AMD Profit Sharing Distribution For 2000 A Record At $103 Million
Sunnyvale, CA --
AMD today distributed $23.6 million in profit sharing to U.S. employees for the fourth quarter of 2000. Employees received the equivalent of approximately three weeks' pay, half in cash and half in deferred compensation. The cumulative profit-sharing payout for 2000 came to more than $103 million, or nearly 12 weeks' pay, an AMD record.
The current distribution represents approximately 10 percent of operating profits for the quarter ended December 31, 2000, when AMD reported sales of $1,177,172,000 and net income of $177,968,000.
"AMD sales grew by 63 percent to $4.6 billion in a year when the worldwide semiconductor industry exceeded even the most optimistic forecasts and grew by 37 percent," said W.J. Sanders III, chairman and chief executive officer. "I am proud beyond words of the performance of AMD employees during the past 12 months, and very pleased that we can share the rewards of our success."