AMD's outlook statements are based on current expectations. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under "Cautionary Statement" below.
For Q1 2016, based on a 13 week quarter, AMD expects revenue to decrease 14 percent, plus or minus 3 percent, sequentially.
For additional details regarding AMD's results and outlook please see the CFO commentary posted at quarterlyearnings.amd.com.
AMD Teleconference
AMD will hold a conference call for the financial community at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its fourth quarter and annual financial results. AMD will provide a real-time audio broadcast of the teleconference on the
Investor Relations page of its website at
www.amd.com. The webcast will be available for 12 months after the conference call.
Reconciliation of GAAP to Non-GAAP Gross Margin
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(Millions except percentages) Q4-15 Q3-15 Q4-14 2015 2014
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GAAP Gross Margin $ 283 $ 239 $ 360 $ 1,080 $ 1,839
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GAAP Gross Margin % 30% 23% 29% 27% 33%
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Technology node transition
charge - - - 33 -
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Stock-based compensation* 1 - - 3 3
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Lower of cost or market
inventory adjustment - - 58 - 58
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Non-GAAP Gross Margin $ 284 $ 239 $ 418 $ 1,116 $ 1,900
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Non-GAAP Gross Margin % 30% 23% 34% 28% 35%
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Reconciliation of GAAP Operating Loss to Non-GAAP Operating Income (Loss)
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(Millions) Q4-15 Q3-15 Q4-14 2015 2014
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GAAP operating loss $ (49) $ (158) $ (330) $ (481) $ (155)
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Goodwill impairment - - 233 - 233
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Technology node transition
charge - - - 33 -
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Lower of cost or market
inventory adjustment - - 58 - 58
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Restructuring and other
special charges, net (6) 48 71 129 71
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Workforce rebalancing
severance charges - - - - 14
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Amortization of acquired
intangible assets - - 4 3 14
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Stock-based compensation* 16 13 16 63 81
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Non-GAAP operating income
(loss) $ (39) $ (97) $ 52 $ (253) $ 316
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