Sunnyvale, CA - NOVEMBER 18, 2002 - AMD (NYSE: AMD) today announced that it currently estimates that restructuring and other special charges in its fourth quarter will be in the range of $300 million to $600 million, inclusive of charges associated with the Company's restructuring and cost-cutting initiatives announced on November 14, 2002.
AMD stated that the Company also expects to record a charge to income tax expense in the fourth quarter in order to establish a 100% valuation allowance against its net deferred tax assets, which were $263 million as of the third quarter ended September 29, 2002. This charge to income tax expense would reduce after-tax results of operations but would not affect cash, cash flows or pre-tax results of operations for the quarter.
The Company estimates that the impact of these two sets of charges in the fourth quarter would be $300 to $600 million on a pre-tax basis and $563 million to $863 million on an after-tax basis (consisting of the $300 to $600 million pre-tax charges for restructuring and other special charges and a $263 million non-cash charge to tax expense for the 100% valuation allowance).
The Company plans to announce results for the fourth quarter and the year on January 16, 2003.
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Over AMD
AMD (NYSE: AMD) is wereldwijd leverancier van integrated circuits (Flash Memory), onder andere toepasbaar in mobiele telefoons, en leverancier van processoren voor desktop PC’s, workstations, servers en notebooks. De producten worden gefabriceerd in Europa, de Verenigde Staten, Japan en Azië. AMD, opgericht in 1969, is een Fortune 500 en Standard & Poors 500-bedrijf. Het hoofdkantoor bevindt zich in Sunnyvale, Californië. Voor meer informatie: www.amd.com
Voor meer informatie:
Whizpr
Winnie Silvertand
Telefoon: +31 (0) 317 410 483
E-mail: amd@whizpr.nl