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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: advocatedevil who wrote (60404)	2/13/2002 1:12:50 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

AMD says on track to return to profit in Q2 Reuters, 02.13.02, 12:40 AM ET forbes.com TOKYO, Feb 13 (Reuters) - Advanced Micro Devices Inc, the world's second-largest maker of microprocessors that run PCs, is on track to meet its targeted return to net profit in the second quarter, chief operating officer Hector Ruiz said on Wednesday. The company has said repeatedly in recent months it expected to return to profitability in the second quarter after last year's deep info-tech slump sent AMD and many other chip makers into the red. "The market last year declined 32 percent, the worst year in the history of the semiconductor industry. We were fortunate that our sales were down only 16 percent," Ruiz told a news conference. "Going into 2002, there's a lot of uncertainty. Most of the estimates from analysts range from no growth to single-digit growth. We expect to outperform the market." But Ruiz said it was hard to gauge how the market was performing only six weeks into the new year, although there was nothing so far that would prompt a change to the company's earnings outlook. AMD expects capital spending to be flat at best in 2002 compared with the previous year, although no specific target has been set, he said. Rival microprocessor maker Intel Corp, the world's biggest chipmaker, has said it would cut its capital spending this year after hefty investments last year.