Paul,
Re: "Re: " Amd to Cut 300 Jobs Over Next 2 Qtrs, Sees Charges in Current
Qtr"
Here's a little more on the subject -->
cbs.marketwatch.com
"AMD warns of 'significant' loss
Shortfall in K6 chip shipments is blamed
By Brenon Daly, CBS MarketWatch
Last Update: 5:25 PM ET Mar 8, 1999
SUNNYVALE, Calif. (CBS.MW) -- Advanced Micro Devices said after the market closed Monday that lower-than-expected shipments of its flagship
chip will result in a "significant" loss for the fiscal first quarter.
Atiq Raza, chief technology officer at AMD, said the company will ship
about 5 million AMD-K6 chips. That's lower than the target of 5.5 million
chips the company had previously set.
In a press release, the company said only that it expects to record a
"significant" loss. Analysts surveyed by First Call expected AMD to lose
9 cents per share in the fiscal first quarter.
Separately, AMD said it will cut about 300 jobs over the next two quarters.
An undisclosed charge is planned for the current quarter.
Ahead of the warning, AMD stock added 1/2 to 18 15/16.
AMD shares have lost about half their value since the beginning of the
year ("Ol Hutch Effect"). In mid-January, the chip-maker reported
fourth-quarter earnings of 15 cents per share, 4 cents below analysts'
expectations.
However, AMD got a boost about two weeks ago after a report from PC
Data Inc. said AMD held 44 percent of the retail desktop PC processor market
in January. That was the first time AMD has topped Intel (INTC) for market
share.
Meanwhile, Intel's stock rallied Monday after the company said it has
agreed to settle a pending antitrust case one-day before the case was to
go to trial. See related story."
Make It So,
Yousef |
