Friday, January 17, 2003
Advanced Micro Devices continued its staggering losses, posting a net loss of $854.7 million for its Q4, which ended Dec 2002.
The company has been in a marked profit decline for over a year now, after posting a net loss of $15.8 million, or 5 cents per share, for Q4 2001 and then a net loss of $254.2 million in Q3 2002.
Excluding the effects of restructuring and other charges to show the company’s results from ongoing operations, the fourth quarter net loss was $235.1 million, or 68 cents per share.
The company’s revenue fared better, increasing 35 percent sequentially, from Q3’s $508.2 million to $686.4 million in Q4. However, this was still 28 percent below Q4 2001’s revenue of $951.9 million.
AMD said its cost reduction efforts would begin to be reflected in its earnings in Q1, with the company remaining on target to reduce its overall cost structure to below $800 million per quarter by Q2.
AMD was also bullish about its PC processor sales. Rather than expecting the traditional Q1 seasonal decline of 5 percent to 8 percent, AMD expects its processor revenue to increase, and in aggregate the company sales will be flat to nominally up.
An increase would be due to a richer product mix, Q4 saw a slate of new Athlon XP processors and record unit sales into the mobile space. In February AMD is scheduled to introduce an Athlon XP processor for desktops based on its Barton core. In April, AMD will introduce its Opteron processors for servers and workstations. AMD also aligned PC processor inventory in the supply chain, which it said resulted in record unit consumption of AMD PC processors.
AMD said it has completed the transition of all its PC processor wafer production to 130nm technology. It now plans complete the qualification of its 90nm technology, with production scheduled to begin in Q4.
By: DocMemory
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