Don't expect a miracle when AMD announces its second-quarter financial results next Thursday. Quoting a July 11 filing with the U.S. Securities and Exchange Commission, eWeek says AMD plans to write down financial charges of almost $950 million for the second quarter.
$880 million of this substantial figure comes from the Consumer Electronics division of the former ATI, whose handheld and digital television units AMD says are "significantly underperforming." On top of that, AMD will write down $32 million because of the layoffs it announced in April, and it will shoulder a $36 million charge related to some of its investments—including one in memory maker Spansion.
eWeek says AMD will attempt to compensate for those charges by selling off some of its 200-mm manufacturing equipment, but that will only offset the scales by $190 million. According to Deutsche Bank analyst Ross Seymore, AMD has taken a total of around $2.2 billion in ATI-related charges since the merger between the two companies closed in late 2006. Considering AMD paid $5.4 billion for ATI, the charges amount to nearly 40% of the asking price.
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