Rory Read Posts

Advanced Micro Devices, Inc (AMD) Is Profitable Again

AMD Logo
Advanced Micro Devices, Inc (NYSE:AMD) is profitable again thanks to the game console market.  AMD reported net income of $48 million on revenues of $1.46 billion, compared to a loss of $131 million in the same period last year on revenues of $1.27 billion.

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Rory Read: “We Are Not Actively Pursuing The Sale Of AMD”

AMD CEO Rory Read has responded to a Reuters article that said the semiconductor company is putting themselves up for sale after posting disappointing Q3 results last month. Below is a candid e-mail that AMD CEO Rory Read sent out internally.

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AMD Reports A Quarterly Loss Of $157 Million, Lays Off 15% Of Workers

About a week ago, we reported that AMD is laying off 20-30% of their workforce.  The company recently reported a quarterly loss of $157 million and revenues are down 10%.  The company reduced their workforce by around 15%.  AMD reported Q3 2012 revenue of $1.27 billion, which is a 10% decrease since last quarter and 25% for the same time last year.

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AMD CFO Thomas Seifert Steps Down

Thomas Seifert
Thomas Seifert, the SVP and CFO of Advanced Micro Devices, has stepped down from the company.  Seifert worked at the company for about three years.  Seifert became interim CEO in early 2011 until Rory Read filled in for him.  Seifert left to “pursue other opportunities,” but AMD’s current SVP and corporate controller will replace Seifert on an interim basis.  Check out the press release below:

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