超威半导体公司Advanced Micro Devices, Inc. (AMD) 2013年年度报告「NASDAQ」.pdf

1、2013 ANNUAL REPORT ON FORM 10-KDear Stockholders:In 2013,we made significant progress in bringing AMD closer to our mission ofbecoming the world s leading designer and integrator of innovative,tailored technologysolutions that empower people to push the boundaries of what is possible.Throughoutthe y

2、ear,we achieved many goals the Company set going into 2013 despite broaderPC industry challenges.Transformation and Progress:Profitability and Acceleration of Our BusinessOur strategic three-phase plan to transform AMD began with resetting andrestructuring our business to lay the foundation for the

3、acceleration of our growth.Bythe end of 2013,we successfully implemented phase one and phase two of ourturnaround plan to create a more efficient and sustainable business model in thefollowing ways:Reducing our operating expenses more than 30 percent from the first quarter of 2012 to the fourth quar

4、ter of2013.Generating more than 30 percent of our net revenues in the second half of 2013 from our semi-custom andembedded businesses,both high-growth focus areas for AMD.Exiting the year with cash balances,including marketable securities,of$1.2 billion,above our optimal cashbalance target of$1.1 bi

5、llion,and establishing an incremental secured revolving line of credit up to$500 million.Returning to profitability and free cash flow in the second half of the year.I m very pleased to report that AMD has also made steady progress on phase three of our plan:to transform ourbusiness into a high-grow

6、th market competitor.Our business transformation is being propelled by an increasinglydiversified product portfolio and a focus on driving to 50 percent of AMD revenue from five high-growth markets by theend of 2015:semi-custom solutions,ultra-low power client PC,embedded,dense server,and profession