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Analysts expect big losses from AMD

Posted on Saturday, January 12 2008 @ 20:50:10 CET by

Wall Street analysts made some predictions of AMD's fourth quarter financial results which will be announced next week:
Analysts expect AMD (AMD) to report a loss of 36 cents on revenue of $1.79 billion, compared with a loss of 4 cents, on revenue of 1.77 billion in the year-ago period, according to Thomson Financial.

The Sunnyvale, Calif.-based company has been struggling to become profitable over the past year as it faced stiffer competition from archrival Intel Corp. ( INTC) and grappled with the cost of a major acquisition.

AMD reported a wider-than-expected third-quarter loss of $396 million in October, largely due to a $120 million charge for its merger with ATI Technologies in 2006. The company has also struggled with product roll-out delays and mounting operating costs that some analysts warned were not sustainable.

"We are lowering our estimates to reflect continued execution missteps, an increase in operating expenses due to engineering costs and continued pressure from Intel's roadmap," analyst Doug Freedman of American Technology Research said in a research note.
AMD CEO Hector Ruiz claims his company will be back in the black this year.



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