AMD posts $590 million loss, still confident
updated 06:35 pm EDT, Thu April 19, 2012
Semiconductor maker optimistic despite big loss
AMD today announced revenues for the first quarter of 2012, and the semiconductor maker posted a sizable net loss. Despite a net loss of $590 million dollars, AMD representatives expressed optimism about the company's future performance.
For the quarter, AMD posted revenues of $1.59 billion. Income for the company's Computing Solutions segment was flat year-over-year, but fell eight percent from the previous quarter. AMD's Graphics segment, which handles its Radeon hardware, saw revenues that were flat sequentially but down seven percent year-over year.
Despite the quarterly loss, AMD president and CEO Rory Read touted the company's focus on execution and innovation as cause for optimism, citing forthcoming new APU (Fusion chip_ offerings and ample product supply due to improved relationships with manufacturing partners as key motivators in the future. AMD's Trinity-series chips promise improved gaming performance and battery life and are expected to reach 20 ultrabook units by years end. AMD also cited partnerships with Dell, Tyan, MSI, and Canadian telecom Telus as bright points in its report.
In November of last year, AMD said it was cutting 10 percent of its workforce in order to recoup $128 million from Fall 2011 through 2012. AMD still trails its chief rival Intel, though its roadmap for 2012 and 2013 lays out an aggressive strategy to get its low-power use processors into an array of ultrathin notebooks, tablets, all-in-ones, desktops, and servers.
