
Huawei Could Release 512GB and Blockchain-Ready Smartphone
Sony Announces Pricing and Availability for A8F BRAVIA OLED TVs and 85" Class X900F and X850F Series 4K HDR TVs
New Samsung Exynos 7 Series 9610 Mobile Processor focuses on Multimedia
Google to Develop Its Own Blockchain-Related Technology
Zuckerberg Apologizes For Cambridge Analytica Scandal, Outlines Steps to Protect Users' Data
Mediatek Says There Are No Talks With Broadcom
Seagate Says Its MACH.2 Multi Actuator Technology Breaks Throughput Record, Announces HAMR Reliability Tests
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 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."

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 to Fix 13 processors Vulnerabilities Reported by CTS Labs Research
AMD Chips Have Security Flaws, Report Claims
AMD's Project ReSX Makes Popular Games Run Smoother
GPU Market Declined seasonally in Q4, Despite Interest in Cryptocurrency Mining
AMD Brings x86 'Zen' Architecture to the Embedded Market With new Ryzen Processors
First AMD Ryzen Desktop APUs Featuring Powerful Graphics Released
AMD EPYC Power Three New Platforms in Dell EMC PowerEdge Family
AMD's Fourth Quarter Revenue Grew 34 Percent
Graphics Experts From Synaptics and Nvidia Join AMD
Intel Says Security Patches Can Cause Reboot Problems, AMD Acknowledges Chips Exposed to Spectre
Enmotus FuzeDrive Accelerates Your AMD Ryzen System
CES: AMD Previews New Generation of Ryzen CPUs, New Ryzen APUs, New Radeon Vega Mobile GPUs

Most Popular News
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .