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California Chip Maker AMD's Losses Less than expected.(Originated from The Bakersfield Californian)
Knight Ridder/Tribune Business News, January, 1997 by Sandoval, Ricardo
Jan. 14--Even though it revealed a fourth-quarter loss of more than $20 million, Monday turned out to be a pretty good day for chip maker Advanced Micro Devices Inc.
That's because the loss was less than Wall Street had expected, AMD announced it is gaining ground in its competition against longtime rival Intel Corp. and the firm's stock price ended the day up more than 4 percent.
AMD reported a loss of $21.2 million, or 15 cents per share, for the quarter ended Dec. 29. Securities analysts had anticipated a loss of about 19 cents per share.
Cumulative losses for 1996 hit $69 million, or 51 cents per share.
Securities analysts' pessimism stemmed from the Sunnyvale company's predicament of lagging behind Intel in...
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