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

To: AK2004 who wrote (30893)	4/2/1998 6:27:00 PM
From: StockMan	Read Replies (1) \| Respond to of 1571964

Bert, I heard a rumor that AMD has shipped a whole bunch of K6's, and they are expected to beat expectations of (.25c). What do you think. Stockman

To: AK2004 who wrote (30893)	4/2/1998 7:27:00 PM
From: Maverick	Respond to of 1571964

Packard Bell names former AMD CFO as CFO, aims at IPO SAN FRANCISCO, April 2 (Reuters) - Packard Bell NEC Inc said that it named Marvin Burkett, formerly the chief financial officer of chip maker Advanced Micro Devices Inc, as executive vice president and chief financial officer, a move it said would pave the way for an eventual initial public offering. Burkett, 55, had been senior vice president, chief administrative officer and CFO of Advanced Micro until a few days ago. He starts at Packard Bell NEC on April 6. "He will play a pivotal role in getting the company going public," said Mal Ransom, Packard Bell NEC vice president of marketing. NEC Corp <6701.T> owns 49 percent of the company. Advanced Micro has said it did not yet replaced Burkett as chief financial officer, but has assigned CFO duties to AMD president and chief operating officer, Rich Previte, until a replacement is found. Ransom said that a specific date has not been set for Packard Bell NEC to go public. "It's just a desire on the part of all the shareholders," Ransom said, referring to both the internal employees and Packard Bell NEC's shareholders NEC Corp and France's Groupe Bull also owns 12.62 percent of Packard Bell NEC. In December, NEC upped its stake to 49 percent from 20 percent. Ransom said that the company, based in Sacramento, Calif., is expected to be profitable this year, after buying Bull's Zenith Data Systems in February 1996 and then merging with NEC's Computer Systems business in July 1996. "We will be profitable in 1998," Ransom said. "We have had some vast improvements in our profitability in this quarter, so certainly we believe we are on target for this year." Burkett said that one of his challenges at Packard Bell NEC is to implement the cost controls necessary to keep the company profitable on a long-term basis in the personal computer industry, where price cutting and low margins are the norm. "Packard Bell NEC has been a maverick in the PC industry," Burkett said. "It practically invented PCs in the home market. Now with...NEC on the commercial side, they have the combination to be a major player...I think the company can offer enormous opportunities for growth." According to Dataquest Inc. of San Jose, Calif., Packard Bell-NEC was the fifth largest PC vendor worldwide in 1997, with a 4.8 percent share of the world PC market last year. However, it was also the only vendor in the top five which had no growth, as unit sales dropped 8.3 percent, compared to growth of 42.4 percent for the leading PC maker Compaq Computer Corp , 62.3 percent growth for Dell Computer Corp , and 55.9 percent for Hewlett-Packard Co