EU, Indonesia negotiate partnership

Jakarta (The Jakarta Post/ANN) – Indonesia and the European Union (EU) began negotiations on Monday on a comprehensive economic partnership agreement (CEPA) that seeks to eliminate over 95 per cent of import tariffs on goods and improve bilateral investment.
The chief operating officer of the EU’s external action service, David O’Sullivan, said the Indonesia-European Union CEPA would be very important for the economic growth of both regions amidst the global economic turmoil.
“We already are a major trading and investment partner of Indonesia. In fact, we have huge complementarity. We believe it is very beneficial in terms of trade and investment to have an agreement with Indonesia. It is a win-win solution for both sides,¿ O’Sullivan said.
The EU has a combined non oil and gas trade value of US$32 billion in 2011 with Indonesia, an all time high, and a trade surplus of $8 billion for Indonesia.
In terms of investments, businesses from the EU invested up to $2.2 billion in 2011, making it the second-largest source of foreign investment into Indonesia. EU companies also employ over 500,000 employees in Indonesia.
“It is time to start the negotiation. From our perspective, trade negotiation typically takes a couple of years but this negotiation could go relatively quickly,¿ O’Sullivan said.
Based on policy recommendations from a joint study team, the CEPA would cover improvements in market access, capacity building and facilitation of trade and investment. On trade, the agreement would implement gradual tariff reduction within a period of nine years, eliminating 95 per cent of tariffs and possibly even the remaining 5 per cent.
The capacity-building program would include a permanent forum for business-to-business and business-to-government technical dialogue and joint financing for programs. CEPA would also cover standard protocols for joint cooperation in infrastructure development under the so-called private-partnership framework.
House of Representatives’ trade commission chairman Airlangga Hartarto said that the multitude of issues being discussed meant the agreement could potentially provide many beneficial opportunities for both regions.
“This is not a Free Trade Area (FTA) agreement but will be more comprehensive. The issues being discussed include trading, investment and capacity-building. These issues make this agreement different from the FTA, which only aims at eliminating levies,¿ Airlangga said.
Indonesian Employers’ Association (Apindo) chairman Sofjan Wanandi said that he expected EU investment to provide benefits to small- and medium-scale enterprises (SMEs), a sector on which Indonesia relied heavily for growth.
“I believe this [agreement] will benefit both sides and we must also involve SMEs in our future investment plans. We are going to promote this agreement throughout the essential business regions in the country,¿ Sofjan said.
“Now that the negotiation is underway, we need to promote this agreement to the public so that they can give us their input. This [negotiation] will take time and therefore Indonesia must play the main role in ensuring the discussions go in line with our interests,¿ he added.
Indonesian Chamber of Commerce and Industry (Kadin) deputy chairman for international trade Emirsyah Satar said that establishing a comprehensive partnership with the EU was important because there was still a lot of untapped potential.
“We rank only at number 23 in the world in imports to the EU. On the other hand, the EU is the fourth-largest exporter into Indonesia. So, there is still a lot of room for business growth,¿ Emirsyah said.
COPYRIGHT: ASIA NEWS NETWORK

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Saxo Bank Launches Contract Options

HELLERUP, Denmark, February 13, 2012 /PRNewswire/ –
Saxo Bank, the online trading and investment specialist, expands its derivatives offeringby introducing Contract Options.
Contract Options is a trading product that includes listed options on stock indices, commodities, interest rates, currencies and bonds. The products are available on the Bank’s trading platforms; SaxoTrader, SaxoWebTrader and MobileTrader.
New features available through the platforms when trading Contract Options include:
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• A new Options Chain which offers an overview of option prices across strikes and maturities, giving easy access to trading
• Online exercise of Options through the position list
• Margin-netting across option legs which improve the margin required when trading option strategies on an instrument
• Cross-product margin utilisation which allows the use ofcash stocks as margin collateral for Contract Option trading
• Support for Limit, Stop and Market orders

Patrice Henault, Product Manager at Saxo Bank, comments: “More and more of our risk-aware clients use Contract Options to diversify their portfolios, which is why we have added this new tool. Although an Option is considered an investment product that is highly complex and bears high risk, we believe investors should be offered all instrumentsavailable to get the most out of the markets. With Contract Options we have added another powerful tool to our vast existingoffering of investment products.
“Saxo Bank’s analysts believe that precious metals like gold will continue to benefit from continued risk aversion in 2012.They also see good potential for higher prices, especially among commodities with constrained supply. Allowing investors to access the global optionsmarkets including gold, oil and other commodities, currencies, interest rates, bonds and major stock indicesis of high importance to investors in the current climate, and this new addition to our platforms will deliver significant value to investors.”
About Saxo Bank
Saxo Bank is a leading online trading and investment specialist. A fully licensed and regulated European bank, Saxo Bank enables private investors and institutional clients to do Forex Trading and trade, CFDs, ETFs, Stocks, Futures, Options and other derivatives via three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and theSaxoMobileTrader application available in over 20 languages. Saxo Bank also offers professional portfolio and fund management through Saxo Asset Management who accommodates high-net worth private clients and institutional investors and provides banking services and advice to retail clients through Saxo Privatbank.The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East, Latin America and Australia.

Cambrios Technologies Enters Strategic Growth Phase with New CEO, John LeMoncheck, and New Funding from Samsung …

SUNNYVALE, Calif.–(BUSINESS WIRE)– Cambrios Technologies Corporation, the leader in nanotechnology-based solutions to enable the development of electronic devices with transparent conductors, entered a new strategic phase today with the appointment of John LeMoncheck as President and CEO, and a $5 million Series D-3 financing round from Samsung Venture Investment Corporation. Both announcements advance Cambrios’ efforts to accelerate product introductions and commercial growth in multiple consumer electronic device markets. Dr. Michael R Knapp, Cambrios founding President and CEO, will become Chairman.
New President and CEO Brings Industry Leadership
“Adding John to the Cambrios executive team was the culmination of an extensive search led by previous CEO and now Chairman, Michael Knapp,” said Clint Bybee, current board member and managing partner at ARCH Venture Partners, an investor in Cambrios. “We welcome John and thank Mike for his leadership of the company, and for helping us recruit a world-class CEO to propel the next phase of Cambrios’ growth.”
LeMoncheck brings extensive expertise in the technology and consumer electronics industries and in forging commercial partnerships. Most recently, as President and CEO of SiBEAM, a pioneer in 60 GHz-based millimeter wave wireless technology, LeMoncheck developed the company into a leader in multi-gigabit communications for the consumer electronics market and successfully led the acquisition of the company by Silicon Image (NASDAQ: SIMG – News).
“John’s successful track record of collaborating with customers and developing essential industry-wide partnerships makes him the ideal candidate to lead and help cultivate new relationships for Cambrios,” said Dr. Leighton Read, current board member and a partner at Alloy Ventures, an investor in Cambrios.
“Cambrios has a unique opportunity resulting from its breakthroughs in the development of transparent conductor solutions with leading-edge optical and conductive properties,” said John LeMoncheck, Cambrios’ new president and CEO. “The company is poised to transform the touch, display, photovoltaic and lighting markets by enabling new and exciting consumer electronics applications. I look forward to working with the team to quickly make this a reality.”
New Investment Signals New Phase for Growth
Samsung Venture Investment Corporation’s investment of $5 million in series D-3 financing will be critical in the advancement of Cambrios’ objective to achieve commercial growth. Leading into this investment, Cambrios was in close discussions for collaboration on important and valuable projects with the Samsung Group over the past several years.
“This strategic partnership with Samsung Venture Investment Corporation offers the opportunity to increase the pace with which we can bring tangible, significant value to Samsung Group companies in their products,” said LeMoncheck. “This is a very important milestone for the overall penetration of ClearOhm™ materials in our target markets.”
Cambrios ClearOhm™ material, which can be purchased from the company as a coating material for plastic or glass, is currently the only product capable of providing the top tier performance required of today’s electronics products by helping manufacturers to consistently achieve better transmission and resistance than is possible with indium tin oxide (ITO). It can also be purchased as already deposited on PET film and others substrates or as a transfer film from several different optical film providers.
“Cambrios leads the market with the development of an alternative to vacuum-deposited ceramic materials such as ITO. It has built a significant business in developing ground-breaking products using nanotechnology,” said Dr. Dong Su Kim, Investment Director, Samsung Ventures, America. “John LeMoncheck’s excellent business vision and Cambrios’ technical accomplishments have led to innovative products that are critical to driving increased adoption of ClearOhm™ materials. We look forward to contributing to Cambrios’ continued progress in powering various consumer electronics applications with its ClearOhm™ technology.”
About John LeMoncheck
John LeMoncheck is a distinguished leader of both startups and public companies. Prior to SiBEAM, he was vice president of Consumer Electronics and PC/Display Products for Silicon Image, where he led to the company’s successful launch and commercialization of the HDMI standard, now used in over 2 billion devices as the preferred digital conductivity solution for consumer devices. Prior to Silicon Image, LeMoncheck was vice president of software and systems engineering at TeraLogic, subsequently purchased by Zoran and now owned by CSR. Prior to joining TeraLogic, LeMoncheck was a member of the founding team and vice president of engineering at Arithmos, Inc., which was successfully acquired by STMicroelectronics. LeMoncheck was also a member of technical staff at Synaptics, a leading developer of interface solutions for the mobile computing and entertainment industries. He has a bachelor’s degree in electrical engineering from U.C. San Diego and spent several years researching VLSI for imaging and pattern recognition applications at Caltech.
About Cambrios
Cambrios leads the industry in the development of proprietary, competitive products for consumer electronics markets using nanotechnology. Cambrios’ breakthroughs in nanotechnology-based transparent electrodes simplify electronics manufacturing processes and improve end-product performance for current and future next-generation consumer devices. The company’s first product, its ClearOhm™ coating material, produces a transparent, conductive film by wet processing and has significantly higher optical and electrical performance than currently used materials such as indium tin oxide and other transparent conductive oxides. Applications of ClearOhm™ coating material include transparent electrodes for touch screens, liquid crystal displays, e-paper, OLED devices, OLED lighting and thin film photovoltaics.
ClearOhm™ is a registered trademark of Cambrios Technologies Corporation.
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Mega hub of opportunities

ABU DHABI – UAE’s investors can build a mega business district in South Korea’s capital Seoul, besides buying shares and equities, and bonds. They can also set up joint ventures in technology, Research & Development, manufacturing and financial services, officials said.
The economic planners at the Korea Trade Investment Promotion Agency in Seoul think that the UAE’s money can create hundreds of ‘wonder projects’ in both the countries and elsewhere, using their technological prowess.
South Korea, which invests more than five per cent of the $1 trillion gross domestic product into research and development annually, is proud of technology and highly skilled human resources. They believe that UAE’s financing can help translate their hi-tech research into finished goods for the global consumers.
These views were expressed by South Korean officials unofficially at the Foreign Investment Week, held at Seoul recently. Organised by Korea Trade Investment Promotion Agency, or KOTRA, the seminar attracted investors and investment advisors from around the world.
Sharing the thinking in the agency, an official said, “Abu Dhabi has an ambitious economic transformation plan aiming at creating new economic sectors to diversify its growth by 2030.”
The UAE’s investors can benefit from Korean business intelligence on Asia, and vice versa South Koreans could make use of the UAE’s influence in the MENA region.
South Korean industrial and technology-rich companies are in a position to contribute their expertise and knowledge to realise Abu Dhabi’s industrial ambitions in a big way by setting up joint venture projects in the Khalifa Industrial Zone Abu Dhabi, or Kizad.
An official of KOTRA, which was behind South Korea’s great strides of attracting $17 billion in foreign direct investments last year, told Khaleej Times, the UAE’s investors can enter into joint ventures with the thousands of South Korea’s SMEs, which have technology and expertise in different industries in their bid to expand their product base in and outside of the Korean Peninsula.
South Korea’s industrial sector is fast catching up the biggest manufacturing power house in the world that’s why it needs capital.
Already it ranks number one in ship-building with 44.4 per cent share in the world market; it’s the  third in semi-conductor making with 11.2 per cent of the global share; its fourth in electronics, as in one in two of the LCDs, and one in four mobile phone sets under use in the world are manufactured there.
Capital-hungry, South Korea also wants investments to set up hi-tech industries in almost all sectors, particularly to manufacture PV solar panels, organic LEDs, apart from aluminum smelters, cables and wires, auto parts and others.
One of the most exciting areas of investment in the fast growing economy is the real estate development, where several of the UAE companies with global exposure can make money.
The South Korean economy, which was least affected by the sovereign debt crisis in the Europe and US, is also welcoming portfolio investors from the UAE to invest into its stock exchange, which is really doing well on the back of strong industrial economy. The bond market and private equity are also quite attractive for the UAE investors.
While the industrial economies in the West are threatened by the downgrades in their credit worthiness, Korea’s credit rating forecast has been upgraded.
Korea ranked 8^th out of 183 countries in the World Bank’s 2011 Doing Business report, up 8 levels from last year. And, according to the recent OECD report on the restrictiveness of FDI regulations, Korea has jumped from ranking 41^st out of 42 countries in 1997 to 10^th in 2010. South Korea is seeking foreign investments into its high growth economic sectors of renewable energy, service industry, research and development and logistics.
Other areas in which, Asia’s third biggest economy is attracting investments include chemical and electronic material industries.
Incentives to attract foreign investors in FEZs include:  corporate tax, income tax break for a period of 5-7 years (100 per cent in the first 3-5 years and then 50 per cent in the next two years); acquisition and registration tax 100 per cent for the first 15 years; property tax 100 per cent for the first 10 years, 50 per cent for the next three years; rent/lease reduction is also providing depends on the investment amount.
Among exciting investment opportunities for the UAE investors include a new business district in the heart of Seoul is being developed by a group of 30 companies. Along with several other mega infrastructure projects including the development of six economic free zones and mixed use real estate projects. 
Investment is also sought for Yongsan International Business District, a project to be completed in 2016, which will comprise 67 multi-storied buildings and big civic structures including a landmark, the tallest 100-floors. The $30 billion mega project’s gross floor area is as huge as 3.46 million square metres. The mega development will include office and retail spaces, luxury apartments, hotels, and cultural facilities. It will be the world’s brightest LED skyline, as all the buildings will be covered with LED, which will light-up in evenings.
Foreign direct investment in South Korea gained 4.6 per cent last year on largely increased investment from advanced countries. South Korea attracted $13.67 billion in FDI last year, compared with $13.07 billion in 2010, according to the Ministry of Knowledge Economy.
“Foreign investment in South Korea is beginning to grow and the amount reached more than $13 billion in 2011 for the second consecutive year since 2010, while the average amount since 2000 stayed below $12 billion,” it said in a latest report.
“This appears to reflect the growing confidence of the international community in the South Korean economy.”
Direct investment from advanced countries surged 33.6 per cent on-year to about $9.69 billion with FDI from EU nations jumping 57.4 per cent and the United States 20.2 per cent.
Investment from China increased 21.6 per cent to $1.94 billion over the cited period but investment from the Middle East plunged 46.2 per cent to $92 million as investor sentiment remains low amid continued political unrest in the region.
The FDI in South Korea’s service sector gained 15.4 per cent from a year earlier to $7.27 billion while foreign investment in the country’s manufacturing industry dropped 15.1 per cent to $5.65 billion.
The ministry said FDI in 2012 will likely remain at around $13 billion. The UAE-Korea economic partnership is strengthening every passing day, as the leadership of the both nations values fostering these relations. The warm relations have also resulted in the closer cooperation in developing economic projects for mutual benefits.
Abu Dhabi’s confidence in  South Korea is also reflected from the award of the $20 billion project to build 1600 megawatt Nuclear Plants deal, which has deepened the relations since then. This is not it, in the last 18-months Korea’s engineering and construction companies have snatched $25 billion worth oil and gas development projects in Abu Dhabi.
Sky is the limit for Korea’s companies in the UAE.
 haseeb@khaleejtimes.com
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Verizon Investment Join $8M Round for Skyfire Labs

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Posted January 26, 2012
Skyfire Labs, a leader in mobile video optimization and cloud solutions for mobility, today announced it has raised $8 million in its Series C financing. Verizon Investments LLC, a subsidiary of Verizon Communications Inc. participated in the round, alongside current investors Matrix Partners, Trinity Ventures, and Lightspeed Venture Partners. Verizon’s investment was arranged by Verizon Ventures, which seeks promising entrepreneurial companies that complement Verizon networks and service platforms. Skyfire will use the funds to meet the demands of its growing list of wireless operator customers through increased engineering, sales and support resources, and also to expand into European and Asian markets.
“Wireless operators around the world are facing an explosion in mobile data on their networks, driven largely by mobile video,” said Andrew Verhalen, general partner at Matrix Partners. “Skyfire is well positioned with solutions for operators that can expand network capacity by over 25 percent, as well as generate incremental revenue.”
“Skyfire is poised to expand globally in 2012 after winning deployments with two tier-one operators in North America, and adding world-class international executive talent,” added Larry Orr, general partner at Trinity Ventures.
Concurrent with this latest financing, Skyfire has announced a new European footprint. John Rintoul has been named vice president of sales for Skyfire’s newly-opened EMEA office, based in London. Rintoul previously led sales with the Vodafone account for Cisco’s Mobile Internet Technology Group, and prior to that, was a sales executive at Starent Networks, Juniper Networks, and Kagoor Networks. Skyfire also announces Scott Boehmer has been named vice president of sales for Americas. Boehmer previously was vice president of sales for SEVEN networks, and a product executive at Sprint. Both regional leads will now report to Skyfire’s SVP Global Sales, Jason Guesman.
“Skyfire’s Rocket Optimizer product is delivering an average of 60 percent savings for operators on video bandwidth,” said Jeff Glueck, CEO of Skyfire. “We welcome the participation of Verizon, which is renowned for its network planning sophistication.”
Rocket Optimizer 2.0, the latest iteration of Skyfire’s powerful carrier-grade network video and data optimization platform, was launched in October 2011. With mobile video demand expected to rise steeply over the next three years, Rocket 2.0 aims to help carriers solve capacity issues linked to the rapid rise of mobile video streaming. The solution offers real-time optimization of mobile video to enable smoother streaming, and can be applied to specific cell towers or backhaul regions as soon as congestion is detected. Rocket Optimizer 2.0 also offers the broadest support for video formats, including the world’s first instant MP4 optimization (which comprises more than 50 percent of today’s mobile video, including most HTML5 and iOS video). By leveraging cloud computing power, Skyfire’s solution is highly cost effective to scale on both 3G and 4G LTE networks.
Full details about the Rocket 2.0 platform can be found here: http://www.skyfire.com/en/for-operators.
Skyfire also offers the Rocket Toolbar product line, a fully customizable web-based operator portal embedded in the default browser of new smartphones. The Rocket Toolbar adds value for users on every page of the Internet by making browsing more social, facilitating app discovery, m-commerce, and quick access to news updates. The Rocket Toolbar has been selected by a tier one North American carrier for upcoming deployment, and is in numerous trials across the U.S. and Europe.
Full details about the Rocket Toolbar platform can be found here:
http://www.skyfire.com/en/for-operators/rocke….
Skyfire will continue to maintain its consumer app business as a showcase and laboratory for its technology. Skyfire apps across Apple iOS® and Google Android® devices have been downloaded by over 12 million users.
To learn more about Skyfire, visit: http://www.skyfire.com.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a leading global venture capital firm with over $2 billion of committed capital under management. Lightspeed’s investment professionals and advisors are located in Silicon Valley, China, India and Israel. Over the past two decades, the Lightspeed team has backed more than 150 companies, many of which have become leaders in their respective markets, including Blue Nile, Brocade, Calista, Ciena, DoubleClick, eHealth, Galileo Technology, Growth Networks, Informatica, Kiva Software, LightLogic, Maker Communications, Metasolv, Openwave, Quantum Effect Devices, Riverbed, Sirocco, Virsa Systems and Waveset.
About Matrix Partners
Matrix Partners is a premier venture capital firm that has generated outstanding returns for more than three decades. By focusing on early-stage investments and emphasizing long-term relationships with entrepreneurs, the firm has delivered several of the industry’s top performing funds of all time. Matrix Partners has offices in Cambridge and Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. Matrix Partners has invested in several game-changing, industry-leading businesses such as Apple Computer, Gilt Groupe, JBoss, Netezza, Phone.com, Polyvore, Starent Networks, Sycamore Networks, Veritas, Zendesk, and Zong.
About Trinity Ventures
Founded in 1986, Trinity Ventures is an early stage venture capital firm dedicated to partnering with passionate entrepreneurs to transform revolutionary ideas into reality. With over $1 billion under management, Trinity Ventures believes in personal engagement, mutual respect and goal alignment with the entrepreneurs. Trinity focuses on early stage and seed technology investments with particular emphasis on social shopping and entertainment, cloud computing, mobility, and internet infrastructure areas.
Trinity Ventures has invested in such leading companies as Aruba Networks, 21Vianet, Blue Nile, LoopNet, Photobucket, SciQuest, Starbucks, BeachMint, Infoblox, Trion Worlds and Zulily.
About Verizon Ventures
Verizon Ventures arranges investments in promising entrepreneurial companies to drive innovation in Verizon Communications Inc. The portfolio arranged by Verizon Ventures focuses on new products, technologies, applications and services that complement Verizon networks, service platforms and distribution channels. Deal size ranges from seed capital to $5 million depending on the needs and opportunities. Verizon Ventures often arranges investments with other venture firms and strategic partners.
About Skyfire:
Skyfire is dedicated to leveraging the power of cloud computing to improve radically the mobile Internet experience for both Operators and Consumers. Skyfire’s solutions provide game-changing cost savings, better end-user experiences, and compelling incremental revenue opportunities. Skyfire was recently recognized as no. 4 on Light Reading’s 2011 Startups to Watch list; and by OnMobile as a Top 100 Private Company. As both a laboratory and showcase for new capabilities, Skyfire has honed its technology through a variety of consumer apps, which have more than 12 million downloads to date.
Skyfire is based in Mountain View, Calif., in the heart of Silicon Valley.

