AMD today reported sales of $1.227 billion and an operating loss of $46 million for the quarter ended March 27, 2005. The first quarter net loss of $17 million amounted to $0.04 per share.
First quarter sales decreased one percent compared to the first quarter of 2004 and decreased three percent from the fourth quarter of 2004. In the first quarter of 2004, AMD reported sales of $1.236 billion and net income of $45 million, or $0.12 per diluted share. In the fourth quarter of 2004, AMD reported sales of $1.264 billion and a net loss of $30 million, or $0.08 per share.
“Our microprocessor business delivered record sales in what is typically a seasonally down quarter, driven by increased sales across all product categories,” said Robert J. Rivet, AMD’s chief financial officer. “We continued to gain momentum with year-over-year sales growth of 31 percent, highlighted by AMD Opteron and AMD Athlon 64 processor sales, each of which more than doubled from a year ago.
“The NOR Flash memory market continued to experience industry-wide oversupply and strong pricing pressure. We experienced a rise in unit shipments, but our average selling price (ASP) declined significantly, resulting in weaker than expected sales.”