AMD turns in flat results for its Q4

Chip contender Advanced Micro Devices (AMD) reported its fourth quarter sales at close of play yesterday and the results failed to fizzle.

Just a week after Dirk “Father of the Alpha” Meyer disappeared suddenly in a puff of Las Vegas smoke, AMD showed a profit of $375 million on turnover of $1.65 billion, with falling gross margins of 45.1 percent.

We need not feel too sorry for Dirk Meyer.  Stand in CEO Thomas Seifert said that Meyer had departed with a tidy $12 million in compensation.

The immediate priority for AMD is to find a replacement for Meyer – a task that might be quite difficult. Seifert refused to comment on how well the head hunting was going but said that he’d let us know when a head had been hunted.

AMD’s profit technically fell by nearly 70 percent compared to the same quarter a year ago, but then Intel is not going to pay AMD $1.24 billion every fourth quarter.