AMD issues second profit warning

By Alun Williams

Posted on 3 Jul 2002 at 14:50

AMD has warned of lower sales, again. It's the company's second profit warning within a month - the sales forecast has been revised further downwards.

The microprocessor company yesterday issued a formal statement anticipating sales of $600 for its second financial quarter, ending June 30, 2002. This replaces a projection of sales to be in the $620m to $700m range.

As you would expect, the company's shares were hit in the wake of the announcement, dropping almost four per cent on the American markets

It was back in mid-June that AMD warned of reporting a 'substantial operating loss' and it was among a number of tech-companies to issue gloomy financial forecasts. Originally, the company had projected revenues to fall between $820m and $900m.

AMD's official second quarter financial results will be appearing on 17 July. This is one day after Intel, which also issued a profits warning back in June.