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Advanced Micro Devices, Inc. Message Board

  • rpgjr2000 rpgjr2000 Feb 11, 2003 6:57 PM Flag

    good amd news

    AMD on track with cost-cutting plan - CEO
    February 11, 2003 4:28:00 PM ET


    SAN FRANCISCO, Feb 11 (Reuters) - Chipmaker Advanced Micro Devices (AMD) is on track to cut its quarterly costs to $800 million by the end of its second quarter, Chief Executive Hector Ruiz said on Tuesday.

    Ruiz declined to discuss the company's outlook at the Banc of America Securities technology conference, but said AMD was on target to achieve its goal of reducing its costs by $100 million per quarter by the second quarter of 2003, which ends in June.

    Comparative cost figures for previous quarters were not immediately available.

    Sunnyvale, California-based AMD, the second largest maker of microprocessors that serve as the brains of computers, said last month it expected flat to slightly higher first-quarter sales. AMD posted a fourth-quarter net loss of $2.49 per share after a charge related to layoffs.

    Earlier at the conference, being held in San Francisco, Banc of America Securities semiconductor analyst Douglas Lee forecast a modest recovery for the industry this year, with its first growth in two years. He projected 10 percent growth for 2003 and 20 percent to 25 percent growth for 2004. REUTERS

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    • Excellent

    • AMD on track with cost-cutting plan - CEO
      February 11, 2003 4:28:00 PM ET


      SAN FRANCISCO, Feb 11 (Reuters) - Chipmaker Advanced Micro Devices (AMD) is on track to cut its quarterly costs to $800 million by the end of its second quarter, Chief Executive Hector Ruiz said on Tuesday.

      Ruiz declined to discuss the company's outlook at the Banc of America Securities technology conference, but said AMD was on target to achieve its goal of reducing its costs by $100 million per quarter by the second quarter of 2003, which ends in June.

      Comparative cost figures for previous quarters were not immediately available.

      Sunnyvale, California-based AMD, the second largest maker of microprocessors that serve as the brains of computers, said last month it expected flat to slightly higher first-quarter sales. AMD posted a fourth-quarter net loss of $2.49 per share after a charge related to layoffs.

      Earlier at the conference, being held in San Francisco, Banc of America Securities semiconductor analyst Douglas Lee forecast a modest recovery for the industry this year, with its first growth in two years. He projected 10 percent growth for 2003 and 20 percent to 25 percent growth for 2004. REUTERS

    • This has been the hardest stock to figure out that I've ever owned, but I think I'm getting the hang of it. It's almost like everytime there is good news, the stock tanks, and everything comes back up in the face of doom. You'd think it would be the other way around, wouldn't you?

 
AMD
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