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Heavy competition hurts Cyrix

Cyrix is the latest chip maker to wilt under competition in the processor market.

Cyrix reported bleak financial news today, the latest company to wilt under competitive pressure from Intel and other rivals in the fierce microprocessor market.

Cyrix, which released its results after the close of market, reported second-quarter revenues of $27.1 million, down 46 percent compared to the corresponding period last year. The company recorded a net loss of $16.4 million for the quarter ending June 30, compared to a profit of $7.5 million income last year. Total losses for the first six months of this year are $14.5 million, compared to a $25 million profit for the first half of 1995.

Cyrix president Jerry Rogers said in a written statement that the company is focusing on growing its customer base by competing on prices.

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