Advanced Micro Devices Posts Loss
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Chip maker Advanced Micro Devices  Inc. AMD.N on Tuesday reported a quarterly loss after a  year-earlier profit, weighed by weaker memory chip sales and a  charge related to debt.
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BusinessWeek Online - For 35 years, Advanced Micro Devices Inc.  stood in the shadow of archrival Intel Corp.  AMD churned out lower-priced clones of the tech leader's chips and occasionally enjoyed a hit that helped boost its meager profits. But bad times easily outweighed the good. Again and again, Intel used its manufacturing muscle and pricing power to stymie AMD's ambitions, preventing it from gaining a foothold in lucrative markets such as servers and corporate PCs.
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Advanced Micro Devices reported its fifth consecutive quarterly loss as it struggled to absorb the huge cost of its purchase of ATI Technologies, a graphics chip maker.
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The chipmaker Advanced Micro Devices posted its third consecutive quarterly loss after cutting prices to compete with Intel.
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NEW YORK/SAN FRANCISCO  - Advanced Micro Devices Inc  has delayed shipments of a key, high-end microprocessor until the first quarter of next year and does not expect to break even until the second quarter, the chipmaker said on Thursday.
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(InfoWorld) - Advanced Micro Devices' move to cut overhead costs by outsourcing its chip manufacturing business may backfire in the long run, according to several analysts who have downgraded the company's stock. AMD is struggling it keep its head above water after posting losses of $611 million and $574 million for its past two quarters. The company has also drawn criticism for its manufacturing, with recent reports that it will delay the full-volume launch of the "Barcelona" quad-core Opteron server chip from July to October. That would hobble AMD in its effort to compete with surging rival Intel. Although AMD's Opteron has won over many users of Intel's Xeon server chips since its launch in 2003, that trend is now in a sharp reversal, according to a June 13 report from Jon Peddie Research. In the market for workstation processors, AMD had pushed Intel's share down to 87.6 percent in the first quarter of 2006, but Intel has rebounded since then, reaching 92 percent share in the first quarter of 2007. The building pressure recently prompted some analysts to predict that AMD might stop manufacturing any chips at all and convert to a fully outsourced business model as soon as 2008. AMD said that rumor had come from a "speculative" Goldman Sachs report, but confirmed that the company is trying to focus its efforts on developing chips instead of manufacturing them, according to AMD spokesman Drew Prarie. AMD currently has a deal giving it access to IBM's chip fabrication plant in East Fishkill, New York. Under that arrangement, AMD can perform much of its research and development without having to incur the cost of owning its own manufacturing plant, he said. "We're looking to find ways to extend that model beyond research and development to the full range of the manufacturing supply chain," Prarie said Monday. "That could run the range from increasing the amount of processors we send out for chartered manufacturing, and could also include things like establishing partnerships on the manufacturing side." AMD has already taken some steps in this direction. In 2006, AMD announced a plan to give Chartered Semiconductor Manufacturing a heavier load, asking the firm to begin making the new 65-nanometer scale Athlon chips and other processors. And in May, AMD announced that it hadÂ awarded the job of manufacturing its newest graphics chips to Taiwan Semiconductor Manufacturing Company (TSMC). Now the company may be preparing to expand that model, according to a June 17 report from Citigroup analyst Glen Yeung. AMD is on the verge of making a "transformational move" such as outsourcing a larger share of low-end processors to TSMC, selling a share of the manufacturing capacity in its Fab 30 chip-making plant in Dresden, Germany, or even selling a share in its planned $3.2 billion chip plant in Saratoga County, New York, Yeung wrote. Despite AMD's insistence that such an arrangement would simply allow it to stay in the chip business while cutting costs, the uncertainty makes Wall Street analysts nervous. The Citigroup report lowered its estimate of AMD's future revenue from $1.3 billion to $1.1 billion for the second quarter, and from $5.8 billion to $5.6 billion for the full year of 2007. Those figures would represent a flat performance compared to AMD's performance last year, with $1.22 billion of revenue in the second quarter of 2006 and $5.6 billion for the full year. "We are again lowering AMD estimates, this time for 2Q07 (we had previously lowered 2H07), reflecting our field checks suggesting current conditions are weak," Yeung wrote. While Citigroup recognizes that AMD could be moving away from its own manufacturing and that could help the company cut costs, "we remain on hold for the shares given near-term weakness," he wrote. In contrast, Yeung said Intel would continue to enjoy a competitive advantage thanks to theÂ potential delay of AMD's Barcelona chips, the rising popularity of Intel's new Santa Rosa notebook platform, and the continued sales of Core-family chips for desktop PCs.
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AT&T Corp. on Thursday reported a net loss of $7.1 billion, or $8.95 per share, for the third quarter of 2004, but that loss included asset re-evaluation and other charges of $12.5 billion.
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Credit Suisse First Boston lowered estimates for Analog Devices (nyse: ADI - news - people ) after the maker of integrated circuits provided disappointing guidance.
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Citing continued weakness in the semiconductor test equipment industry, LTX Corp. widened its fiscal second-quarter loss estimate and lowered its revenue guidance. The Westwood company said it now expects to report a second-quarter loss of 31 to 33 cents a share, excluding charges, greater than a loss of 26 to 28 cents that it projected in November. The supplier of ...
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The medical device maker reported a third-quarter loss of $272 million on charges related to acquisitions and asset sales, as the companyâs top-selling stent continued to slump.
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Corrects company name to Advanced Micro Devices in first paragraph
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SEMICONDUCTOR maker Advanced Micro Devices has warned its quarterly revenue will be lower than forecast, citing softness in sales of its memory chips used in cell phones and other devices.
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Advanced Micro Devices said that it lost $600 million or $1.09 per share, for the three months ended June 30.
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Advanced Micro Devices Inc. (AMD.N: Quote, Profile, Research) captured nearly 10 percent of computer microchip market revenue in the third quarter, the highest level
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SAN FRANCISCO - Advanced Micro Devices Inc. reported a third-quarter profit from a loss a year-earlier on today, but sales fell from the second quarter in line with the chip maker&#39;s recently reduced outlook.
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STMicroelectronics NV  reported a quarterly loss compared with a year ago profit on Tuesday, citing about $906 million in impairment and restructuring charges.
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Advanced Micro Devices Inc.'s losses were deeper than analysts feared in the third quarter, but the slumping chip maker said stronger sales of microprocessors and improving cost controls are now helping lift the company out of its financial doldrums.