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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Monty Lenard who wrote (125879)	10/11/2000 7:16:39 PM
From: Bipin Prasad	Read Replies (1) \| Respond to of 1585686

From Bloomberg:Advanced Micro Devices Posts Third-Quarter Profit as PC Chip Sales Surge By Cesca Antonelli Sunnyvale, California, Oct. 11 (Bloomberg) -- Advanced Micro Devices Inc., Intel Corp.'s main rival in the market for microprocessors, posted a third-quarter profit as personal-computer and cell-phone makers snapped up the company's chips. Profit from operations was $219.3 million, or 64 cents a share, compared with a loss of $105.5 million, or a split-adjusted 36 cents, a year ago. Sales jumped 82 percent to $1.21 billion from $662.2 million, the company said in a release distributed by Business Wire. Advanced Micro has built its technical prowess by beating Intel to market with faster chips and added sales as Intel couldn't build enough processors to meet demand. The Sunnyvale, California- based company is also selling more flash memory used in gear such as cell phones to store data when machines are turned off. ``AMD has a couple things going for it: They're taking share in the semiconductor space, and flash is a good place to be right now,'' said Louis Kokernak, senior equity strategist at Martin Capital Advisors, which owns 27,000 Advanced Micro shares. The company was expected to earn 62 cents a share, the average estimate of analysts surveyed by First Call/Thomson Financial. Unofficial forecasts published on the Internet reached 68 cents. Including a gain for selling a business and charges for retiring senior notes, net income in the recent quarter was $408.6 million, or $1.18 a share. Advanced Micro shares fell 50 cents to 21.75 on the New York Stock Exchange before the report. They've added 50 percent this year.