Updated from 4:44 p.m. EDTSAN FRANCISCO -- Advanced Micro Devices ( AMD) posted another sizable loss in its third quarter, even as the chipmaker's top line benefited from strong demands for PCs. And with a slew of new-product releases and various cost-cutting moves taking effect, the company said it was making progress in digging itself out of its hole. "Every one of our business units is entering an exciting new product cycle," CEO Hector Ruiz told analysts in a post-earnings conference call Thursday. "We are very encouraged with our progress, but dissatisfied with our financial results and working diligently to bring this company back to profitably as soon as possible," Ruiz said. In the three months ended Sept. 29, AMD had a loss of $396 million, or 71 cents a share, vs. net income of $134 million, or 27 cents a share at this time last year. The Sunnyvale, Calif., chipmaker's loss included $120 million, or 22 cents a share, in charges relating to its acquisition of graphics-chip company ATI and its stake in Spansion ( SPSN), a flash memory maker that AMD spun off in 2006. Analysts were expecting a loss of 62 cents a share, according to Thomson Financial. So far, AMD has lost about $1.6 billion this year. And while the company posted an operating loss in each of its three main business groups during the third quarter, AMD pointed out that its total operating loss in the quarter declined to half the level of its recent second quarter.