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ATI acquisition widens AMD Q4 net loss

Posted: 21 Jan 2008     Print Version  Bookmark and Share

Keywords:ATI acquisition  AMD loss  Q4 results 

Advanced Micro Devices Inc. announced its Q4 net loss widened, partly due to a goodwill impairment charge related to its Rs.22,107.90 crore ($5.6 billion) acquisition of ATI Technologies Inc., according to an Associated Press report.

The struggling company recorded net loss of Rs.6,987.68 crore ($1.77 billion), or Rs.120.80 ($3.06) per share, compared with a loss of Rs.2,273.96 crore ($576 million), or Rs.42.64 ($1.08) per share, in the quarter a year earlier.

The company admitted in December that it overpaid when it bought the graphics chipmaker but did not specify how big the charge would be. AMD recorded a charge of Rs.6,356.02 crore ($1.61 billion) for impairment of goodwill and acquired intangible assets.

Excluding charges of Rs.114.09 ($2.89) per share, the company would have reported a loss of Rs.6.71 (17 cents) per share. Revenue increased 9 per cent from Rs.6,434.98 crore ($1.63 billion) to Rs.6,987.68 crore ($1.77 billion). However, according to analysts polled by Thomson Financial, analysts were expecting Rs.14.21 (36 cents) per share loss on revenue of Rs.7,066.63 crore ($1.79 billion).

Even as it promised investors to return to profitability in 2H 08, AMD said it expects revenue to "decrease in line with seasonality" in Q1.

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