AMD income to grow slighjtly in Q3

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AMD income to grow slighjtly in Q3

AMD said that its net income for the third quarter ended September 26, 2004 is anticipated to increase from the $32 million reported in the second quarter of 2004 despite slightly lower sales. The company’s prior guidance for the third quarter was for sales to be up moderately from second quarter sales of $1.262 billion.

“Our gross margin and net income are expected to improve sequentially from the second quarter of 2004, largely due to significantly higher sales and stronger ASPs in our processor business.” said Robert J. Rivet, AMD’s Chief Financial Officer. “Although third quarter sales are anticipated to be lower than projected due to softness in our profitable Flash memory business, sales in our microprocessor business remained strong driven by increased demand for AMD64 processors.”

AMD will report its third quarter 2004 results after market close on Thursday, October 7, 2004. Intel will follow on October 12.