AMD profits disappear in a Flash

After dropping a bombshell on investors last Monday that its fourth quarter of 2004 would be a disappointment, AMD formally announced the numbers today. AMD lost $30m on sales of $1.26bn in the final quarter of the year (and AMD's fiscal year). Despite processor sales rising 26 per cent over the corresponding period in the previous year, AMD's CEO, Hector Ruiz, said the Flash memory business, on which AMD relies for almost half of its earnings, was "freaking dismal".

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News source: The Reg

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