AMD (Sunnyvale, Calif.) reported fourth quarter sales of $1.16 billion, down 9 percent from the previous quarter and down 32 percent from the fourth quarter of 2011. AMD reported a net loss of $473 million, or 63 cents per share, wider than net losses of $157 million and $177 million in the previous and year-ago quarters, respectively.
On a pro forma basis, excluding charges associated with the termination of AMD's wafer supply agreement with Globalfoundries and restructuring charges, AMD reported a net loss of $102 million, or 14 cents per share.
AMD's fourth quarter sales were in line with consensus analysts' expectations, according to Yahoo Finance. The company's pro forma net loss was smaller than analysts expected.
Read said AMD enjoyed significant growth in sales of SeaMicro dense servers in the fourth quarter, driven by large-scale cloud data center wins. SeaMicro solutions are being deployed and evaluated by a broad variety of marquee customers, he said. AMD bought SeaMicro last year for $334 million.
Read also highlighted AMD's recent design wins at a new customer, Vizio, which he said were based on the graphics performance and long battery life of AMD's accelerated processing units (APUs), which combine graphics and microprocessing capability. The first Vizio products featuring AMD APUs will be two touch-based ultrathin notebook PCs and one tablet, he said.
For all of 2012, AMD reported sales of $5.42 billion, down 17 percent from 2011. The company reported a net loss of $1.12 billion, or $1.60 per share, compared with a net income of $491 million in 2011.
For the first quarter of this year, AMD expects sales to decline 6 to 12 percent sequentially to between $1.02 billion and $1.09 billion. AMD's first quarter forecast was below consensus analysts' expectations of $1.11 billion, according to Yahoo Finance.