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AMD posts Q1 number slump

Industry says the loss of $416-million isn't as bad as it had been projected earlier

Friday, April 24, 2009

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BANGALORE, INDIA: A slump in demand as well as prices for its microprocessors coupled with huge revamp costs have pushed down Advanced Micro Devices Inc's first-quarter numbers to negative territory.

According to the company, the overall loss has widened pushing down stock prices as well. However, the industry is of the opinion that AMD's loss of $416-million, or 66 cents per share, wasn't as bad as it had been projected earlier.

Sales clocked a drop of 21 per cent to $1.18-billion, which was, in fact, higher than estimates of $978-million. It is being estimated by industry observers that without one-time charges, the loss would have been 62 cents per share.

The company had during the same period last year, shed $364-million, or 60 cents per share. The company, in the meanwhile, has forecast lower second-quarter sales. It may be recalled that AMD had been reeling under heavy charges for the biggest corporate overhaul, which it undertook for the first time in its 40-year history.

The chip maker had spun off its manufacturing arm with the help of the Abu Dhabi government. Though the rejig was aimed at saving money, it proved otherwise, or so it seems.

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