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AMD Distributes Record $28 Million to Employees
AMD Distributes Record $28 Million to Employees
SUNNYVALE, CA -- August 16, 2000 --AMD today distributed more than $28 million in profit sharing to U.S. employees for the second quarter of 2000, the company's largest profit-sharing payout ever. Employees received the equivalent of approximately three weeks' pay, half in cash and half in deferred compensation. The cumulative profit-sharing payout for the first half of 2000 amounted to more than $48 million, or the equivalent of approximately five weeks' pay.
The current distribution, which represents approximately 10 percent of operating profits for the quarter ended June 2, 2000, when AMD reported record sales of $1,170 billion and net income of $207 million.
"AMD's excellent second-quarter performance was due in large measure to the efforts of our dedicated workforce," said W.J. Sanders III, chairman and chief executive officer. "Aided by strong demand for PC processors and flash memory devices, AMD continued to outperform the semiconductor industry as a whole during a period of robust industry growth. I'm very proud of the efforts of AMD employees and pleased that we can share the results of our success with those who made it possible."
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