US chip maker Advanced Micro Devices yesterday posted bullish fiscal first-quarter results, boosted in part by strong sales of its Athlon processors.
For the quarter ended April 2, 2000, AMD reported net income of $US189.3 million, or $1.15 per diluted share. In the previous quarter, AMD reported net income of $65 million, or 43 cents per share. The latest earnings compared with a net loss of $128.4 million, or 88 cents per share, in the same period last year.
AMD posted record sales of $1.09 billion, a 73 per cent jump in sales from $631.6 million in the year-ago quarter.
The chip maker's quarterly results bested Wall Street expectations by a long shot. A consensus of 15 analysts polled by First Call/Thomson Financial predicted AMD would post earnings per share of 57 cents.
The quarter was the best in the company's history, Jerry Sanders, AMD's chairman and CEO, said in a statement issued yesterday.
Sales of Athlon processors increased by 50 per cent to 1.2 million units, Sanders said. PC-related revenues grew 14 per cent sequentially and by more than 65 per cent over the first quarter of 1999, Sanders said in the statement. Total unit sales reached a record of 6.5 million units.
AMD reported sales of flash memory devices at $327 million, an increase of 19 per cent from the previous quarter and a more than 150 per cent increase from the same quarter last year, the chip maker said.
