SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 19, 2000--Led by strong seasonal consumer demand for personal computers, AMD today reported record sales of $968,710,000 and net income of $65,080,000 in the quarter ended December 26, 1999.
Net income amounted to $0.43 per diluted share. The company reported strong growth in the just-completed quarter and continuing strong demand in all of its product groups - the Computation Products Group, the Memory Group, and the Communications Group.
Sales grew by 46 percent from the immediate-prior quarter, and by 23 percent from the like period of 1998. In the immediate-prior quarter, AMD reported sales of $662,192,000 and a net loss of $105,545,000, or $0.72 per share. In the fourth quarter of 1998, AMD reported sales $788,820,000, which resulted in net income of $22,321,000, or $0.15 per diluted share.
At $2,857,604,000, AMD sales for 1999 grew by 12 percent and reached a record high for the company. For 1999, AMD reported a net loss of $88,936,000, or $0.60 per share. Results for 1999 include a one-time after-tax gain of $259,236,000 from the sale of Vantis Corporation, the company's programmable logic products subsidiary that was sold during the second quarter of 1999. Sales for AMD continuing product groups -- the Computation Products Group, Communications Group, and Memory Group -- grew by 17 percent over 1998. In 1998, AMD reported sales of $2,542,141,000, and a net loss of $103,960,000, or $0.72 per share.