Advanced Micro Devices has reported strong revenue growth bringing the company back to profitability in the fourth quarter.
AMD reported net income of $43m (£30m) on revenue of $1.2bn for the period which ended 28 December. This compares with a net loss of $855m on revenue of $686m in the fourth quarter of 2002.
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The fourth quarter results included a $14m benefit related to restructuring charges and accounting for the introduction of the company's FASL flash memory joint venture with Fujitsu.
AMD's Computation Products Group led the company's improvement over last year's fourth-quarter results, recording revenue of $581m, up 38% from the fourth quarter of 2002. This group manufactures and sells the company's microprocessors, including the Opteron and Athlon 64 processors introduced in 2003.
Sales of both 64-bit processors were strong. Demand for the company's Athlon XP processors also increased in the fourth quarter.
Flash memory sales increased 161% from the fourth quarter of 2002 to $566m for this year's fourth quarter. AMD believed it gained market share in flash memory during the quarter.
For the full year, AMD posted revenue of $3.5bn and a net loss of $274mn. This compares with revenue of $2.7bn and a net loss of $1.3bn in 2002.
Tom Krazit writes for IDG News Service