Chip manufacturer AMD has posted a fourth quarter loss of more than £16m as a result of debt repayments. AMD did, however, achieve record sales of £700m, up 5% on the same quarter in 2003.
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Robert Rivet, AMD chief financial officer, said, “Record fourth quarter microprocessor sales were driven by increased server and mobile unit sales. As anticipated, AMD64 processor sales increased to 50% of total PC processor sales for the quarter.”
Rivet said AMD’s Memory Group, which sells flash memory products, experienced weaker than expected sales, “due to an aggressive pricing environment, significantly lower sales in Japan, and a delay in qualifying a new product in the wireless segment”.
“As planned, we took significant steps to improve our balance sheet and liquidity position during the quarter, which reduced our debt by £111m,” Rivet said.