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Los Angelas, CA -- (SBWIRE) -- 01/22/2013 -- Advanced Micro (NYSE:AMD) will unveil its latest earnings tomorrow, Tuesday, January 22, 2013. Advanced Micro Devices is a semiconductor company with manufacturing, research and development, and sales and administrative facilities throughout the world. It provides processing solutions for the computing and graphics markets. The average analyst estimate is for a loss of 20 cents per share, a spike from profit of 19 cents in the year-ago quarter. During the past three months, the average estimate has moved down from a loss of 4 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at a loss of 20 cents during the last month. For the year, analysts are projecting net loss of 23 cents per share, a swing from net income of 50 cents last year.
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The company is hoping to beat estimates after missing the mark for two straight quarters. Last quarter, it reported a loss of 20 cents per share against an estimate of net loss of 16 cents per share. The quarter before that, it missed forecasts by one cent. In the third quarter, the company swung to a loss of $157 million (21 cents a share) from a profit of $97 million (13 cents) a year earlier, missing analyst expectations. Revenue fell 24.9% to $1.27 billion from $1.69 billion.
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On average, analysts predict $1.15 billion in revenue this quarter, a decline of 32% from the year-ago quarter. Analysts are forecasting total revenue of $5.42 billion for the year, a decline of 17.5% from last year’s revenue of $6.57 billion. The company’s current ratio of assets to liabilities came in at 1.81 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term.
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