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AMD to take $880M writedown on ATI
Advanced Micro Devices Inc. will take an $880 million writedown on the value of its handheld and digital television units in the second quarter, plus several other charges, the chipmaker said in a regulatory filing Friday. Not all is bad news though as AMD said it will record a $190 million gain related to the sale of certain 200-millimeter wafer fabrication tools.
The company also expects to take $32 million in restructuring charges in the second quarter for employee severance. AMD also said it will record $36 million in impairment charges related to the company's short-term investments in flash memory chipmaker Spansion Inc. and auction-rate securities.
Posted by | Fri, Jul 11, 2008 - 09:25 AM
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