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AMD: Blood In The Streets, Gross Margin At 31%

Discussão em 'Novidades Hardware PC' iniciada por Zarolho, 20 de Abril de 2007. (Respostas: 10; Visualizações: 1543)

  1. Zarolho

    Zarolho Power Member

    AMD (AMD) rallied like a house afire, closing the regular session at $14.28. up 2.7% on over 50 million shares, about double its normal volume.

    AMD reported revenue of $1.233 billion and a GAAP loss of $504 million. In the quarter a year ago, revenue was $1.33 billion and the company had a profit of $259 million.
    Gross margins fell to an unbelieveable 31%. In the same quarter a year ago, they were 59%. In Q4 06, 40%.

    The company expects the next quarter to be flat.

    The company's cash dropped to $1.167 billion from $1.541 billion at the end of last year. Receiveables dropped from $1.14 billion to $667 million. Never a good sign.

    Advanced Micro Devices was expected to report a loss of 48 cents per share for the first quarter. Analysts on average, expect AMD to report a 5 percent sales decline to $1.26 billion
    The company this month forecast sales of $1.22 billion after last month saying it was unlikely to meet its previous target for sales of $1.6 billion to $1.7 billion.

    Douglas A. McIntyre

    http://www.247wallst.com/2007/04/amd_blood_in_th.html


    SAN FRANCISCO, April 19 (Reuters) - Advanced Micro Devices Inc. (AMD.N: Quote, Profile, Research) posted a bigger-than-expected quarterly loss on Thursday as the No. 2 maker of computer processors was hit by falling prices and unit shipments.

    AMD said its net loss for the fiscal first quarter was $611 million, or $1.11 per share, compared to a profit of $184.5 million, or 38 cents per share, a year earlier. Revenue fell 7.4 percent to $1.23 billion.

    The results were in-line with Wall Street estimates that were revised downward last week after AMD warned quarterly revenue would be about 20 percent below earlier forecasts.

    Excluding special items, AMD was expected to have lost $258.1 million, or 47 cents per share, on revenue of $1.23 billion, according to the average analyst forecast on Reuters Estimates.

    A new line-up of chips from AMD's larger rival Intel Corp. (INTC.O: Quote, Profile, Research) has stalled AMD's momentum and eaten into its sales, average prices and gross margins.

    AMD's shares have fallen 55 percent over the past year, compared to a rise in Intel of 11 percent.

    http://www.reuters.com/article/technology-media-telco-SP/idUSWEN672920070419
     
    Última edição: 20 de Abril de 2007
  2. ajax

    ajax Banido

    Mas dizem que ganharam market share.
     
  3. Blasar

    Blasar Colaborador
    Staff Member

    É boa altura para comprar acções da AMD ou não?

    Agradece-se a opinião dos membros mais habituados a estas andanças financeiras.... quanto a mim, na minha quase total ignorância

    ao nível dos mercados bolsistas e afins, parece-me uma boa altura para investir na AMD. Afinal, a vantagem de se andar na mó de

    baixo, é que a partir daí é sempre a subir....ou não.... As perspectivas das novas gerações de CPU´s e GPU´s da DAAMIT deixam

    antever, pelo menos, um esforço para fazer concorrência à "toda-poderosa" INTEL, que por muito mal que corra, sempre é

    melhor que não ter nenhuma, ou quase nenhuma, alternativa viável.
     
  4. ajax

    ajax Banido

    Compra AMD apenas e só apenas se fores um investidor experimentado e só depois de fazeres uma análise aprofundada do mercado e da emprea. A AMD é só para PRO's com bom estomago e golpe de rins. Quem sabe ganha muito dinheiro com a AMD (cerca de 100% por ano) mas a maioria perde, e não é pouco. Por exemplo, houve gente que nos últimos dias apostou numa boa descida (short selling e/ou PUT options) e que já perderam algumas horas de sono.
     
    Última edição: 20 de Abril de 2007
  5. ketamine

    ketamine Power Member

    AMD com grandes perdas

    Texto de Wolfgang Gruener em Abril 19, 2007:

    AMD reports $611 million loss

    Sunnyvale (CA) - Declining microprocessor sales as well as dropping average selling prices for its microprocessors have pushed AMD deeper into the red. The company reported a net loss of $611 million on revenues of $1.233 billion, which is more than 20% below the guidance the company expected at the end of Q4 2006.

