AMD Beats Estimates, Still Posts 4Q Loss

Sanders says AMD picked up share in 2001

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Advanced Micro Devices turned in fourth-quarter sales of just less than $1 billion and posted a loss of 5 cents per share in a report that was not as bad as Wall Street had forecast.

The Sunnyvale, Calif.-based chip maker said its sales for the quarter reached $951 million, compared with $1.2 billion for the same quarter a year earlier. Its loss was $15.8 million, compared with a profit of $178 million for the year-ago quarter.

However, the nickel-per-share loss was better than the 18 cent loss that was the average forecast of financial analysts.

In a statement, AMD Chairman Jerry Sanders said he believes his company picked up "four points of market share in 2001",setting up a potentially interesting review of the quarter when compared to rival Intel. A day earlier, Intel executives said they believed they picked up market share in what was, for them, a stronger-than-expected fourth quarter.

Looking ahead, AMD said in a statement that it expects a slight, quarter-to-quarter decline in sales in the first quarter of 2002, which would put it in line for a "slight loss" in the quarter. Financial analysts have been expecting first-quarter sales of $1.3 billion for AMD, with a loss of 14 cents per share.

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