Can you make a profit mining with CPU/GPU? A Radeon HD 7950 has the following hash rates:


Around 600 MH/s for Bitcoin
Around 600 KH/s for Litecoin


I used the profitability calculator at bitcoinwisdom to estimate revenue:


Bitcoin: 0.06148 USD / Month  
Litecoin: 0.6661 USD / Month


Am I missing something? Less than 1 dollar per month? Is it because of the specialized mining hardware?
No you are not missing anything. CPU mining has been unprofitable since 2011, GPU mining just slightly later. 

Today, ASICs rule mining. The Bitcoin network has more than 300 Phash/s by now, that is 300,000,000,000 Mhash/s.

The upcoming ASIC miner generation is announced to provide more than 9,000 Mhash/s per Dollar. Times for GPU/CPU mining are long gone.

The situation is largely the same for Litecoin with a slight delay.

Also see: Why does mining profitability tend towards zero?

There might be some altcoins that can still profitably CPU/GPU mined and traded for Bitcoin thereafter, but I am not sure even they are worth when you factor in time investment.