AMD Posts Loss After Write-Downs – Expects More Decline This Quarter
Advanced Micro Devices (AMD) recently announced revenue for the fourth quarter of 2011 of $1.69 billion, net loss of $177 million, or $0.24 per share, and operating income of $71 million. The shows little growth in the fourth quarter and swung to a net loss, reflecting write-downs tied to a former manufacturing unit and problems that included supply shortages on some chips. To make matters worse AMD expects revenue to decrease eight percent, plus or minus three percent, sequentially for the first quarter of 2012.
AMD shipped more than 30 million APUs in 2011, resulting in record annual notebook revenue, said Rory Read, AMD president and CEO. The unmatched combination of computing and graphics capabilities in our low-power Brazos platform has made it our fastest ramping platform ever, paving the way for continued growth in key segments and geographies. Our server business has re-gained momentum, delivering two consecutive quarters of strong sequential growth. We continued optimizing our financial model in 2011, consistently delivering operating income and creating the foundation for sustained success. We begin 2012 clear on our priorities and opportunities. We are building an AMD that consistently delivers on its commitments.
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