Feeds

Loss hit AMD renegotiates loan terms

But it's just a precautionary measure, says company

  • alert
  • submit to reddit

Mobile application security vulnerability report

A year ago From The Register, July 1998 -- a year ago In the wake of stinging losses announced earlier this week AMD has renegotiated its credit deal with its banks. On Wednesday the company reported a net loss of $65 million, having been badly hit by R&D spend and poor demand for communications products. According to the company it has met the terms of its loans in previous quarters, and the renegotiation of terms is simply a precautionary measure. The new arrangements say that AMD can't let its ratio of cash to liabilities fall below .8 to 1 from Q3 1998 to Q3 99, and that this ratio be .9 to 1 from the end of 1999. Its minimum net worth can't fall below $1.9 billiom beyond the end of Q3, and it can't suffer net losses greater than $20 million for Q3 1998. If matters don't get better, it might be forced to cut marketing spend, but it will be nervous about reducing R&D. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.