Intel Earnings are actually FLATT !!!! - SEE 6 months
Operating income grew from 4,957 to 4,962 or 0.1% on 18% more sales.
SG&A grew by same amount, operating expenses grew more than sales at 28%
From the press release of the company
INTEL CORPORATION
CONSOLIDATED SUMMARY INCOME STATEMENT DATA
(In millions, except per share amounts)
Three Months Ended Six Months Ended
July 1, June 26, July 1, June 26,
2000 1999 2000 1999
NET REVENUE $8,300 $6,746 $16,293 $13,849
Cost of sales 3,283 2,740 6,272 5,634
Research and development 971 731 1,922 1,394
Marketing, general and
administrative 1,223 924 2,347 1,815
Amortization of goodwill and
other acquisition-related
intangibles 394 31 707 49
Purchased in-process research
and development 21 -- 83 --
Operating costs and expenses 5,892 4,426 11,331 8,892
OPERATING INCOME 2,408 2,320 4,962 4,957
Interest and other 2,341 290 2,981 637
INCOME BEFORE TAXES 4,749 2,610 7,943 5,594
Income taxes 1,612 861 2,110 1,846
NET INCOME $3,137 $1,749 $5,833 $3,748
BASIC EARNINGS PER SHARE $0.47 $0.26 $0.87 $0.56
DILUTED EARNINGS PER SHARE $0.45 $0.25 $0.83 $0.54
COMMON SHARES OUTSTANDING 6,710 6,620 6,697 6,634
COMMON SHARES ASSUMING DILUTION 7,005 6,892 7,000 6,924
So why is Intel trading at higher multiple than let say IBM??
........... OH WELL SNAKE OIL SELLERS |
