Wednesday, July 30, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
AMD Opteron 64-Bit ARM-Based Developer Kits Now Available
Samsung Galaxy Note 4 Coming On September 3
Google To Show Ratings to Search-Results Ads
Samsung And Apple See Their Smartphone Market Shares Plunging
Twitter Says Its User base Increased
Microsoft Details Windows Phone 8.1 Update, Brings Cortana To New Markets
Facebook to Shut Down Gifts Service
Netflix To Pay AT&T For Smooth Video Delivery
Active Discussions
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
Video editing software.
 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 Opteron 64-Bit ARM-Based Developer Kits Now Available
AMD Reports Second-quarter Loss
AMD Announces New A-Series APUs
AMD Mantle API Gains Support Of Three New Electronic Arts Titles
Here's AMD's New FirePro W8100 New Professional Graphics Card
AMD to Release Liquid-Cooled CPU
AMD's APUs To Deliver 25x Efficiency Gains by 2020
Executive Changes For AMD
AMD Adds New Games to Never Settle Forever Bundle
AMD To Outsource Chipsets Development To ASMedia: report
New Mobile Kaveri APU brings Steamroller, Graphics Core Next and HSA to Notebooks
AMD Unveils Mobile Kaveri Specifications

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .