SAN FRANCISCO Spansion LLC, the flash memory operation jointly owned by Advanced Micro Devices Inc. and Fujitsu Ltd., expects to incur another operating loss for its fiscal fourth quarter, according to filings made Monday (Nov. 28) with the U.S. Securities and Exchange Commission (SEC).
Blaming constraints on testing capacity for some flash memory products, AMD said Spansion's fabs are not operating at full capacity and that AMD's Memory Products Group would, as a result, incur a loss for the fourth quarter. AMD currently owns 60 percent of Spansion.
Spansion lost $20 million in fiscal 2004 and $257 million in the first nine months of 2005, according to a Monday filing. As of Sept. 25, Spansion had $781 million principal amount of outstanding debt, including $381 million owed to AMD and Fujitsu, according to the filing.
filed for an initial public offering (IPO) with the SEC in April. Earlier this month, Spansion disclosed more details of the IPO, saying it estimates it will receive $561 million in net proceeds from the IPO, and $193 million in net proceeds from the sale of convertible preferred stock, according to reports.