AMD posted net income of $1.18 billion, or $1.68 per share, for the quarter ended Dec. 26, 2009, compared with net loss of $128 million in the comparable period of 2008.

"AMD's quarter marks another milestone in our transformation and underscores our growing momentum," said Dirk Meyer, president and CEO, in a statement. "We enter 2010 having completed the transition to a fabless business model, reached a historic antitrust settlement, and made significant progress strengthening our balance sheet."

For the full year, AMD's gross profit margin rose to 42 percent from 40 percent in 2008 while revenue declined to $5.4 billion from $5.8 billion.

The company closed the fourth quarter with cash and short-term securities of $2.7 billion compared with $1.1 billion in the final quarter of 2008 and giving it one of its strongest liquid positions in recent quarters.

By: DocMemory
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