Having completed its metamorphosis into separate design and manufacturing firms, AMD probably feels as though a major weight has been lifted from its shoulders. However, the company still has some financial ground to make up. On the bright side, AMD's first quarter revenue of $1.77 billion remained flat (rather than tumbling backwards) compared to the fourth quarter of 2008. However, it also represents a decrease of 21 percent compared to the first quarter of 2008.
" AMD’s sequential microprocessor unit and revenue growth in difficult economic conditions demonstrate we can grow in an environment where customers are looking for maximum value," said Dirk Meyer , AMD president and CEO. "We delivered on a number of important priorities in the first quarter. We launched GLOBALFOUNDRIES, maintained our cadence of new product and platform introductions, and made solid progress on our restructuring activities. The result is a more nimble AMD, capable of achieving long-term success based on our strengths designing and integrating industry-leading computing and graphics technologies."
Despite turning in a $416 million first quarter loss, Meyer said AMD is "well positioned" as people have become more discerning for paying only what they need. Moving forward, the chip maker plans to switch over completely to 45nm this quarter and expects a positive cash flow for the second half of 2009.
Image Credit: AMD