    The loss includes charges related to the ATI acquisition in the amount of $113 million, but is mainly a result of the increasing competition with Intel in the microprocessor market. The company said that its Q1 margins were 31%, down from 40% in Q4 2006 and down from 59% in Q1 2006. "The decrease from the prior quarter was largely due to significantly lower microprocessor unit shipments, lower microprocessor average selling prices (ASPs), and the inclusion of the former ATI operations, which generally have lower-margin products, for the entire quarter, AMD said.

    AMD had revenues of $1.332 billion and a profit of $259 million in Q1 of 2006; in Q4 2006, the company reported revenues of $1.773 billion and an operating loss of $529 million.

    "After more than three years of successfully executing our customer expansion strategy and significantly growing our unit and revenue base, our first quarter performance is disappointing and unacceptable," said Robert J. Rivet, AMD's chief financial officer, in a prepared statement. "We are aggressively addressing the issues that led to our significant revenue decline. We are aligning our business model, capital expenditures and cost structure with the goal of accelerating our return to profitability."

    In a press release, AMD said that computing solutions group sales were $918 million, down 38% sequentially. "Year-over-year server and desktop processor unit shipments and revenues declined significantly, while mobile processor unit shipments and revenue increased significantly," the firm said.

    Last week, AMD warned the financial community that the company would report significantly lower revenues. The company also announced that it plans to restructure its business model to increase operational efficiencies and lower its operating cost structure.

    AMD's stock dropped about 2% in after hour trading late Thursday.

    http://www.tomshardware.co.uk/2007/04/19/amd_reports_611_million_loss/
     
  6. ajax

    ajax Banido

  7. blastarr

    blastarr Power Member

    Ah, mostras resultados do after-hours trading de Sexta, quando o artigo diz claramente "After hour late Thursday" (Quinta) ?

    Mais. Do artigo que mostraste no CNN Money:

    Lógica da batata... não ?
     
    Última edição: 21 de Abril de 2007
  8. ajax

    ajax Banido

    AMD's stock dropped about 2% in after hour trading late Thursday.

    [​IMG]

    Se não sabes olhar para um gráfico o problema não é meu. O gráfico mostra os preços do "after-hours" para a semana toda. O artigo refere-se ao período entre a final da sessão de quinta até ao começo da sessão de sexta (EST). Ou seja, no gráfico olha para o intervalo entre T e F (Thursday e Friday, como deves saber). Se consegues ver um -2% avisa pois pode revolucionar a matemática.
     
    Última edição: 21 de Abril de 2007
  9. blastarr

    blastarr Power Member

    Obrigado por me dares razão.
    Entretanto, devias começar por ler o artigo do teu próprio link com mais atenção.
     
  10. ajax

    ajax Banido

    És capaz de fundamentar aquilo que dizes ou só mandas bitaites?
     
  11. Zarolho

    Zarolho Power Member

    How AMD plans to sail through the "perfect storm"

    AMD perdeu bastante «Marketshare» para a rival Intel em apenas 2 trimestres e regressou para os níveis de Q3 2005. Excelente artigo que coloca a "nu" e descreve a difícil e terrível momento que a empresa enfrenta. Os próximos trimestres serão absolutamente decisivos para o futuro da empresa e do sector. Acima é uma questão de sobrevivência da empresa e de defender a posição no mercado que a empresa conquistou ao longo de anos.


    Many semiconductor companies mention in their disclaimer in quarter conference calls that the “semiconductor industry is generally volatile.” This phrase especially applies to AMD, which was flying high in 14 consecutive quarters, but was brought down to brutal reality in just two quarters - due in part to challenges the company isn’t used to dealing with and in part to competitors that have been gaining lots of traction.

    President Dirk Meyer explained that the company experienced a “perfect storm” of challenges in Q1 that resulted in declining shipment numbers and a decrease in average selling prices. The company is still trying to recover from delivery issues in the channel, where many retailers switched to Intel, as AMD neglected smaller customers in Q4 and provided preferred treatment to new and larger customers such as Dell and Lenovo. Pricing pressure remained intense, as Intel “did everything in its power to protect its monopoly,” Meyer said. Delayed products, especially in the GPU segment, declines in the consumer electronics market, as well as a much more complex product portfolio than the company has had in past years added to an already difficult business environment.

    AMD did not release any numbers on how dramatic the impact may have been on the basis of its microprocessor market share, other than generally admitting that it has suffered market share losses and that its microprocessor/chipset department lost $321 million during Q1.

