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AMD Loses $854 million in 4th quarter

Thats alot of money to loose...

Advanced Micro Devices reported a bigger-than-expected loss for the fourth quarter, including a major restructuring charge for layoffs, consolidating facilities and writing off assets, as the chip maker struggles to return to profitability. The Sunnyvale company, Intel's biggest competitor in PC processors, said sales dropped 28 percent to $686.4 million from $951.9 million in the year-ago period. Including one-time charges totaling $620 million, AMD reported a net loss of $854.7 million, or $2.49 a share.

Without the charges, AMD reported an operating loss of $235.1 million, or 68 cents a share, which was much wider than most analysts had been expecting. According to Thomson First Call, the consensus on Wall Street was for a loss of 42 cents a share. "2002 was an awful year,'' AMD President and Chief Executive Hector Ruiz told analysts on a conference call.

News source: Techfocus.org

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