AMD Warns Again; Expects Revenue Below Revised Numbers

Advanced Micro Devices

The Sunnyvale, Calif.-based chip maker, rival to chip giant Intel, said it now expected to "report sales of approximately $600 million for the second quarter ending June 30, 2002."

Two weeks ago, AMD said it expected sales of between $620 million and $700 million. Several weeks before that, it projected sales of between $820 million and $900 million for the three-month period.

AMD also said two weeks ago that it expects to report a substantial loss for the quarter; its new statement made no reference to its earnings or loss expectation, nor did the company provide further details than to say it expects to report official results on July 17.

In after-hours trading a day before the most recent announcement, shares of AMD were trading at $8.59 per share, down from the July 2 closing price of $8.80.