    However, market research firm iSuppli did a quick analysis of market data and came up with numbers that indicate that AMD’s battle against Intel has been thrown back to Q3 2005. In the overall microprocessor market (including all microprocessors and not just x86 units), AMD’s share is estimated to have dropped to 11.1%, down 4.6 percentage points from 15.7% in the fourth quarter. Rival Intel has gained 4.5 points in the same time frame and is estimated to hold about 80.2% of the market. “We knew Intel had gained share compared to AMD in the first quarter, but the sales gap between the companies widened to a much greater degree than we had expected,” said Dale Ford, vice president, market intelligence services for iSuppli. “The microprocessor market-share disparity between the companies expanded to 69.1 points in the first quarter, up from 60 points in the fourth quarter of 2006.”

    Q1 was catastrophic for AMD. The firm had to swallow a net loss of $611 million, with a $300 million hit on its cash reserves. The company has $1.2 billion left in the bank and considers a level of $600 million as “acceptable minimal level.” There is no doubt that AMD cannot sustain many of these quarters without having to look for external cash. During the Q1 conference call, the company acknowledged the disappointing period and referred to the quarter as “lousy”, “unacceptable”, “a strong setback”, “more than a miss”, “a terrible start into the year”, “a meltdown” and “a collapse”.

    CEO Ruiz and Meyer told analysts that the company will go through a restructuring phase that will be overseen by an “executive taskforce”, chaired by Ruiz, and that will be “bigger and more dramatic than the one [AMD] undertook in 2002.” The company “understands the problems” and will “fix the issues” to “put the company back on track,” Meyer said. AMD announced a range of cost cutting programs, including capital expenditures in the amount of $500 million, which include a slow-down of the conversion of Fab 30 from 200 mm to 300 mm wafers. AMD is also considering the sale of real estate and will put a freeze on hiring. The company did not mention layoffs per se, but confirmed that it expects to end Q4 2007 with a lower headcount compared to Q1.

    Despite all its problems, the company does not intend to change its overall product strategy. “We are half way there,” said Ruiz. “We are now accelerating our efforts to complete our work and finish the other half.” AMD was hit at the worst possible moment, in a situation where it is most vulnerable from a product and finance perspective. Many of its products are on their weigh out and have a hard time sustaining competitive pressure. On the CPU side, Intel pulls AMD down with its aging Pentium D series, while it leverages the superior Core series to rake in the big bucks. On the GPU side, Nvidia currently has a big lead and cashes in on the fact that the R600 GPU is late. According to Rivet, the AMD’s graphics division lost $35 million in Q1.

    On a positive note, AMD believes that Q1 was just about as bad as it can get. Henri Richard, in charge of AMD’s sales and marketing, said that the firm has scored several design wins in Q1, all of which will materialize in Q2 and the second half of the year. Average selling prices of microprocessors apparently are stabilizing and the Opteron replacement “Barcelona” is on its way. AMD said it has shipped pre-production units in Q1, it is shipping production units in Q2 and it expects customers to ship servers with the quad-core processor in Q3. The firm’s mobile business is growing, but Turion has to wait for a succeeding product that can compete with Intel’s upcoming Santa Rosa Core 2 Duos and the 45 nm Penryn chip. A (65 nm) Turion replacement is not expected to arrive until 2008. The transition to 45 nm is also on track, even if AMD is still working on getting its 65 nm processors in volume out into the market: 45 nm AMD processors are promised for the second half of 2008.

    For the second quarter of 2007, which typically shows weaker results than Q1, AMD expects its revenues to be about flat with Q1. This forecast raised some eyebrows with analysts, who questioned whether this confidence is really justified, given the firm’s downswing over the past six months. Ruiz answered that AMD should not be “ridiculously conservative.” In fact, the firm believes that it will regain some market share, which, however, should not be so difficult if we realize that the firm has just experienced one of the worst quarters in its history.

    While AMD’s current situation looks serious, it is unlikely that there will be any major changes in the firm’s strategic direction. Turning the ship around is too late and would not make a whole lot of sense anyway. With the ATI team on board, AMD in fact looks much better than without it: There are resources that allow the company to design unique and competitive products against an Intel that rarely has been as strong as it is today. Without ATI, AMD would still be a hopelessly out-resourced processor company with a few products that would limit its maneuverability even more.

    Despite the critical developments in Q4 and Q1, AMD is far from giving up. At least for now, AMD has still cards to play and Captain Ruiz turns the ship into the wind: “We are not going to change our strategy because of one lousy quarter.”

    http://www.tgdaily.com/content/view/31708/118/
     
    Última edição: 23 de Abril de 2007

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