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AMD Reports Fourth Quarter and Annual Results

SUNNYVALE, CA–(Marketwire -01/24/12)- AMD (NYSE: AMD – News)
Q4 2011 Results

• AMD revenue $1.69 billion, flat sequentially and increased two percent year-over-year
• Net loss $177 million, loss per share $0.24, operating income $71 million
• Non-GAAP(1) net income $138 million, earnings per share $0.19, operating income $172 million
• Gross margin 46 percent

2011 Annual Results

• AMD revenue $6.57 billion, flat year-over-year
• Net income $491 million, earnings per share $0.66, operating income $368 million
• Non-GAAP(1) net income $374 million, earnings per share $0.50, operating income $524 million
• Gross margin 45 percent
• More than 30 million Accelerated Processor Unit (APU) shipments in 2011 drives record annual notebook revenue

AMD (NYSE: AMD – News) today announced revenue for the fourth quarter of 2011 of $1.69 billion, net loss of $177 million, or $0.24 per share, and operating income of $71 million. The company reported non-GAAP net income of $138 million, or $0.19 per share, and non-GAAP operating income of $172 million. Fourth quarter non-GAAP net income excludes an impairment of AMD’s investment in GLOBALFOUNDRIES of $209 million, restructuring charges of $98 million, the loss from discontinued operations of $4 million, the amortization of acquired intangible assets of $3 million and a loss on debt repurchase of $1 million.
For the year ended December 31, 2011, AMD reported revenue of $6.57 billion, net income of $491 million, or $0.66 per share, and operating income of $368 million. Full year non-GAAP net income was $374 million, or $0.50 per share, and non-GAAP operating income was $524 million.
“AMD shipped more than 30 million APU’s in 2011, resulting in record annual notebook revenue,” said Rory Read, AMD president and CEO. “The unmatched combination of computing and graphics capabilities in our low-power ‘Brazos’ platform has made it our fastest ramping platform ever, paving the way for continued growth in key segments and geographies. Our server business has re-gained momentum, delivering two consecutive quarters of strong sequential growth.
“We continued optimizing our financial model in 2011, consistently delivering operating income and creating the foundation for sustained success. We begin 2012 clear on our priorities and opportunities. We are building an AMD that consistently delivers on its commitments.”

GAAP Financial Results(2)

----------------------------------------------------------------------------
Q4-11         Q3-11      Q4-10        2011        2010
----------------------------------------------------------------------------
Revenue            $1.69B       $1.69B      $1.65B      $6.57B      $6.49B
----------------------------------------------------------------------------
Operating
income             $71M         $138M      $413M       $368M       $848M
----------------------------------------------------------------------------
Net income
(loss) /
Earnings
(loss) per
share        $(177)M/$(0.24) $97M/$0.13 $375M/$0.50 $491M/$0.66 $471M/$0.64
----------------------------------------------------------------------------

Non-GAAP Financial Results(1)

----------------------------------------------------------------------------
Q4-11       Q3-11       Q4-10        2011        2010
----------------------------------------------------------------------------
Revenue             $1.69B      $1.69B      $1.65B      $6.57B      $6.49B
----------------------------------------------------------------------------
Operating income    $172M       $146M       $141M       $524M       $553M
----------------------------------------------------------------------------
Net income /
Earnings per
share           $138M/$0.19 $110M/$0.15 $106M/$0.14 $374M/$0.50 $360M/$0.49
----------------------------------------------------------------------------

Quarterly Summary

• Gross margin was 46 percent, a sequential increase of one percent.
• Cash, cash equivalents and marketable securities balance, including long-term marketable securities, was $1.91 billion at the end of the quarter.
• Computing Solutions segment revenue increased two percent sequentially and seven percent year-over-year. The sequential increase was driven by double digit growth in Server and Chipset revenue. The year-over-year increase was driven by higher mobile processor and Chipset revenue.
  • Operating income was $165 million, compared with $149 million in Q3 11 and $91 million in Q4 10.
  • Microprocessor ASP increased sequentially and was flat year-over-year.
  • AMD launched its “Bulldozer”-based AMD Opteron™ 6200 Series and AMD Opteron 4200 Series processors, delivering industry-leading performance(3) for business, increased scalability for virtualization and more efficient economics for the cloud.
    • HP introduced five new ProLiant systems, including the industry’s fastest dual-socket database server.
    • Dell introduced four new PowerEdge systems, including the world’s most power-efficient blade server. The AMD-powered PowerEdge R715 was awarded Technology of the Year from InfoWorld magazine based on its outstanding virtualization performance.
    • The AMD Opteron 6200 Series Processors were honored with the Analysts’ Choice Award for Best Server Processor by the Linley Group and “Technology of the Year” from InfoWorld.
    • AMD Opteron processor adoption in the HPC market continued, as the National Science Foundation announced a new supercomputer at the University of Illinois’ National Center for Supercomputing Applications (NCSA) will be powered by approximately 50,000 AMD Opteron 6200 series processors.
  • Worldwide demand for AMD APUs continued to increase throughout the fourth quarter. AMD shipped more than 30 million APUs in 2011, including a record number of mobile processors found in notebooks from Acer, Asus, Dell, HP, Lenovo, MSI Samsung, Sony and Toshiba.
  • AMD introduced new A-Series notebook and desktop APUs that offer improved performance and enhanced features. We expect that systems based on the refreshed A-Series APU will be offered from the world’s largest PC companies in early 2012.
• Graphics segment revenue decreased five percent sequentially and 10 percent year-over-year. The sequential decrease was driven primarily by a decline in mobile graphics processor unit (GPU) shipments, partially offset by a seasonal increase in game console revenue. The year-over-year decrease was primarily driven by decreased desktop and Add-in Board (AIB) graphics revenue.
  • Operating income was $27 million, compared with $12 million in Q3 11 and $68 million in Q4 10.
  • GPU ASP increased sequentially and year-over-year.
  • In December, AMD launched the world’s fastest single-GPU graphics card(4) and the first member of its AMD Radeon™ HD 7000 Series graphics family, the AMD Radeon HD 7970. The HD 7970 delivers up to 150% performance improvement per square millimeter compared to our previous generation GPU, and is the industry’s first 28nm GPU(5).
  • AMD launched the AMD Radeon HD 7000M series mobile graphics processors for smaller form factor notebooks. Both HP and Lenovo announced new notebooks powered by the new GPU.
  • AMD is the industry leader in leading-edge graphics technology, having shipped more than 100 million DirectX® 11 graphics engines across its GPUs and APUs that enable superior visual experiences.
• Corporate
  • The Company announced a restructuring plan and implementation of operational efficiency initiatives designed to strengthen the Company’s competitive positioning. The Company plans to reinvest a significant portion of the anticipated savings to fund initiatives designed to accelerate AMD’s strategies for lower power, emerging markets, and the cloud.
  • AMD strengthened its leadership team with the additions of Mark Papermaster as senior vice president and chief technology officer, Rajan Naik as senior vice president and chief strategy officer, and Dr. Lisa Su as senior vice president and general manager, global business units.

Current Outlook
AMD’s outlook statements are based on current expectations. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
AMD expects revenue to decrease eight percent, plus or minus three percent, sequentially for the first quarter of 2012.
For additional detail regarding AMD’s results and outlook please see the CFO commentary posted at quarterlyearnings.amd.com.
AMD Teleconference
AMD will hold a conference call for the financial community at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its fourth quarter financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its Web site at AMD. The webcast will be available for 10 days after the conference call.
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income(1)

------------------------------------------------
(Millions except per share
amounts)                         Q4-11           Q3-11           Q4-10
----------------------------------------------------------------------------
GAAP net income (loss) /
Earnings (loss) per share    $(177) $(0.24)     $97   $0.13    $375   $0.50
----------------------------------------------------------------------------
Gross margin benefit due
to deconsolidation of
GLOBALFOUNDRIES                 -       -       -       -       -       -
----------------------------------------------------------------------------
Deconsolidation gain on
the fair value assessment
of investment in
GLOBALFOUNDRIES                 -       -       -       -       -       -
----------------------------------------------------------------------------
Equity income (loss) and
dilution gain in
investee, net                   -       -       -       -      27    0.05
----------------------------------------------------------------------------
Payment to GLOBALFOUNDRIES       -       -       -       -       -       -
----------------------------------------------------------------------------
Impairment of investment
in GLOBALFOUNDRIES          (209)  (0.28)       -       -       -       -
----------------------------------------------------------------------------
Non-GAAP net income
excluding GLOBALFOUNDRIES
related items                    32    0.04      97    0.13     348    0.47
----------------------------------------------------------------------------
Amortization of acquired
intangible assets           (3)       -     (8)  (0.01)    (11)  (0.01)
----------------------------------------------------------------------------
Legal settlement               -       -       -       -     283    0.39
----------------------------------------------------------------------------
Income tax related to
legal settlement              -       -       -       -    (47)  (0.06)
----------------------------------------------------------------------------
Gain on investment sale        -       -       -       -      17    0.02
----------------------------------------------------------------------------
Loss on debt repurchase      (1)       -     (5)  (0.01)       -       -
----------------------------------------------------------------------------
Restructuring (charges)
reversals, net             (98)  (0.13)       -       -       -       -
----------------------------------------------------------------------------
Loss from discontinued
operations*                 (4)  (0.01)       -       -       -       -
----------------------------------------------------------------------------
Non-GAAP net income /
Earnings per share             $138   $0.19    $110   $0.15    $106   $0.14
----------------------------------------------------------------------------
* Loss on discontinued operations consists of charges related to the sale of
our DTV division to Broadcom which occurred in 2008.

--------------------------------
(Millions except per share
amounts)                          2011            2010
------------------------------------------------------------
GAAP net income (loss) /
Earnings (loss) per share      $491   $0.66    $471   $0.64
------------------------------------------------------------
Gross margin benefit due
to deconsolidation of
GLOBALFOUNDRIES                 -       -      69    0.09
------------------------------------------------------------
Deconsolidation gain on
the fair value assessment
of investment in
GLOBALFOUNDRIES                 -       -     325    0.44
------------------------------------------------------------
Equity income (loss) and
dilution gain in
investee, net                 492    0.66   (462)  (0.63)
------------------------------------------------------------
Payment to GLOBALFOUNDRIES    (24)  (0.03)       -       -
------------------------------------------------------------
Impairment of investment
in GLOBALFOUNDRIES          (209)  (0.28)       -       -
------------------------------------------------------------
Non-GAAP net income
excluding GLOBALFOUNDRIES
related items                   232    0.31     539    0.73
------------------------------------------------------------
Amortization of acquired
intangible assets          (29)  (0.04)    (61)  (0.08)
------------------------------------------------------------
Legal settlement             (5)  (0.01)     283    0.39
------------------------------------------------------------
Income tax related to
legal settlement              -       -    (47)  (0.06)
------------------------------------------------------------
Gain on investment sale        -       -      24    0.03
------------------------------------------------------------
Loss on debt repurchase      (6)  (0.01)    (24)  (0.03)
------------------------------------------------------------
Restructuring (charges)
reversals, net             (98)  (0.13)       4    0.01
------------------------------------------------------------
Loss from discontinued
operations*                 (4)  (0.01)       -       -
------------------------------------------------------------
Non-GAAP net income /
Earnings per share             $374   $0.50    $360   $0.49
------------------------------------------------------------
* Loss on discontinued operations consists of charges
related to the sale of our DTV division to Broadcom which
occurred in 2008.

Reconciliation of GAAP to Non-GAAP
Operating Income(1)
----------------------------------------
(Millions)                            Q4-11   Q3-11   Q4-10    2011    2010
----------------------------------------------------------------------------
GAAP operating income                    $71    $138    $413    $368    $848
----------------------------------------------------------------------------
Gross margin benefit due to the
deconsolidation of GLOBALFOUNDRIES        -       -       -       -      69
----------------------------------------------------------------------------
Payment to GLOBALFOUNDRIES                 -       -       -    (24)       -
----------------------------------------------------------------------------
Amortization of acquired intangible
assets                                  (3)     (8)    (11)    (29)    (61)
----------------------------------------------------------------------------
Legal settlement                           -       -     283     (5)     283
----------------------------------------------------------------------------
Restructuring (charges) reversals,
net                                    (98)       -       -    (98)       4
----------------------------------------------------------------------------
Non-GAAP operating income               $172    $146    $141    $524    $553
----------------------------------------------------------------------------

Reconciliation of GAAP to Non-GAAP Gross Margin (1)
----------------------------------------
(Millions except percentages)         Q4-11   Q3-11   Q4-10    2011    2010
----------------------------------------------------------------------------
GAAP Gross Margin                       $773    $756    $743  $2,940  $2,961
----------------------------------------------------------------------------
GAAP Gross Margin %                      46%     45%     45%     45%     46%
----------------------------------------------------------------------------
Gross margin benefit due to the
deconsolidation of GLOBALFOUNDRIES        -       -       -       -      69
----------------------------------------------------------------------------
Payment to GLOBALFOUNDRIES                 -       -       -    (24)       -
----------------------------------------------------------------------------
Legal settlement                           -       -       -     (5)       -
----------------------------------------------------------------------------
Non-GAAP Gross Margin                   $773    $756    $743  $2,969  $2,892
----------------------------------------------------------------------------
Non-GAAP Gross Margin %                  46%     45%     45%     45%     45%
----------------------------------------------------------------------------

About AMDAMD (NYSE: AMD – News) is a semiconductor design innovator leading the next era of vivid digital experiences with its groundbreaking AMD Fusion Accelerated Processing Units (APUs) that power a wide range of computing devices. AMD’s server computing products are focused on driving industry-leading cloud computing and virtualization environments. AMD’s superior graphics technologies are found in a variety of solutions ranging from game consoles, PCs to supercomputers. For more information, visit http://www.amd.com.
Cautionary StatementThis release contains forward-looking statements concerning AMD, its first quarter 2012 revenue, its future growth in key segments and geographies, the momentum of its server business, its ability to deliver sustained success, the timing of future products that incorporate the company’s products, and the company’s restructuring plan implemented in the fourth quarter of 2011, the anticipated operational savings resulting from the restructuring and the company’s plans for reinvesting these savings, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as “would,” “may,” “expects,” “believes,” “plans,” “intends,” “projects,” and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this release are based on current beliefs, assumptions and expectations, speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Risks include the possibility that Intel Corporation’s pricing, marketing and rebating programs, product bundling, standard setting, new product introductions or other activities targeting the company’s business will prevent attainment of the company’s current plans; the company will be unable to develop, launch and ramp new products and technologies in the volumes and mix required by the market and at mature yields on a timely basis; GLOBALFOUNDRIES will be unable to manufacture the company’s products on a timely basis in sufficient quantities and using competitive technologies; the company will be unable to obtain sufficient manufacturing capacity or components to meet demand for its products or will under-utilize its commitment with respect to GLOBALFOUNDRIES’ microprocessor manufacturing facilities; the company will be unable to transition its products to advanced manufacturing process technologies in a timely and effective way; global business and economic conditions will not continue to improve or will worsen resulting in lower than currently expected demand; demand for computers and consumer electronics products and, in turn, demand for the company’s products will be lower than currently expected; customers stop buying the company’s products or materially reduce their demand for its products; the company will require additional funding and may not be able to raise funds on favorable terms or at all; there will be unexpected variations in market growth and demand for the company’s products and technologies in light of the product mix that it may have available at any particular time or a decline in demand; and the company will be unable to maintain the level of investment in research and development that is required to remain competitive. Investors are urged to review in detail the risks and uncertainties in the company’s Securities and Exchange Commission filings, including but not limited to the Quarterly Report on Form 10-Q for the quarter ended October 1, 2011.
AMD, the AMD Arrow logo, AMD Opteron, AMD Radeon, and combinations thereof, are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and used to identify companies and products and may be trademarks of their respective owner.
(1) In this press release, in addition to GAAP financial results, the Company has provided non-GAAP financial measures, including for non-GAAP net income excluding GLOBALFOUNDRIES related items, non-GAAP net income, non-GAAP operating income, non-GAAP earnings per share and non-GAAP gross margin. These non-GAAP financial measures reflect certain adjustments as presented in the tables in this press release. The Company also provided Adjusted EBITDA and non-GAAP Adjusted free cash flow as supplemental measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this press release. The Company is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because the Company believes it assists investors in comparing the Company’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. Refer to corresponding tables at the end of this press release for additional AMD data.
(2) For the year 2010, the Company accounted for its investment in GLOBALFOUNDRIES under the equity method of accounting. Starting in the first quarter of 2011, the Company started accounting for its investment in GLOBALFOUNDRIES under the cost method of accounting.
(3) The highest 2P TPC-C performance score ever was achieved by an AMD Opteron™ processor-powered server. Based on results published by the Transaction Processing Performance Council as of November 15, 2011, an AMD Opteron™ processor-based server achieved the highest TPC-C performance score of any 2P server. 1,207,982 tpmC using 2 x AMD Opteron™ processors Model 6282 SE in HP ProLiant DL385 G7 server, 512GB memory, Microsoft® Windows Server® 2008 R2 Enterprise x64 Edition, Microsoft® SQL Server® 2005 Enterprise x64 Edition SP3. http://www.tpc.org/results/individual_results/HP/HP_ProLiant_DL385G7_TPCC_111114_01_es.pdf. For the latest TPC-C results, visit www.tpc.org. TPC Benchmark and TPC-C are trademarks of the Transaction Processing Performance Council. SVR-105
(4) As of December 22, 2011, the AMD Radeon™ HD 7970 scores in excess of X2700 in 3DMark® 11, the highest single-GPU graphics card score achieved on a stock platform to date.
(5) The AMD Radeon™ HD 7970 Series GPU offers more than 1.54X times the compute power/mm2 when compared to the AMD Radeon™ HD 6970 Series GPU: the AMD Radeon™ HD 6970 Series GPU has been calculated at 2.703 TFLOPs of compute power with a measured die size of 389mm2, while the AMD Radeon™ HD 7970 Series GPU has been calculated at 3.789 TFLOPs of compute power with a die size of 352mm2.

ADVANCED MICRO DEVICES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages)

Quarter Ended                Year Ended
-------------------------------  --------------------
Dec. 31,   Oct. 1,    Dec. 25,   Dec. 31,   Dec. 25,
2011       2011       2010       2011       2010

---------  ---------  ---------  ---------  ---------

Net revenue           $   1,691  $   1,690  $   1,649  $   6,568  $   6,494

Cost of sales               918        934        906      3,628      3,533

---------  ---------  ---------  ---------  ---------

Gross margin                773        756        743      2,940      2,961

Gross margin %               46%        45%        45%        45%        46%

Research and
development                358        361        352      1,453      1,405

Marketing, general
and administrative         243        249        250        992        934

Legal settlement              -          -       (283)         -       (283)

Amortization of
acquired intangible
assets                       3          8         11         29         61

Restructuring charges
(reversals), net            98          -          -         98         (4)

---------  ---------  ---------  ---------  ---------

Operating income             71        138        413        368        848

Interest income               2          3          2         10         11
Interest expense            (43)       (42)       (39)      (180)      (199)
Other income
(expense), net            (207)        (7)        14       (199)       311

---------  ---------  ---------  ---------  ---------

Income before equity
income (loss) and
dilution gain in
investee and income
taxes                     (177)        92        390         (1)       971

Provision (benefit)
for income taxes            (4)        (5)        42         (4)        38

Equity income (loss)
and dilution gain in
investee, net                -          -         27        492       (462)

---------  ---------  ---------  ---------  ---------

Income (loss) from
continuing
operations           $    (173) $      97  $     375  $     495  $     471

Loss from
discontinued
operations, net of
tax                         (4)         -          -         (4)         -

---------  ---------  ---------  ---------  ---------

Net income (loss)     $    (177) $      97  $     375  $     491  $     471

---------  ---------  ---------  ---------  ---------

Net income (loss) per
share
Basic
Continuing
operations       $   (0.24) $    0.13  $    0.52  $    0.68  $    0.66
Discontinued
operations           (0.01)         -          -      (0.01)         -
---------  ---------  ---------  ---------  ---------
Basic net income
(loss) per share   $   (0.24) $    0.13  $    0.52  $    0.68  $    0.66

Diluted
Continuing
operations       $   (0.24) $    0.13  $    0.50  $    0.67  $    0.64
Discontinued
operations           (0.01)         -          -      (0.01)         -
---------  ---------  ---------  ---------  ---------
Diluted net income
(loss) per share   $   (0.24) $    0.13  $    0.50  $    0.66  $    0.64

---------  ---------  ---------  ---------  ---------

Shares used in per
share calculation

Basic                     732        729        717        727        711

Diluted                   732        741        758        742        733

ADVANCED MICRO DEVICES, INC.
CONSOLIDATED BALANCE SHEETS
(Millions)

---------  ---------  ---------
Dec. 31,   Oct. 1,    Dec. 25,
2011       2011       2010
---------  ---------  ---------

Assets

Current assets:
Cash, cash equivalents and marketable
securities                               $   1,765  $   1,807  $   1,789
Accounts receivable, net                        919        908        968
Inventories, net                                476        540        632
Prepaid expenses and other current assets        69        157        205

---------  ---------  ---------

Total current assets                      3,229      3,412      3,594

Long-term marketable securities                   149         50          -
Property, plant and equipment, net                726        697        700
Investment in GLOBALFOUNDRIES                     278        486          -
Goodwill                                          323        323        323
Other assets                                      249        268        347

---------  ---------  ---------

Total Assets                                $   4,954  $   5,236  $   4,964
=========  =========  =========

Liabilities and Stockholders' Equity

Current liabilities:
Accounts payable                          $     363  $     467  $     376
Accounts payable to GLOBALFOUNDRIES             177        151        205
Accrued liabilities                             550        590        698
Deferred income on shipments to
distributors                                   123        131        143
Other short-term obligations                      -          -        229
Current portion of long-term debt and
capital lease obligations                      489        489          4
Other current liabilities                        72         27         19

---------  ---------  ---------

Total current liabilities                 1,774      1,855      1,674

Long-term debt and capital lease
obligations, less current portion              1,527      1,571      2,188
Other long-term liabilities                        63         66         89

Stockholders' equity:
Capital stock:
Common stock, par value                         7          7          7
Additional paid-in capital                  6,672      6,652      6,575
Treasury stock, at cost                      (107)      (107)      (102)
Accumulated deficit                          (4,977)    (4,800)    (5,468)
Accumulated other comprehensive income
(loss)                                          (5)        (8)         1
---------  ---------  ---------

Total stockholders' equity                1,590      1,744      1,013

---------  ---------  ---------

Total Liabilities and Stockholders' Equity  $   4,954  $   5,236  $   4,964
=========  =========  =========

ADVANCED MICRO DEVICES, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
(Millions)
Quarter
Ended      Year Ended
-----------  -----------
Dec. 31,     Dec. 31
2011         2011
-----------  -----------
Cash flows from operating activities:
Net income (loss)                                $      (177) $       491
Adjustments to reconcile net income to net cash
provided by operating activities:
Equity in net (gain) loss of investee                    -         (492)
Impairment charge of GF investment                     209          209
Depreciation and amortization                           70          317
Compensation recognized under employee stock
plans                                                  21           90
Non-cash interest expense                                5           21
Net gain on sale of marketable securities               (1)          (4)
Other                                                   (5)           2
Changes in operating assets and liabilities:
Accounts receivable                                    (10)        (347)
Inventories                                             65          157
Prepaid expenses and other current assets               73          115
Other assets                                             2           (1)
Accounts payable to GLOBALFOUNDRIES                     26          (28)
Accounts payable, accrued liabilities and
other                                                 (91)        (148)
-----------  -----------
Net cash provided by operating activities          $       187  $       382
-----------  -----------

Cash flows from investing activities:
Purchases of property, plant and equipment               (87)        (250)
Proceeds from sale of property, plant, and
equipment                                                 -           16
Purchases of available-for-sale securities              (125)      (1,586)
Proceeds from sale and maturity of available-
for-sale securities                                     311        1,726
Other                                                     (2)         (19)
-----------  -----------
Net cash provided by (used in) investing
activities                                        $        97  $      (113)
-----------  -----------

Cash flows from financing activities:
Proceeds from borrowings, net of issuance cost             -          170
Net proceeds from foreign grants                          10           20
Proceeds from issuance of AMD common stock                 1           18
Repayments of debt and capital lease obligations         (51)        (209)
Other                                                      -           (5)
-----------  -----------
Net cash used in financing activities              $       (40) $        (6)
-----------  -----------
Net increase in cash and cash equivalents                  244          263
-----------  -----------
Cash and cash equivalents at beginning of period   $       625  $       606
-----------  -----------
Cash and cash equivalents at end of period         $       869  $       869
-----------  -----------

ADVANCED MICRO DEVICES, INC.
SELECTED CORPORATE DATA
(Millions except headcount)

Quarter Ended               Year Ended
------------------------------------------------------- --------------------
Dec. 31,   Oct. 2,    Dec. 25,  Dec. 31,   Dec. 25,
Segment and Category
Information               2011       2011       2010      2011       2010

-------------------------------- --------------------

Computing Solutions (1)
Net revenue           $   1,309  $   1,286  $   1,219 $   5,002  $   4,817
Operating income      $     165  $     149  $      91 $     556  $     529

Graphics (2)
Net revenue                 382        403        424     1,565      1,663
Operating income             27         12         68        51        149

All Other (3)
Net revenue                   -          1          6         1         14
Operating income
(loss)                    (121)       (23)       254      (239)       170

Total
Net revenue           $   1,691  $   1,690  $   1,649 $   6,568  $   6,494
Operating income      $      71  $     138  $     413 $     368  $     848

------------------------------------------------------- --------------------

Other Data

Depreciation and
amortization
(excluding
amortization of
acquired intangible
assets)              $      67  $      71  $      78 $     288  $     322
Capital additions     $      87  $      58  $      38 $     250  $     148
Adjusted EBITDA (4)   $     260  $     239  $     241 $     902  $   1,031
Cash, cash
equivalents and
marketable
securities (5)       $   1,914  $   1,857  $   1,789 $   1,914  $   1,789
Adjusted free cash
flow (6)             $     100  $     131  $      11 $     528  $     355
Total assets          $   4,954  $   5,236  $   4,964 $   4,954  $   4,964
Long-term debt and
capital lease
obligations,
including current
portion              $   2,016  $   2,060  $   2,192 $   2,016  $   2,192
Headcount                11,093     12,019     11,068    11,093     11,068

------------------------------------------------------- --------------------

See footnotes below

(1) Computing Solutions segment includes microprocessors, chipsets and
embedded processors.

(2) Graphics segment includes graphics, video and multimedia products
developed for use in desktop and notebook computers, including home
media PCs, professional workstations and servers and also includes
revenue received in connection with the development and sale of game
console systems that incorporate the Company's graphics technology.

(3) All Other category includes certain operating expenses and credits that
are not allocated to the operating segments. Also included in this
category are amortization of acquired intangible assets and
restructuring charges. It also includes the results of the Handheld
business unit because the operating results of this business unit were
not material.

(4) AMD reconciliation of GAAP operating income to Adjusted EBITDA*

Quarter Ended               Year Ended
------------------------------ --------------------
Dec. 31,  Oct. 1,   Dec. 25,   Dec. 31,  Dec. 25,
2011      2011      2010       2011      2010
------------------------------ --------------------
GAAP operating income    $      71 $     138 $     413  $     368 $     848
Payments to
GLOBALFOUNDRIES               -         -         -         24         -
Legal settlement               -         -      (283)         5      (283)
Depreciation and
amortization                 67        71        78        288       322
Employee stock-based
compensation expense         21        22        22         90        87
Amortization of
acquired intangible
assets                        3         8        11         29        61
Restructuring charges
(reversals), net             98         -         -         98        (4)
------------------------------ --------------------
Adjusted EBITDA          $     260 $     239 $     241  $     902 $   1,031
============================== ====================

(5) Cash, cash equivalents and marketable securities also include the long-
term portion of marketable securities.

(6) Non-GAAP adjusted free cash flow reconciliation**

Quarter Ended                Year Ended
-------------------------------- ---------------------
Dec. 31,   Oct. 1,    Dec. 25,   Dec. 31,   Dec. 25,
2011       2011       2010       2011       2010
-------------------------------- ---------------------
GAAP net cash
provided by (used
in) operating
activities           $     187  $     189  $    (213) $     382  $    (412)
Non-GAAP adjustment         -          -        262        396        915
-------------------------------- ---------------------
Non-GAAP net cash
provided by
operating activities       187        189         49        778        503
Purchases of
property, plant
and equipment            (87)       (58)       (38)      (250)      (148)
-------------------------------- ---------------------
Non-GAAP adjusted
free cash flow       $     100  $     131  $      11  $     528  $     355
================================ =====================

* The Company presents "Adjusted EBITDA" as a supplemental measure of its
performance. Adjusted EBITDA for the Company is determined by adjusting
operating income for depreciation and amortization, employee stock-based
compensation expense and amortization of acquired intangible assets. In
addition, for the fourth quarter of 2011 and fiscal 2011, the Company
included an adjustment for restructuring charges and reversals, net; for the
fourth quarter of 2010 and fiscal 2010, the Company also included an
adjustment related to its legal settlement with Samsung; and for fiscal
2011, the Company included an adjustment related to a payment to GF. The
Company calculates and communicates Adjusted EBITDA in the financial
schedules because the Company's management believes it is of importance to
investors and lenders in relation to its overall capital structure and its
ability to borrow additional funds. In addition, the Company presents
Adjusted EBITDA because it believes this measure assists investors in
comparing its performance across reporting periods on a consistent basis by
excluding items that the Company does not believe are indicative of its core
operating performance. The Company's calculation of Adjusted EBITDA may or
may not be consistent with the calculation of this measure by other
companies in the same industry. Investors should not view Adjusted EBITDA as
an alternative to the GAAP operating measure of operating income (loss) or
GAAP liquidity measures of cash flows from operating, investing and
financing activities. In addition, Adjusted EBITDA does not take into
account changes in certain assets and liabilities as well as interest and
income taxes that can affect cash flows.

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KL property investment ranking slips in new survey

By Yow Hong Chieh KUALA LUMPUR, Dec 7 — Kuala Lumpur’s property outlook will continue to slide in 2012 while Singapore remains the most attractive Asia Pacific city for real estate investors, according to an Urban Land Institute (ULI) report.
Kuala Lumpur’s investment prospects slipped one spot to 16th out of 21 Asian cities tracked going into next year while development prospects dropped three places, also to 16th, the “Emerging Trends in Real Estate Asia Pacific 2012” outlook released yesterday said.
Singapore topped the list despite a less positive environment and falling yields this year, and was the only city besides Shanghai considered to have “generally good” development prospects.
Buying sentiment was stronger in Kuala Lumpur for retail and industrial property than in Singapore while the reverse was true for office, apartment and hotel property.
The largest group of experts polled for the report recommended a hold on all property sectors in Kuala Lumpur next year, while a “sizable minority” backed acquisitions in all areas.
“Construction financing (for Kuala Lumpur) might remain more limited as global economic concerned continue to linger,” the report added.
“However, government plans are in place to improve infrastructure over the coming years — always a boost for commercial real estate.”
It also said that despite recent declines investors still saw Malaysia’s capital as “an emerging city of interest”, noting that properties in the city were valued at one-fifth that of comparable properties in Singapore.
Investors also predicted bullish growth in Malaysia, with the report predicting that national GDP growth would remain at five per cent or above through to 2015.
The report was compiled by Washington-based ULI with PricewaterhouseCoopers International from interviews with 360 property experts, including investors, developers, asset managers, fund managers, brokers and architects.
Only three cities — Bangkok, Manila and Osaka — saw their investment ratings rise this year while Taipei, Bangkok, Sydney and Jakarta achieved the largest gains in investment rank.
Chinese cities dominated the investment prospect rankings, with Shanghai, Chongqing and Beijing placing second, fourth and fifth respectively; Guangzhou was the lowest ranked Chinese city at sixth spot.

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