SUNNYVALE, Calif. (AP) -- Advanced Micro Devices Inc. on Tuesday posted a loss for the fourth quarter, after the chip maker wrote down the value of investment in its former GlobalFoundries unit by $209 million and recorded $98 million in restructuring costs.
AMD lost $177 million, or 24 cents per share. A year earlier, its net income was $375 million, or 50 cents per share.
Excluding one-time items like the GlobalFoundries investment and restructuring charges, AMD said it earned 19 cents per share in the latest quarter. Revenue rose 2 percent, to $1.69 billion from $1.65 billion a year earlier.
So its earnings analysts' average forecast, while its revenue fell short. Analysts expected the company to report adjusted profit of 16 cents per share on revenue of $1.72 billion, according to FactSet.
GlobalFoundries was AMD's manufacturing business.
AMD spun off the unit into a separate company in 2009 but still has a stake in it and must account for that investment in its results.
AMD said its profit grew 4 percent for all of 2011, to $491 million, or 66 cents per share. In 2010 AMD posted a profit of $471 million, or 64 cents per share. Revenue increased 1 percent, to $6.57 billion from $6.49 billion.
The company said its revenue in the first quarter will be about 8 percent lower than in the fourth quarter. That implies a total of about $1.56 billion, down from the $1.61 billion it reported in the first quarter of 2011.
Analysts expect the company to report $1.59 billion in revenue on average.
AMD shares fell 19 cents, or 2.9 percent, to $6.34 in extended trading after the company reported its results. They had ended regular trading up a penny.
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