AMD Updates Second Quarter Outlook
Anticipates lower than expected second quarter sales
SUNNYVALE, CA --
AMD (NYSE:AMD) today announced that sales for the second quarter ending June 29, 2003 are anticipated to be approximately $615 million. The Company’s projection made in connection with the release of first quarter results was for second quarter sales to be at least $715 million.
“The anticipated global sales improvement in the month of June did not materialize as we had anticipated,” said Robert J. Rivet, AMD’s Chief Financial Officer. “In particular, the decline in personal computer and handset sell-through in China and other Asian markets, largely related to the SARS epidemic, significantly affected AMD’s sales in the second quarter.”
AMD will report its second quarter 2003 results on July 16, 2003.
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements in this release involve risks and uncertainty that could cause actual results to differ materially from current expectations. Risks include the possibility that sales currently anticipated to occur near the end of the quarter will not be achieved, resulting in lower than currently expected sales in the quarter; that Intel Corporation pricing, marketing programs, product bundling, new product introductions or other activities targeting the company's processor business will prevent attainment of the company's current expectation for PC processor sales in the second quarter; that demand for personal computers and, in turn, demand for the company's PC processors will be lower than currently expected; and that demand for the company's Flash memory products will be lower than currently expected. We urge investors to review in detail the risks and uncertainties in the company's Securities and Exchange Commission filings, including but not limited to the report on Form 10-K for the year ended December 29, 2002 and the report on Form 10-Q for the quarter ended March 30, 2003.
Founded in 1969 and based in Sunnyvale, California, AMD (NYSE: AMD) is a global supplier of integrated circuits for the personal and networked computer and communications markets with manufacturing facilities in the United States, Europe, Japan, and Asia. AMD, a Standard & Poor’s 500 company, produces microprocessors, Flash memory devices, and silicon-based solutions for communications and networking applications.
AMD on the Web
For more AMD news and product information, please visit our virtual pressroom at www.amd.com/news/virtualpress/index.html
. Additional press releases are available at www.amd.com/news/news.html