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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): July 19, 2000
ADVANCED MICRO DEVICES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 1-7882 94-1692300
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
One AMD Place,
P.O. Box 3453
Sunnyvale, California 94088-3453
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(address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (408) 732-2400
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Page 1 of 4
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Item 5. Other Events.
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On July 19, 2000, Advanced Micro Devices, Inc. (the "Company")
announced its second quarter sales. The Company reported record net income of
$207,142,000 on record sales of $1,170,437,000 for its second quarter ended July
2, 2000. Net income amounted to $1.21 per diluted share after taxes. Sales
increased by 7 percent from the quarter ended April 2, 2000, and by 97 percent
from the quarter ended June 27, 1999. The full text of the press release is set
forth in Exhibit 99 attached hereto and is incorporated in this report as if
fully set forth herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits
Number Exhibit
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99.1 Press release dated July 19, 2000.
2
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<TABLE>
<CAPTION>
Advanced Micro Devices, Inc.
CONSOLIDATED BALANCE SHEETS*
(Thousands)
July 2, Dec. 26,
2000 1999
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<S> <C> <C>
Assets
Current assets:
Cash, cash equivalents and short-term investments $ 1,079,893 $ 596,511
Accounts receivable, net 533,007 429,809
Inventories 255,579 198,213
Deferred income taxes 63,440 55,956
Prepaid expenses and other current assets 127,472 129,389
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Total current assets 2,059,391 1,409,878
Property, plant and equipment, net 2,475,667 2,523,236
Investment in joint venture 267,448 273,608
Other assets 160,988 170,976
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$ 4,963,494 $ 4,377,698
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Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable 353,398 387,193
Accrued compensation and benefits 155,779 91,900
Accrued liabilities 233,256 273,689
Income tax payable 18,763 17,327
Deferred income on shipments to distributors 99,590 92,917
Current portion of long-term debt, capital
lease obligations and other 75,951 47,626
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Total current liabilities 936,737 910,652
Deferred income taxes 101,861 60,491
Long-term debt, capital lease obligations and other,
less current portion 1,481,725 1,427,282
Stockholders' equity:
Capital stock:
Common stock, par value 1,649 1,496
Capital in excess of par value 1,219,409 1,121,956
Retained earnings 1,269,726 873,235
Accumulated other comprehensive loss (47,613) (17,414)
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Total stockholders' equity 2,443,171 1,979,273
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$ 4,963,494 $ 4,377,698
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</TABLE>
* Amounts as of July 2, 2000 are unaudited. Amounts for December 26, 1999 are
derived from the December 26, 1999 audited financial statements.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ADVANCED MICRO DEVICES, INC.
Date: July 28, 2000 By: /s/ Francis P. Barton
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Francis P. Barton
Senior Vice President, Chief Financial
Officer
4
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Exhibit Index
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Number Exhibit
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99.1 Press release dated July 19, 2000.
5
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Advanced Micro Devices, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Thousands except per share amounts)
<TABLE>
<CAPTION>
Quarter Ended Six Months Ended
(Unaudited) (Unaudited)
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Jul. 2, Apr. 2, Jun. 27, Jul. 2, Jun. 27,
2000 2000 1999 2000 1999
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<S> <C> <C> <C> <C> <C>
Net sales $ 1,170,437 $ 1,092,029 $ 595,109 $ 2,262,466 $ 1,226,702
Cost of sales 612,567 605,757 458,339 1,218,324 908,770
Research and development 155,651 161,297 167,278 316,948 327,224
Marketing, general and
administrative 152,022 144,306 124,520 296,328 251,830
Restructuring and other
special charges - - 17,514 - 32,530
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920,240 911,360 767,651 1,831,600 1,520,354
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Operating income (loss) 250,197 180,669 (172,542) 430,866 (293,652)
Gain on sale of Vantis - - 432,059 - 432,059
Interest income and other, net 19,935 21,128 7,252 41,063 18,020
Interest expense (11,244) (11,479) (18,087) (22,723) (38,850)
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Income before income taxes
and equity in joint venture 258,888 190,318 248,682 449,206 117,577
Provision for income taxes 51,778 - 172,823 51,778 167,350
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Income (loss) before equity
in joint venture 207,110 190,318 75,859 397,428 (49,773)
Equity in net income (loss) of 32 (969) 4,037 (937) 1,302
joint venture
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Net income (loss) $ 207,142 $ 189,349 $ 79,896 $ 396,491 $ (48,471)
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Net income (loss) per common share
- Basic $ 1.34 $ 1.25 $ 0.54 $ 2.60 (0.33)
- Diluted $ 1.21 $ 1.15 $ 0.53 $ 2.36 (0.33)
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Shares used in per share
calculation
- Basic 154,558 150,880 146,947 152,719 146,428
- Diluted 176,218 171,942 149,540 174,080 146,428
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</TABLE>
