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AMD Lowers Outlook and Plans to Restructure
Apr 9 2007, 10:58am CDT | by Luigi Lugmayr
AMD expects to report revenue of approximately $1.225 billion in the quarter ending March 31, 2007. AMD predicted $1.6-$1.7billion in the beginning of the year and the company had 1.33 billion in same period in 2006.
Revenues declined sharply quarter-over-quarter for the Computing Solutions segment, primarily due to lower overall average selling prices and significantly lower unit sales, especially in the resale channel.
AMD plans to restructure its business model to increase operational efficiencies and lower its operating cost structure. AMD will reduce 2007 capital expenditures by approximately $500 million, which the company believes will not materially impact capacity plans for the year. AMD will also significantly reduce discretionary expenses and limit hiring to critical positions.
AMD will provide more details during its conference call to report first quarter 2007 financial results on April 19th.
More details in this AMD press-release.
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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.
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