February 12, 2001–Sunnyvale, California–Advanced Micro Devices (AMD) yesterday distributed $23.6 million in profit sharing to U.S. employees for the fourth quarter of 2000. Employees received the equivalent of approximately 3 weeks’ pay, half in cash and half in deferred compensation. The cumulative profit-sharing payout for 2000 amounted to an AMD record of more than $103 million, or nearly 12 weeks’ pay.
“AMD sales grew by 63% to $4.6 billion in a year when the worldwide semiconductor industry exceeded even the most optimistic forecasts and grew by 37%,” says W.J. Sanders III, AMD chairman and CEO. “I am proud beyond words of the performance of AMD employees during the past 12 months, and very pleased that we can share the rewards of our success.”
The current distribution represents approximately 10% of operating profits for the quarter ended December 31, 2000, when AMD reported sales of $1,177,172,000 and net income of $177,968,000.