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ATI buyout widens AMD Q4 losses

Posted: 21 Jan 2008 ?? ?Print Version ?Bookmark and Share

Keywords:ATI acquisition? AMD loss? Q4 results?

Advanced Micro Devices Inc. announced its Q4 net loss widened, partly due to a goodwill impairment charge related to its $5.6 billion acquisition of ATI Technologies Inc., according to an Associated Press report.

The struggling company recorded net loss of $1.77 billion, or $3.06 per share, compared with a loss of $576 million, or $1.08 per share, in the quarter a year earlier.

The company admitted in December that it overpaid when it bought the graphics chipmaker but did not specify how big the charge would be. AMD recorded a charge of $1.61 billion for impairment of goodwill and acquired intangible assets.

Excluding charges of $2.89 per share, the company would have reported a loss of 17 cents per share. Revenue increased 9 percent from $1.63 billion to $1.77 billion. However, according to analysts polled by Thomson Financial, analysts were expecting 36 cents per share loss on revenue of $1.79 billion.

Even as it promised investors to return to profitability in 2H 08, AMD said it expects revenue to "decrease in line with seasonality" in Q1.

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