Sunnyvale (CA) – AMD announced its seventh consecutive quarterly loss. AMD lost $1.189 billion during the quarter, including a $920 million write down of ATI operations. Dirk Meyer has been announced as new president and CEO of the company. AMD late-trade shares have been halted.

AMD posted what the company called yet another “disappointing” quarter. The company reported AMD revenue of $1.309 billion and a loss of $1.189 billion, including an impairment charge relating to the ATI acquisition of $920 million. The loss from continuing operations was $269 million. The result also included $190 million of proceeds from the sale of 200 mm production equipment, indicating that AMD’s loss without these gains would have been closer to $450 million.

For the first quarter of this year, AMD reported revenue of $1.456 billion and a net loss of $358 million.

The company said that microprocessor unit shipments and average selling prices were down sequentially and flat year over year. GPU units were down sequentially and up year over year. Average selling prices were flat with Q1 and down year over year.

Following the announcement, we heard rumors that AMD may be making a big announcement during the conference call. It turned out thatthese rumors were true as CEO Hector Ruiz announced his resignation as CEO, handing the role to Dirk Meyer, who has assumed the role of president and CEO. Trading of AMD shares has been halted at a price of $5.30 per share.

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