Intel doubled its earnings in 4th quarter; record sales posted for Pentium chip line
Article Abstract:
Intel reported earnings of $1.91 billion, or $2.13 per share, and $6.4 billion in revenue for 4th qtr 1996. Earnings for 4th qtr 1995 were $867 million, or $.98 per share. Record sales of Pentium and Pentium Pro microprocessors and high profit margins accounted for the gains, which surpassed analysts' predictions. Growth of the Internet, the expanding Asian market and corporate computer upgrades contributed to the demand for Intel's products. Although Advanced Micro Devices was able to take advantage of Intel's inability to keep pace with demand in 4th qtr 1996, Intel's competitors have not yet been able to decrease the company's 90% market share. Intel predicts that its 1st qtr 1997 revenue will remain constant and that its current 63% gross profit margin could decrease. Intel has rewarded each of its 48,500 employees for its recent success with a $1,000 bonus.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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Intel net falls 36%, but less than forecast: big job cut is planned; next quarter looks flat
Article Abstract:
Intel's 1st qtr 1998 financial results surpassed Wall Street analysts's revised forecasts. The company also anticipated its 2nd qtr 1998 results to be flat or slightly lower relative to the 1st qtr, and it announced plans to eliminate around 3,000 jobs through Oct 1998, mostly through attrition. Intel reported earnings of $1.27 billion, or 72 cents a diluted share, for the 1st qtr ending Mar 28, 1998. This includes a one-time charge of $165 million, or 9 cents a share, related to the acquisition of leading graphics chip manufacturer Chips and Technologies. The figures represent a 36% decline from Intel's 1st 1997 earnings of $1.98 billion, of $1.10 a share. Sales also fell to $6 billion in the 1st qtr 1998, down 7% from the 1st qtr 1997's $6.45 billion. Intel continued to blame the setback on weak demand from original equipment producers.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Intel says it's having a weak spell and its stock swoons
Article Abstract:
Intel saw its stock drop in value by as much as 14.5% on May 30, 1997 when the company announced it is expecting its second quarter results to be lower than previously anticipated. A company spokes person attributed the poor quarter to an unexpectedly low demand for Pentium processors, primarily in Europe. Intel's shares fell $12.266, ending at $151.50, a 7.5 drop. The stock was the most active issue in US markets, with 57 million shares traded. As Intel is the largest chip maker in the world, its announcement affected the entire market, causing the Nasdaq composite index to drop by 50 points and the Dow Jones industrial average to fall 88 points. The drop was temporary however, and most technology stocks and the market made a strong recovery.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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