AMD reports Q1'04 financials

AMD has posted its first quarter financials for 2004 and things look pretty promising. The company reported a net income of $45 million on sales of over $1.2 billion. Sales are up 73% from the first quarter of last year, too.
“Our performance in the first quarter of 2004 was driven by record sales, solid growth and strong execution,” said Robert J. Rivet, AMD’s chief financial officer. “Our Flash memory and microprocessor businesses delivered solid sales results in a seasonally down quarter and both business lines were profitable. Sales were especially strong in Asia Pacific and Latin America.
AMD's memory group was responsible for roughly half the company's first quarter sales, and enterprise Opteron adoption is given credit for bolstering the average selling price of AMD's processors.

Looking forward, AMD's 0.09-micron yields are apparently high with "excellent power consumption and heat dissipation characteristics." AMD is scheduled to begin production of 0.09-micron chips in the second quarter of the year and deliver product in the third quarter.

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