SUNNYVALE, Calif.--Advanced Micro Devices Inc. today reported sales of $600.3 million for its second quarter of 2002, down 33% from the first quarter of this year and a 39% decline from the like period a year ago.
The company reported a net loss of $184.9 million, or minus $0.54 per share, in the quarter. In the second quarter of 2001, AMD reported a net income of $17.4 million, or $0.05 per diluted share. In the first quarter of 2002, AMD reported a net loss of $9.2 million, or minus $0.03 per share.
"A weaker than expected PC market, particularly in North America and Europe, resulted in soft microprocessor demand in a highly competitive market," said Robert J. Rivet, AMD's chief financial officer, in a statement. "Flash memory product sales improved in the second quarter based on the strength of the high-end mobile phone market, as consumers are buying feature-rich phones built with high-density, high performance flash memory, he said.
AMD aggregate sales are currently expected to improve modestly in the third quarter compared to the second quarter. This forecast is dependent upon demand and PC processor pricing patterns in a weak PC market and the rate of growth in an improving flash memory market. At these sales levels, AMD expects to report a loss in the third quarter.
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