AMD's Q4 Report Out

In the fourth quarter of 2008, AMD reported a net loss of $1.424 billion, or $2.34 per share. For continuing operations, fourth quarter 2008 loss was $1.414 billion, or $2.32 per share, and the operating loss was $1.274 billion. The results for continuing operations include an unfavorable impact of $996 million, or $1.64 per share as described in the table below. Loss from discontinued operations was $10 million, or $0.02 a share.

For the year ended December 27, 2008, AMD achieved revenue of $5.808 billion. Fiscal 2008 net loss was $3.098 billion. AMD reported revenue of $5.858 billion and a net loss of $3.379 billion for fiscal 2007

By DAVID JOLLY
Published: January 22, 2009
Sony, the Japanese electronics company, said Thursday that it expected to post a record annual operating loss of nearly $3 billion because of the rapid deterioration of the global economy. It also announced a major restructuring that will include layoffs and factory closings.

“The massive economic upheaval being experienced across the world is sparing no one in the consumer electronics world,” the Sony chief executive, Howard Stringer, said at a Tokyo news conference.

Mr. Stringer said the main problem had been “a significant deterioration” in the company’s core electronics division. But business worsened across every major line, including games, movies and financial services, even as competition from Apple’s iPhone and Nintendo’s Wii game console turn up the heat.

The economic crisis has reduced demand for Sony’s products, like televisions and cameras, movies and PlayStation 3 game consoles, even as the rise of the yen against other currencies reduces the value of its overseas sales when the proceeds are converted into yen.

Additionally, Mr. Stringer said, “consumer credit has been stifled,” and “some of our biggest retailers have been liquidated.”

Sony is hardly alone. In November, its Japanese rival, Panasonic, revised its annual sales forecast downward by 700 billion yen. LG Electronics, the South Korean cellphone maker, reported a fourth-quarter net loss of nearly $500 million on Thursday. And Samsung Electronics, which reports its earnings Friday, is expected to post its first quarterly net loss ever.

Sony, long one of Japan’s most internationally visible companies, was long seen as a leader in consumer electronics, owing in part to products like the Sony Walkman. But it is facing threats from a range of competitors as the lines between software and electronics companies begins to blur.

“Our playing field has changed,” Mr. Stringer said. “Sony is no longer competing solely with traditional Japanese electronics companies. Samsung and LG have now broadened their product portfolios,” while they gain some protection from the global downturn by the weakness of the South Korean currency, the won, he added.

“At the same time,” Mr. Stringer said, “Apple, Microsoft and even Cisco are aggressively positioning themselves to anchor the digital home.”

Thursday’s announcement was the second downward revision Sony has made to its current-year forecast; it made a similar move in October. Sony executives said the top three managers would forgo their bonuses this year. In addition, bonuses and salaries will be reduced for other senior executives and corporate managers.

The company projects an operating loss of 260 billion yen, about $2.9 billion, for the current business year, compared with a profit of 475.3 billion yen a year earlier. The new estimate represents a deterioration of 60 billion yen from the October forecast. Sony’s business year runs from April through March. It will report its results for the October-December quarter on Jan. 29.

The dollar has fallen nearly 20 percent against the yen since mid-August, while the euro has lost almost 30 percent in the same period.

“The operating loss is much bigger than I expected,” Nobuo Kurahashi, an analyst at Mizuho Investors Securities told Reuters. “They may soon announce additional restructuring steps, as what’s already out there is not that drastic. I cannot help but have a negative impression from all of this.”

The company said it expected to book restructuring charges of 60 billion yen this year and 110 billion yen next year as it works to cut 250 billion yen in costs next year.

The biggest share of the operating loss is expected to come at Sony’s television operations, which have been losing money for years. The company said it would cut about 1,000 Japanese contract workers as it closed design and manufacturing operations at its plant in Ichinomiya, Japan, and consolidated production at a plant in Inazawa.

Sony will also start an early retirement program “supporting employees to take up new opportunities beyond the Sony group” and said it was planning a “significant reduction” in marketing and other expenses.

The early retirements may include some of the job cuts announced in December, when Sony said it would lay off 8,000 workers and close as many as six plants.

The company said that for the current fiscal year it expected sales to fall 13 percent from last year, to 7.7 trillion yen, and that it expected a net loss of 150 billion yen — its first net loss in 14 years — in contrast to a profit of 369.4 billion a year earlier.

Sony has faced major reversals in the past but has managed to come back stronger. The company acquired Columbia Pictures and Tristar in 1989, but eventually recognized that it had overpaid and wrote down $3.2 billion five years later. That was the last time the company posted a net loss.

Sony shares fell 2.6 percent in Tokyo. The company announced its new forecast after the close of trading in Tokyo. The stock has declined by nearly 65 percent in the last 12 months.

Advanced Micro misses on top and bottom line Reports Q4 (Dec) loss of $0.68 per share, excluding non-recurring items, $0.14 worse than the First Call consensus of ($0.54); revenues fell 33.1% year/year to $1.16 bln vs the $1.23 bln consensus. In light of the current macroeconomic conditions, very limited visibility and continued corrections in the supply chain, AMD expects 1Q09 revenue to decrease from the 4Q08. (Q1 consensus calls for a 13% sequential decline in revs) "We remain focused on further reducing our breakeven point through targeted restructuring actions while ensuring we execute our highly-competitive product and technology roadmaps. We made significant progress toward the creation of 'The Foundry Company' in the quarter, and anticipate closing the transaction in February. We expect our ongoing restructuring actions and asset smart strategy, combined with the strength of our innovative product offerings, will leave us well positioned for a global market recovery."

Advanced Micro Devices Inc. (AMD:Advanced Micro Devices, Inc on Thursday said it is rejecting rival Intel Corp.'s legal argument that the creation of The Foundry Company and its acquisition of ATI Technologies breached some provisions in cross-licensing agreements between the two giants. Intel had asked for a meeting in a Jan. letter, according to an AMD filing with the Securities and Exchange Commission. AMD Spokesman Drew Prairie said "the letter is another attempt by our competitor to cause uncertainty as we approach our Asset Smart deal closing next month."

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10% is worrysome, and who knows about AMD? May be worse, may be same, or possibly better? Theyre already on the low end anyways, so the effects will show less % wise in the negative, and more in the positive





Theres nothing positive about this JDJ !!!



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From AMD Reports Fourth Quarter and Annual Results:


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In the fourth quarter of 2008, AMD reported a net loss of $1.424 billion, or $2.34 per share. For continuing operations, fourth quarter 2008 loss was $1.414 billion, or $2.32 per share, and the operating loss was $1.274 billion. The results for continuing operations include an unfavorable impact of $996 million, or $1.64 per share as described in the table below. Loss from discontinued operations was $10 million, or $0.02 a share.

For the year ended December 27, 2008, AMD achieved revenue of $5.808 billion. Fiscal 2008 net loss was $3.098 billion. AMD reported revenue of $5.858 billion and a net loss of $3.379 billion for fiscal 2007









Nothing at all.