AMD broke its losing streak last week when it reported its first profitable quarter in four quarters.
The company, which recently launched its long-awaited K6 microprocessor, beat Wall Street's estimates which predicted a first quarter loss of 2 cents per share.
For the period ended 30 March 1997, AMD reported net income of nearly $13 million (#8.1 million), compared with profits of $25.3 million for the same period a year ago. First quarter revenues were also up, at $552 million compared to $544.2 million a year earlier.
AMD has posted losses for the intervening three quarters, including a loss of $21.2 million for the preceding Q4 1996 period.
Jerry Sanders, AMD chairman and CEO, said the company's return to the black was, due in part to the arrival of the K6, but also had the company's strong flash memory business to thank for.
"Recovering strength in all sectors of our business produced the sales strength necessary for AMD to return to modest profitability, even before volume shipments of AMD-K6 MMX processors," noted Sanders.
He would not be drawn on Q2 predictions, although he did say the company would be shipping "hundreds of thousands" of the K6 processors during the second quarter of 1997.
At the launch of the K6, AMD officials said they would steal in the region of 30% market share from Intel. It would appear a tall order, given the current lack of support for the K6 from the larger PC manufacturers.
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