Wednesday, April 15, 2009
Intel Corp. Tuesday (April 14) reported sales for the first quarter of $7.1 billion, in line with the company's expectations for internal planning purposes and slightly better than what many analysts had been expecting.
Sales declined 13 percent compared with the fourth quarter of 2008 and 26 percent versus the first quarter of 2008, Intel (Santa Clara, Calif.) said.
Intel reported a net income for the quarter of $647 million, or 11 cents per share. Both were down more than 55 percent from the first quarter of 2008 but up more than 175 percent compared with the fourth quarter of 2008, the No. 1 chipmaker said.
"We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns," said Paul Otellini, Intel president and CEO, in a statement.
Intel said first quarter microprocessor unit sales were down versus the fourth quarter of 2008. Revenue Atom microprocessors and chipsets was $219 million, down 27 percent sequentially, Intel said.
Spending for the quarter was $2.5 billion, consistent with the company's expectation, Intel said. Restructuring and asset impairment charges were $74 million, lower than the expectation of $160 million, Intel said.
Citing continued difficult economic conditions and limited visibility, Intel said it would not provide a second quarter revenue outlook. For internal purposes, Intel said it was planning for revenue to be approximately flat. In January, Intel also declined to provide a revenue outlook, instead offering an internal forecast number.
Intel said it is still planning to spend between $10.4 billion and $10.6 billion on R&D and merger and acquisitions and expects capital spending to be down slightly from 2008.
By: DocMemory
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