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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: Scumbria who wrote (22174)	12/11/2000 5:20:41 PM
From: dhellman	Read Replies (2) \| Respond to of 275872

AMD Expects Fourth-Quarter Sales and Earnings Will be Lower Than Anticipated; Company Now Expects Flat to Nominally Higher Sales 12/11/00 5:16 PM ET SUNNYVALE, Calif.--(BUSINESS WIRE)--Dec. 11, 2000--AMD said today that it expects to report fourth-quarter sales flat to nominally higher than for the immediate-prior quarter, ended October 1, 2000, when it reported record sales of $1,206,549,000. The company said it now expects that fourth-quarter net income will be in the range of $0.50 to $0.60 per share, depending on the relative strength of PC processor sales in the closing weeks of the quarter. AMD cited weak demand for consumer PCs in the United States retail market and projected that, as a result, its unit shipments of AMD PC processors will be only nominally higher than the record 6.8 million units shipped in the immediate-prior quarter. AMD had previously stated that it expected total fourth-quarter sales to grow sequentially in the high-single-digit-range, with unit shipments of PC processors between 8 and 9 million units. "While the slowdown in demand for PCs has been attributed variously to excess channel inventory, a slowing economy, or buyer apathy, we believe it is temporary," said W.J. Sanders III, chairman and chief executive officer. "The PC in wired and wireless forms will continue to be the hub of the digital universe." The company said demand for one-gigahertz and faster AMD Athlon(TM) processors remains strong and it continues to expect to sell out its production of AMD Athlon processors. Demand for AMD Duron(TM) processors is expected to improve next quarter with the availability of chipsets featuring integrated graphics for the value-conscious buyer. The company said that demand for its flash memory products remains strong and that it currently expects sales growth for flash memory products will somewhat exceed previous guidance for the quarter. The company further said that it has good visibility into future demand for flash memory products, which it expects will remain strong in 2001. ed:link added tscquote.thestreet.com