Advanced Micro Devices, Inc. Reports Earnings Results for the Fourth Quarter and Year Ended December 26, 2015; Provides Earnings Guidance for the First Quarter and Full Year of 2016
January 19, 2016 at 04:19 pm
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Advanced Micro Devices, Inc. reported earnings results for the fourth quarter and year ended December 26, 2015. For the quarter, the company reported net revenue of $958 million compared to $1,239 million a year ago. Operating loss was $49 million compared to $330 million a year ago. Loss before income t ax was $92 million compared to $367 million a year ago. Net loss was $102 million compared to $364 million a year ago. Basic and diluted net loss per share was $0.13 compared to $0.47 a year ago. Net cash provided by operating activities was $53 million compared to $116 million a year ago. Purchases of property, plant and equipment was $32 million compared to $22 million a year ago. Adjusted LBITDA was $5 million compared to adjusted EBITDA of $96 million a year ago. Non-gaap free cash flow was $21 million compared to $94 million a year ago. Non-GAAP operating loss was $39 million compared to Non-GAAP operating loss of $52 million a year ago. Non-GAAP net loss was $79 million or $0.10 per share compared to Non-GAAP operating income of $18 million or $0.02 per share a year ago.
For the full year, the company reported net revenue of $3,991 million compared to $5,506 million a year ago. Operating loss was $481 million compared to $155 million a year ago. Loss before income t ax was $646 million compared to $398 million a year ago. Net loss was $660 million compared to $403 million a year ago. Basic and diluted net loss per share was $0.84 compared to $0.53 a year ago. Net cash used in operating activities was $237 million compared to $98 million a year ago. Purchases of property, plant and equipment was $96 million compared to $95 million a year ago. Adjusted LBITDA was $89 million compared to adjusted EBITDA of $505 million a year ago. Non-gaap free cash flow was negative at $333 million compared to $193 million a year ago. Non-GAAP operating loss was $253 million compared to Non-GAAP operating income of $316 million a year ago. Non-GAAP net loss was $419 million or $0.54 per share compared to Non-GAAP operating income of $132 million or $0.16 per share a year ago.
The company provided earnings guidance for the first quarter and full year of 2016. For the quarter, the company's revenue to decrease 14% sequentially. Gross margin expected to be approximately 32%. Non-Gaap operating expenses expected to be approximately $320 million. Interest expense, taxes and other to be expected approximately $42 million.
For the full year, the company's revenue to grow year-over-year. Non-Gaap operating expenses to be expected approximately between $320 million and $340 million per quarter. Capital expenditures expected to be of approximately $70 million. Interest expense, taxes and other expected to be approximately $45 million per quarter.
Advanced Micro Devices, Inc. specializes in the design, manufacturing and marketing of semiconductors and microprocessors. The group sells processors, chips, cards, connection products, adapters, etc. intended primarily for computers, servers, workstations, telephones, and game consoles.
Net sales are distributed geographically as follows: the United States (34.6%), China (15.1%), Japan (20.4%), Singapore (9.8%), Europe (8.9%), Taiwan (8.1%) and others (3.1%).
Advanced Micro Devices, Inc. Reports Earnings Results for the Fourth Quarter and Year Ended December 26, 2015; Provides Earnings Guidance for the First Quarter and Full Year of 2016