In the fourth quarter of 2008, AMD reported a net loss of $1.424 billion, or $2.34 per share. For continuing operations, fourth quarter 2008 loss was $1.414 billion, or $2.32 per share, and the operating loss was $1.274 billion. The results for continuing operations include an unfavorable impact of $996 million, or $1.64 per share as described in the table below. Loss from discontinued operations was $10 million, or $0.02 a share.
For the year ended December 27, 2008, AMD achieved revenue of $5.808 billion. Fiscal 2008 net loss was $3.098 billion. AMD reported revenue of $5.858 billion and a net loss of $3.379 billion for fiscal 2007.
| Reconciliation of GAAP to Non-GAAP Net Loss 1, 2, 3 | ||||||||||||||||||||||||
| (Millions except per share amounts) | Q4-08 | Q3-08 | Q4-07 | |||||||||||||||||||||
| GAAP net loss / EPS | $ | (1,424 | ) | $ | (2.34 | ) | $ | (127 | ) | $ | (0.21 | ) | $ | (1,772 | ) | $ | (3.06 | ) | ||||||
| Loss from discontinued operations | (10 | ) | (0.02 | ) | (150 | ) | (0.25 | ) |
(474 |
) |
(0.82 | ) | ||||||||||||
| Income (loss) from continuing operations | (1,414 | ) | (2.32 | ) | 23 | 0.04 | (1,298 | ) | (2.24 | ) | ||||||||||||||
| ATI impairment of goodwill and acquired intangible assets | (684 | ) | (1.12 | ) | (2 | ) | - | (1,132 | ) | (1.96 | ) | |||||||||||||
| Incremental write-down of inventory | (227 | ) | (0.37 | ) | - | - | - | - | ||||||||||||||||
| Process technology license revenue | - | - | 191 | 0.31 | - | - | ||||||||||||||||||
| Marketable securities net impairment charges | (21 | ) | (0.03 | ) | (9 | ) | (0.01 | ) | (69 | ) | (0.12 | ) | ||||||||||||
| Amortization of acquired intangibles, integration and other charges | (30 | ) | (0.05 | ) | (30 | ) | (0.05 | ) | (50 | ) | (0.09 | ) | ||||||||||||
| Restructuring charges | (50 | ) | (0.08 | ) | (9 | ) | (0.01 | ) | - | - | ||||||||||||||
| Tax benefit from ATI acquisition-related charges | - | - | - | - | 46 | 0.08 | ||||||||||||||||||
| The Foundry Company formation costs | (23 | ) | (0.04 | ) | (4 | ) | (0.01 | ) | (3 | ) | (0.01 | ) | ||||||||||||
| Gain on debt buyback | 39 | 0.06 | - | - | - | - | ||||||||||||||||||
| Non-GAAP net loss | $ | (418 | ) | $ | (114 | ) | $ | (90 | ) | |||||||||||||||
| Reconciliation of GAAP to Non-GAAP Operating Income (Loss) 1, 2, 3 | ||||||||||||
| (Millions) | Q4-08 | Q3-08 | Q4-07 | |||||||||
| GAAP operating income (loss) | $ | (1,274 | ) | $ | 122 | $ | (1,187 | ) | ||||
| ATI impairment of goodwill and acquired intangible assets | (684 | ) | (2 | ) | (1,132 | ) | ||||||
| Incremental write-down of inventory | (227 | ) | - | - | ||||||||
| Process technology license revenue | - | 191 | - | |||||||||
| Amortization of acquired intangibles, integration and other charges | (30 | ) | (30 | ) | (50 | ) | ||||||
| Restructuring charges | (50 | ) | (9 | ) | - | |||||||
| The Foundry Company formation costs | (23 | ) | (4 | ) | (3 | ) | ||||||
| Cost of fair value adjustment of acquired inventory | - | - | - | |||||||||
| Non-GAAP operating loss | $ | (260 | ) | $ | (24 | ) | $ | (2 | ) | |||
