AMD Says Second Quarter Sales Declined
SUNNYVALE, CA --
AMD (NYSE:AMD) said today that sales for the second quarter ended July 1, 2001 at $985 million declined approximately 17 percent from first quarter sales of $1.189 billion. On continuing businesses, the sales decline amounted to approximately 11 percent from the like period of 2000. The company also said that, on 341 million shares outstanding, it is estimating second quarter net income of $0.03 to $0.05 per diluted share.
When it announced first quarter results on April 18, AMD projected that second quarter sales could decline by as much as 10 percent. AMD said that two factors caused the greater than expected decline in sales. First, demand for flash memory devices was and continues to be weaker than anticipated. Second, competitive pressures in the PC processor market depressed the company's average selling prices. Today the company said that, despite continuing weak PC market conditions and very aggressive pricing by Intel Corporation, the company achieved record unit sales of AMD Athlon™ processors, record unit sales of AMD Duron™ processors, and record aggregate PC processor unit sales, demonstrating the breadth, strength and competitiveness of its PC processor product line.
AMD will report second quarter results of operations on July 12.