AMD Issues Second Quarter Report

Chipmaker AMD reported revenues of $1.4 billion for the second quarter, and indicated an operating loss of $457 million and a net loss of $600 million. This amounts to $1.09 per share of the corporation's stock.

AMD had reported operating losses of $504 million against revenues of $1.2 billion during the first quarter of 2007.

In a statement issued by the company, its chief financial officer, Robert J. Rivet, said that company's financial outlook was improving, but there was more work to be done.

"While we made solid progress in the second quarter across a number of fronts, we must improve our financial results," said Rivet. "We continue to focus on realigning our business model and reducing our capital expenditures and cost structure in the second half of the year."

Within its Computing Solutions division, the company reported a 38 percent increase in the number of microprocessor units that it shipped. AMD's Consumer Electronics division reported a decline of 28 percent. This was attributed largely to decreased handheld unit sales, but was partially offset by an increase in revenues from digital TV processor sales.

The company's financial results for the second quarter ended June 30.