AMD Reports 2014 Second Quarter Results

                                                                            
                                                                            
(1) Computing Solutions segment primarily includes x86 microprocessors, as  
    standalone devices or as incorporated as an accelerated processing unit 
    (APU), chipsets, embedded processors and dense servers.                 
                                                                            
(2) Graphics and Visual Solutions segment primarily includes graphics       
    processing units (GPU), including professional graphics, semi-custom    
    System-on-Chip (SOC) products, development services and technology for  
    game consoles.                                                          
                                                                            
(3) All Other category primarily includes certain expenses and credits that 
    are not allocated to any of the operating segments. Also included in    
    this category are amortization of acquired intangible assets and        
    employee stock-based compensation expense. In addition, the Company     
    also included the following adjustments for the indicated periods: for  
    the first quarter of 2014, the Company included an adjustment for       
    workforce rebalancing severance charges and for the second quarter of   
    2013 and six months ending June 29, 2013, the Company included an       
    adjustment for net restructuring and other special charges. The Company 
    also reports the results of former businesses in the All Other category 
    because the operating results were not material.                        
                                                                            
(4) Reconciliation of GAAP operating income (loss) to Adjusted EBITDA*      
                                                                            
                                Three Months Ended        Six Months Ended  
                           ----------------------------  ------------------ 
                           Jun. 28,  Mar. 29,  Jun. 29,  Jun. 28,  Jun. 29, 
                             2014      2014      2013      2014      2013   
                           --------  --------  --------  --------  -------- 
    GAAP operating income                                                   
     (loss)                $     63  $     49  $    (29) $    112  $   (127)
      Workforce                                                             
       rebalancing                                    -                   - 
       severance charges          -        14                  14           
      Depreciation and                                                      
       amortization              49        50        54        99       116 
      Employee stock-based                                                       
              compensation                                                                                                                  
              expense                                      21                23                20                44                44  
            Amortization  of                                                                                                              
              acquired  intangible                                                                                                    
              assets                                          4                  3                  4                  7                      
                                                                                                                                                    9  
            Restructuring  and                                                                                                          
              other  special                                                                    5                                    52  
              charges,  net                              -                  -                                      -                      
                                                      --------    --------    --------    --------    --------  
        Adjusted  EBITDA                $        137    $        139    $          54    $        276    $          94  
                                                      ========    ========    ========    ========    ========  
                                                                                                                                                        
                                                                                                                                                        
(5)  Non-GAAP  free  cash  flow  reconciliation**                                                                
                                                                                                                                                        
                                                                Three  Months  Ended                Six  Months  Ended    
                                                      ----------------------------    ------------------  
                                                      Jun.  28,    Mar.  29,    Jun.  29,    Jun.  28,    Jun.  29,  
                                                          2014            2014            2013            2014            2013      
                                                      --------    --------    --------    --------    --------  
        GAAP  net  cash  used  in                                                                                                      
          operating  activities    $        (28)  $      (204)  $        (35)  $      (232)  $      (190)
            Purchases  of                                                                                                                    
              property,  plant  and                                                                                                    
              equipment                                (23)            (21)            (28)            (44)            (48)
                                                      --------    --------    --------    --------    --------  
        Non-GAAP  free  cash                                                                                                            
          flow                                    $        (51)  $      (225)  $        (63)  $      (276)  $      (238)
                                                      ========    ========    ========    ========    ========  
                                                                                                                                                        
                                                                                                                                                        
        *  The  Company  presents  Adjusted  EBITDA  as  a  supplemental  measure  of  its  
        performance.  Adjusted  EBITDA  for  the  Company  is  determined  by  adjusting  
        operating  income  (loss)  for  depreciation  and  amortization,  employee          
        stock-based  compensation  expense  and  amortization  of  acquired                      
        intangible  assets.  In  addition,  the  Company  also  included  the  following  
        adjustments  for  the  indicated  periods:  for  the  first  quarter  of  2014,      
        the  Company  included  an  adjustment  for  workforce  rebalancing  severance    
        charges  and  for  second  quarter  of  2013  and  six  months  ending  June  29,      
        2013,  the  Company  included  an  adjustment  for  net  restructuring  and            
        other  special  charges.  The  Company  calculates  and  communicates  Adjusted  
        EBITDA  in  the  earnings  press  release  because  the  Company's  management      
        believes  it  is  of  importance  to  investors  and  lenders  in  relation  to        
        its  overall  capital  structure  and  its  ability  to  borrow  additional            
        funds.  In  addition,  the  Company  presents  Adjusted  EBITDA  because  it          
        believes  this  measure  assists  investors  in  comparing  its  performance        
        across  reporting  periods  on  a  consistent  basis  by  excluding  items  that    
        the  Company  does  not  believe  are  indicative  of  its  core  operating              
        performance.  The  Company's  calculation  of  Adjusted  EBITDA  may  or  may        
        not  be  consistent  with  the  calculation  of  this  measure  by  other                  
        companies  in  the  same  industry.  Investors  should  not  view  Adjusted            
        EBITDA  as  an  alternative  to  the  GAAP  operating  measure  of  operating          
        income  (loss)  or  GAAP  liquidity  measures  of  cash  flows  from  operating,    
        investing  and  financing  activities.  In  addition,  Adjusted  EBITDA  does      
        not  take  into  account  changes  in  certain  assets  and  liabilities  as  well  
        as  interest  and  income  taxes  that  can  affect  cash  flows.                                
                                                                                                                                                        
        **  The  Company  also  presents  non-GAAP  free  cash  flow  in  the  earnings        
        press  release  as  a  supplemental  measure  of  its  performance.  Non-GAAP        
        free  cash  flow  is  determined  by  adjusting  GAAP  net  cash  used  in                  
        operating  activities  for  capital  expenditures.  The  Company  calculates      
        and  communicates  non-GAAP  free  cash  flow  in  the  financial  earnings            
        press  release  because  the  Company's  management  believes  it  is  of                
        importance  to  investors  to  understand  the  nature  of  these  cash  flows.      
        The  Company's  calculation  of  non-GAAP  free  cash  flow  may  or  may  not  be    
        consistent  with  the  calculation  of  this  measure  by  other  companies  in      
        the  same  industry.  Investors  should  not  view  non-GAAP  free  cash  flow  as  
        an  alternative  to  GAAP  liquidity  measures  of  cash  flows  from  operating    
        activities.  The  Company  has  provided  reconciliations  within  the                  
        earnings  press  release  of  these  non-GAAP  financial  measures  to  the  most  
        directly  comparable  GAAP  financial  measures.                                                        
 

« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article

SolidCAM - See For Yourself

Featured Video
Editorial
Latest Blog Posts
Sanjay GangalMCADCafe Lens
by Sanjay Gangal
NVIDIA GTC October 2020 Keynote
Jobs
BIM Modeler for Woolpert at Oakbrook Terrace, Illinois
Upcoming Events
3D Collaboration & Interoperability Congress at Golden CO - Feb 20 - 24, 2021
RAPID + TCT 2020 Postponed to 2021 at Anaheim Convention Center Anaheim CA - Apr 2, 2021
WESTEC at Long Beach Convention Center CA - Sep 21 - 23, 2021
Kenesto: 30 day trial



© 2020 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise