AMD said strong consumer demand for personal computers helped the company zoom past Wall Street's expectations for its fourth fiscal quarter of 1999, although the chip maker warned of a possible slowdown in the months ahead.
Net income for the fourth quarter of fiscal 1999 was $US65 million, or 43 cents per diluted share, compared with $US22.3 million, or 15 cents per share a year ago, AMD said in a statement. Financial analysts had expected AMD to profit by just 1 cent per share, according to a poll by First Call Corp.
Sales for the quarter, which ended December 26, were $US968.7 million, up 23 per cent from $US788.8 million a year ago. For the fiscal year 1999 AMD reported a loss of $US88.9 million, or 60 cents per share, which compares with a loss of $US104 million, or 72 cents per share for fiscal 1998. Sales for the full year were $US2.8 billion, up 12 per cent from $US2.5 billion in fiscal 1998.
Looking ahead, sales in the first quarter of 2000 are likely to be to be flat or slightly down from the period just ended, AMD said. The company cited an expected slowdown in the retail market following the exceptionally strong fourth quarter.
By idg staff