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April 24, 2009

AMD loss widens in first quarter

Attributes the loss to the decline in demand for its microprocessors as a result of the global economic downturn

By CBR Staff Writer

AMD has reported a net loss of $416m for the first quarter 2009, compared to a loss of $364m in the year-ago quarter, on revenue down 21% at $1.17 billion. The loss was attributed to the decline in demand for its microprocessors as a result of the global economic downturn.

It made an operating loss of $308m compared to a loss of $234m in the same period last year. The diluted net loss per share was $0.66 compared to a loss per share of $0.60 a year ago.

During the quarter the company completed a deal to form the US-headquartered semiconductor foundry, Globalfoundries, a $5 billion joint venture with Advanced Technology Investment Company and Mubadala Development Company of Abu Dhabi.

Dirk Meyer, president and chief executive at AMD, said: AMD’s sequential microprocessor unit and revenue growth in difficult economic conditions demonstrate we can grow in an environment where customers are looking for maximum value. We delivered on a number of important priorities in the first quarter. We launched Globalfoundries, maintained our cadence of new product and platform introductions, and made solid progress on our restructuring activities.

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