Advanced Micro Devices Posts a Loss, but Sales Gain
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A.M.D. reported a net loss of $396 million, larger than Wall Street expected, but sales were up 23 percent on strong personal-computer demand.
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Agere Systems Inc., which makes computer chips and software for cell phones and other devices, Tuesday said it fell to a loss for its latest quarter, hurt by charges for its restructuring plan and declining revenue.
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(InfoWorld) - As price competition takes its toll, AMD Thursday posted its third consecutive quarterly loss, saying that although revenue was relatively solid, it suffered a sharp second-quarter drop in income. Revenue for the quarter was $1.38 billion, an improvement from $1.22 billion a year earlier. But the company reported a net loss of $600 million, or a loss of $1.09 per share, a big drop from net income of $89 million, or $0.18 per share, a year earlier. A big part of the loss was due to restructuring costs and a $130 million, or $0.24 per share, charge related toÂ the acquisition of graphics-chip maker ATI last year. One piece of good news was that in the face of stiff price competition from Intel, AMD said its second quarter gross margin was 34 percent, excluding one-time charges, an improvement over its 31 percent margin in the first quarter of 2007. "We achieved a 12 percent sequential revenue increase, improved the gross margin, and won back microprocessor unit and revenue market share," said Robert J. Rivet, AMD's CFO, in a statement accompanying the company results. Looking ahead, AMD forecast that third-quarter revenue would increase in line with traditional seasonal growth rates. Though that does not point to a big increase in profit in the near future, traders reacted positively to the upbeat news on revenue and margins, driving up company shares by $0.32 to $15.78 in after-hours trading. Nevertheless, the second-quarter gross margin, for example, was still a far cry from AMD's 57 percent gross margin in the second quarter of 2006. Rivet acknowledged that to instill confidence in the company, "we must improve our financial results." AMD faces an uphill battle. After gaining ground, in terms of market share and technology, on Intel two years ago by coming out with dual-core processors, AMD suffered last year as Intel battled back with its own line of multicore chips. In the longer term, AMD is pinning its hopes to a great degree on its "Barcelona" quad-core Opteron server chip, due out in August. That chip will compete with Intel's dual-core "Woodcrest" and quad-core "Clovertown" Xeon processors launched last year. AMD also needs to stay on track and hit its 2009 goal to bring its new Fusion chip -- made with ATI technology -- to market.
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Advanced Micro Devices Inc. warned Monday that it was unlikely to meet its first-quarter revenue guidance of $1.6 billion to $1.7 billion, the latest in a series of disappointments for investors in the struggling chip-maker. The company's stock fell to a new 52-week low on the news.
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Stocks to watch on Tuesday: ADVANCED MICRO DEVICES INC. , INTEL CORP. :
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Advanced Micro Devices Inc. (AMD) saw its short streak of quarterly profits come to an end, as sales growth slowed in the fourth quarter due to competitive pricing for its flash memory products, the company said Tuesday.
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Advanced Micro Devices Inc. on Thursday reported lower revenues than in the previous quarter, although profits climbed on increased 64-bit sales into the server market.
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Advanced Micro Devices Inc.  AMD.N on Thursday reported a $44 million third-quarter profit  from a loss a year earlier, and predicted sales growth in the  current quarter because of better-than-expected demand for its  personal computers processors.
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The traditional third-quarter bump is light for the chipmaker, as lower-than-expected PC sales offset flash memory gains.
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As the price war with Intel continued to take its toll, shares of Advanced Micro Devices fell 23 cents, or 1.6 percent.
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Advanced Micro Devices Inc  , the world's second-largest maker of computer  microprocessors, on Thursday posted a wider quarterly net loss  due to a $1.68 billion charge related to its purchase of  graphics chipmaker ATI.
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The chip maker reported a larger-than-expected loss but showed progress in curbing its expenses and capturing a share of strong demand for personal computers.
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U.S. stocks fell on Tuesday, pressured  by a sales warning from chip maker Advanced Micro Devices Inc.  AMD.N and lower-than-expected earnings from aluminum producer  Alcoa Inc. AA.N
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Advanced Micro Devices  (AMD), the world's second-largest maker of computer microprocessors, posted a wider quarterly loss on Thursday due to a $1.68 billion charge from its purchase of graphics chipmaker ATI.
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Advanced Micro Devices Inc.  gave a strong 2007 outlook for gross margins on Thursday and said its microprocessor sales would grow twice as fast as the industry average of 10 percent due to market share gains.
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Advanced Micro Devices Inc. , the No. 2 microprocessor maker, warned on Monday that it will likely miss its quarterly revenue target as it loses market share among computer resellers, a traditional bulwark of its business.
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Shares of chip maker Advanced Micro Devices Inc. plummeted more than 20 percent in Tuesday trading after the company warned that its fourth-quarter operating income will be "down significantly" from the third quarter.