AMD back profitable in Q3 2008 - Ruiz gives himself a raise

Posted on Friday, Dec 14 2007 @ 20:54 CET by Thomas De Maesschalck
AMD's CEO Hector Ruiz claims the company should be in the green again in Q3 2008:
AMD faced critical analysts once again at its December analyst meeting, but chief executive officer Hector Ruiz sees the company on a road of continued recovery, which he believes will result in a return to profitability in the third quarter of 2008. However, the company appeared to be unsure whether it can deliver on a previous statement that it may be able break even in the current quarter.

No matter where you look at, AMD appears to be walking on thin ice. Despite a consistent message given at today’s analyst day that the worst is behind the company, analysts grilled AMD executives with questions that were looking for some guidance when the manufacturer will be able to post a profit again.
In other news, Ruiz is feeling lucky as he just gave himself a raise:
After spending most of Thursday apologizing to financial analysts for AMD's performance in 2007, the company revealed in a filing with the Securities and Exchange Commission that Ruiz's compensation agreement was amended on Wednesday with his new salary: $1,124,000. Earlier this year, AMD said Ruiz made $1,046,358 in base salary (click for PDF) during 2006, with a total compensation package for the year of $12,848,435.


About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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