Advanced Micro Devices, Inc. (AMD: chart) reported after market close Wednesday that it swung to a quarterly profit, citing strong demand for its chips for computers and cell phones. The world’s second-biggest semiconductor maker announced net income of $45.1 million, or 12 cents a share, for its fiscal 2004 first quarter, rebounding from a loss of $146.4 million, or 42 cents a share, in the comparable period a year earlier. Results outpaced analysts’ expectations for a profit of 3 cents a share, on average. AMD posted revenue of $1.24 billion for the quarter ended March 28, a 73% jump from $714.6 million, in the same period of fiscal 2003. Analysts had projected revenue of $1.18 billion in the quarter. Sunnyvale, California-based AMD said that demand was particularly strong for its newly launched 64-bit processors, shipments of which doubled from the fourth quarter.

Looking ahead, AMD said that it expects second-quarter sales to be at the same level as in the first quarter.

AMD shares dropped 4 cents to close Wednesday at $17.12. The stock rose 2.45% to $17.54 in after-hours trading.

Apple Computer, Inc. (AAPL: chart) said Wednesday that its quarterly earnings tripled from a year ago, driven by surging sales of its iPod digital music players and notebook computers. The computer maker rolled out a net profit of $46 million, or 12 cents a share, for the second quarter of fiscal 2004, compared with a net profit of $14 million, or 4 cents a share, in the prior-year equivalent. Excluding items, earnings came in at $53 million, or 14 cents per share, in the quarter ended March 27. Cupertino, California-based Apple recorded sales of $1.91 billion in the second quarter, a 29% improvement from $1.48 billion, last year. The company said that it sold 807,000 iPods in the quarter, up more than 900% from a year earlier. iPod sales accounted for approximately half of the revenue growth. Second-quarter results glided past analysts’ estimates for earnings of 10 cents per share, on revenue of $1.8 billion.

The stock shed 29 cents on Wednesday to $26.64. Apple shares soared 9.46% to $29.16 in after-market trade.

Texas Instruments Incorporated (TXN: chart) of Dallas, Texas, reported after the bell Wednesday that its first-quarter profits more than tripled to $367 million, or 21 cents per share, from $117 million, or 7 cents per share, in the year-ago period. The world's No.1 maker of chips for cell phones said quarterly sales rose to $2.94 billion from $2.19 billion, in fiscal 2003. Analysts were looking for earnings of 21 cents a share, on revenue of $2.89 billion. TI attributed the results to solid demand for its chips.

TI shares slipped 1.04% to close Wednesday at $28.68. The stock gained 37 cents to $29.05 in after-hours trading.

SanDisk Corporation (SNDK: chart), the Sunnyvale, California-based maker of flash memory cards, announced Wednesday that it had net earnings of $63.6 million, or 34 cents a share, in its first quarter, in contrast to net earnings of $24.9 million, or 17 cents a share, in the 2003 corresponding period. Results topped by 2 cents a share the consensus estimate of analysts. SanDisk said the profit rise was due to strong revenue, which surged to $386.9 million from $174.5 million, in the previous year.

The stock gained 98 cents on Wednesday to $32.51. Company shares tumbled 15.26% to $27.55 in after-market trade.

Extreme Networks, Inc. (EXTR: chart) said after market close Wednesday that it narrowed its quarterly loss, aided by higher sales. The Santa Clara, California-based network equipment maker reported a third-quarter net loss of $1.1 million, or 1 cent a share, compared with a prior-year net loss of $7.1 million, or 6 cents a share. Revenue climbed to $88.9 million in the quarter ended March 28, from $85.2 million a year ago.

Company shares edged up 12 cents to close Wednesday at $7.46. The stock surged 7.77% to $8.04 in after-hours trading.

Bank of America Corporation (BAC: chart) of Charlotte, North Carolina, posted Wednesday first-quarter net income of $2.68 billion, or $1.83 per share, up 11% from net income of $2.42 billion, or $1.59 per share, in the same period a year ago. The U.S. second-largest bank said results were due to strong growth in consumer lending and a decrease in bad loans. The average analysts’ estimate was for a profit of $1.80 per share.

The stock closed Wednesday down 41 cents, or 0.51%, at $80.09.

MGIC Investment Corporation (MTG: chart) announced Wednesday lower quarterly earnings, citing continued decline in insurance policies written and higher claims on bad loans. The Milwaukee, Wisconsin-based mortgage insurer turned in a profit of $130.1 million, or $1.31 per share, for its first quarter, compared with $141.1 million, or $1.42 per share, last year. Results were ahead of the mean analysts’ estimate for a profit of $1.19 a share.

Company shares gained $2.20 to $69.71 at market close Wednesday.

Rowan Companies, Inc. (RDC: chart) of Houston, Texas, reported Wednesday a smaller first-quarter net loss of $11.3 million, or 11 cents a share, compared with a loss of $17.2 million, or 18 cents a share, in the prior-year period. The provider of contract drilling services said results were helped by higher revenue, which advanced 30% to $170.5 million in the quarter.

The stock rose 1.12% on Wednesday to $21.60.

Harley-Davidson, Inc. (HDI: chart) said Wednesday that its quarterly profits rose 10%, on improving sales. The Milwaukee, Wisconsin-based motorcycle maker posted first-quarter net income of $204.6 million, or 68 cents a share, against net income of $186.2 million, or 61 cents a share, last year. Results were 4 cents a share above the mean estimate of analysts.

Company shares surged 6.96% to close Wednesday at $59.50. The stock added a penny to $59.51 in after-market trade.

Rambus Inc. (RMBS: chart) of Los Altos, California, announced Wednesday a first-quarter profit of $8.3 million, or 7 cents a share, up from $5.1 million, or 5 cents a share, generated in the year-ago period. Analysts expected the memory-chip designer to earn 6 cents a share, on average. Rambus said the 16% rise in revenue helped boost the results.