-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MDOqpympSx5k5PDI+AIoG/ToLWZxyXmMA9P9LnRm2AUCChUeWkmKev/wlspPgkSY Bioo3fQ/P7JY7EptLaMi0Q== 0001012870-02-000220.txt : 20020414 0001012870-02-000220.hdr.sgml : 20020413 ACCESSION NUMBER: 0001012870-02-000220 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020116 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCED MICRO DEVICES INC CENTRAL INDEX KEY: 0000002488 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 941692300 STATE OF INCORPORATION: DE FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07882 FILM NUMBER: 02515215 BUSINESS ADDRESS: STREET 1: ONE AMD PL STREET 2: MS 68 CITY: SUNNYVALE STATE: CA ZIP: 94088-3453 BUSINESS PHONE: 4087322400 MAIL ADDRESS: STREET 1: ONE AMD PLACE STREET 2: MS 68 CITY: SUNNYVALE STATE: CA ZIP: 94088-3450 8-K 1 d8k.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (date of earliest event reported): January 16, 2002 ADVANCED MICRO DEVICES, INC. ---------------------------- (Exact name of registrant as specified in its charter) DELAWARE 1-7882 94-1692300 -------- ------ ---------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) One AMD Place, P.O. Box 3453 Sunnyvale, California 94088-3453 - ---------------------------------------- ---------- (address of principal executive offices) (Zip Code) Registrant's telephone number, (408) 732-2400 including area code: -------------- Item 5. Other Events. - ------- ------------- On January 16, 2002, AMD reported that net sales for the quarter ended December 30, 2001 grew by 24 percent sequentially. Led by record unit and record dollar sales of PC processors, AMD reported fourth quarter net sales of $951,873,000, which resulted in a net loss of $15,842,000, or $0.05 per share. Net sales for the third quarter of 2001 were $765,870,000, which resulted in a pro forma net loss of $97,424,000, or a pro forma net loss of $0.28 per share (excluding the effects of restructuring and other special charges amounting to $89.3 million, impaired investments of $22 million, and additional inventory provisions amounting to $6.9 million.) In the fourth quarter of 2000, AMD reported net sales of $1,175,172,000 and net income of $177,968,000, or $0.53 per diluted share. For the full year ended December 30, 2001, AMD reported net sales of $3,891,754,000, a decline of 16 percent as compared to 2000, resulting in net income of $28,924,000, or $0.09 per diluted share on a pro forma basis. When the effects of restructuring and other special charges, impaired investments and additional inventory provisions are included, the company incurred a net loss in 2001 of $60,581,000, or $0.18 per share. In 2000 AMD reported net sales of $4,644,187,000 and net income of $983,026,000, or $2.89 per diluted share. Results for 2000 included a one-time net gain of $189,202,000 from the sale of the company's voice communications business and a one-time charge associated with the retirement of senior secured notes. Pro forma net income for 2000 excluding the one-time net gain above was $793,824,000, or $2.35 per diluted share. The company reported that fourth quarter unit sales of AMD processors for mobile PC applications increased by more than 50 percent sequentially. The company also reported that it commenced production of AMD Athlon processors on 130-nanometer (0.13-micron) technology in Fab 30 in Dresden, Germany during the quarter. AMD reported that Memory Group sales - principally flash memory products - declined by approximately 7 percent sequentially in the face of continued weak demand from the networking and communications sector. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. - ------- ------------------------------------------------------------------- (c) Exhibits Number Exhibit ------ ------- 99.1 Financial Statements SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ADVANCED MICRO DEVICES, INC. Date: January 23, 2002 By: /s/ Robert J. Rivet -------------------------------------- Robert J. Rivet Senior Vice President, Chief Financial Officer Exhibit Index ------------- Number Exhibit ------ ------- 99.1 Financial Statements EX-99.1 3 dex991.txt FINANCIAL STATEMENTS Exhibit 99.1 Advanced Micro Devices, Inc. CONSOLIDATED BALANCE SHEETS (Thousands)
Dec. 30, Sept. 30, December 31, 2001 2001 2000* - --------------------------------------------------------------------------------------------------------------------------- (unaudited) (unaudited) Assets Current assets: Cash, cash equivalents and short-term investments $ 869,997 $ 903,534 $ 1,293,165 Accounts receivable, net 659,783 588,563 547,200 Inventories 380,474 449,078 343,541 Deferred income taxes 155,898 168,846 218,527 Prepaid expenses and other current assets 286,957 289,722 255,256 - --------------------------------------------------------------------------------------------------------------------------- Total current assets 2,353,109 2,399,743 2,657,689 Property, plant and equipment, net 2,739,138 2,715,292 2,636,467 Investment in joint venture 363,611 396,351 261,728 Other assets 191,384 227,819 211,851 - --------------------------------------------------------------------------------------------------------------------------- $ 5,647,242 $ 5,739,205 $ 5,767,735 =========================================================================================================================== Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 304,990 $ 369,064 $ 477,369 Accrued compensation and benefits 129,042 143,987 172,815 Accrued liabilities 443,995 382,797 276,721 Income tax payable 56,234 49,591 74,806 Deferred income on shipments to distributors 47,978 34,620 92,828 Current portion of long-term debt, capital lease obligations and other 331,698 192,487 129,570 - --------------------------------------------------------------------------------------------------------------------------- Total current liabilities 1,313,937 1,172,546 1,224,109 Deferred income taxes 105,305 139,850 203,986 Long-term debt, capital lease obligations and other, less current portion 672,945 796,021 1,167,973 Stockholders' equity: Capital stock: Common stock, par value 3,405 3,471 3,141 Capital in excess of par value 1,889,217 1,959,483 1,406,290 Retained earnings 1,795,680 1,811,522 1,856,261 Accumulated other comprehensive loss (133,247) (74,851) (94,025) - --------------------------------------------------------------------------------------------------------------------------- Total stockholders' equity 3,555,055 3,630,788 3,171,667 - --------------------------------------------------------------------------------------------------------------------------- $ 5,647,242 $ 5,739,205 $ 5,767,735 ===========================================================================================================================
*Derived from the December 31, 2000 audited financial statements of Advanced Micro Devices, Inc. Advanced Micro Devices, Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (Thousands except per share amounts)
Quarter Ended Year Ended (Unaudited) (Unaudited) - ------------------------------------------------------------------------------------------------------------------------- Dec. 30, Sept. 30, Dec. 31, Dec. 30, Dec. 31, 2001 2001 2000 2001 2000* - ------------------------------------------------------------------------------------------------------------------------- Net sales $ 951,873 $ 765,870 $1,175,172 $3,891,754 $4,644,187 Cost of sales 644,662 594,056 657,303 2,589,747 2,514,637 Research and development 160,871 161,185 162,088 650,930 641,799 Marketing, general and administrative 163,684 150,918 160,753 620,030 599,015 Restructuring and other special charges - 89,305 - 89,305 - - ------------------------------------------------------------------------------------------------------------------------- 969,217 995,464 980,144 3,950,012 3,755,451 - ------------------------------------------------------------------------------------------------------------------------- Operating income (loss) (17,344) (229,594) 195,028 (58,258) 888,736 Gain on sale of Legerity - - - - 336,899 Interest and other income (expense), net 5,784 (11,220) 25,449 25,695 86,301 Interest expense (9,570) (9,946) (19,933) (61,360) (60,037) - ------------------------------------------------------------------------------------------------------------------------- Income (loss) before income taxes, equity in joint venture and extraordinary item (21,130) (250,760) 200,544 (93,923) 1,251,899 Provision (benefit) for income taxes (5,705) (65,018) 30,082 (14,463) 256,868 - ------------------------------------------------------------------------------------------------------------------------- Income (loss) before equity in joint venture and extraordinary item (15,425) (185,742) 170,462 (79,460) 995,031 Equity in net income (loss) in joint venture (417) (1,187) 7,570 18,879 11,039 - ------------------------------------------------------------------------------------------------------------------------- Income (loss) before extraordinary item (15,842) (186,929) 178,032 (60,581) 1,006,070 Extraordinary item - loss on debt retirement, net of tax benefit - - 64 - 23,044 - ------------------------------------------------------------------------------------------------------------------------- Net income (loss) $ (15,842) $(186,929) $ 177,968 $ (60,581) $ 983,026 - ------------------------------------------------------------------------------------------------------------------------- Net income (loss) per common share Basic: Income (loss) before extraordinary item $ (0.05) $ (0.54) $ 0.57 $ (0.18) $ 3.25 Net income (loss) $ (0.05) $ (0.54) $ 0.57 $ (0.18) $ 3.18 Diluted: Income (loss) before extraordinary item $ (0.05) $ (0.54) $ 0.53 $ (0.18) $ 2.95 Net income (loss) $ (0.05) $ (0.54) $ 0.53 $ (0.18) $ 2.89 - ------------------------------------------------------------------------------------------------------------------------- Shares used in per share calculation - Basic 340,119 345,044 313,501 332,407 309,331 - Diluted 340,119 345,044 349,782 332,407 350,000 - -------------------------------------------------------------------------------------------------------------------------
*Derived from the December 31, 2000 audited financial statements of Advanced Micro Devices, Inc. -----END PRIVACY-ENHANCED MESSAGE-----