AMD Falls 10% After Hours

is down more than 10 percent in after hours trading after the company announced its fourth quarter results. The chipmaker reported a Q4 EPS of $0.06, which was inline with Wall Street's estimates. Earnings per share were up 143 percent from the year-ago period. Revenue came in at $1.59 billion, slightly beating Wall Street's estimate of $1.54 billion. Sales were up 37 percent year-over-year. "Strong execution of our strategic transformation plan drove significant revenue growth and improved profitability in the fourth quarter," Rory Read, president and CEO of AMD, said in a

. "The continued ramp of our semi-custom SoCs and leadership graphics products resulted in a 38 percent revenue increase from the year ago quarter. Our focus in 2014 is to deliver revenue growth and profitability for the full year by leveraging our differentiated IP to drive success in our targeted new markets and core businesses." AMD is currently projecting that its first quarter sales will decline by 13 to 19 percent. The company is a bit more optimistic about the rest of the year, noting that it expects to see full-year sales growth. AMD also anticipates a positive net income result. As of the market close on Friday, January 17, shares of AMD were up more than five percent year-to-date, and were up more than 70 percent over the past 12 months. Disclosure: