Intel Reports First Quarter Revenue of $6.7 Billion
4/17/01 4:20 PM ET
SANTA CLARA, Calif.--(BUSINESS WIRE)--April 17, 2001--
First Quarter Earnings Excluding Acquisition-Related Costs(1)
$0.16 Per Share; First Quarter Earnings Per Share $0.07
-- Intel Investor Relations Web site: www.intc.com
-- Q1 earnings announcement call live on Web site at 2:30 p.m.
PDT
-- Conference call replay number 719/457-0820; access No. 601126
-- Replay available shortly after end of conference call through
April 24
Intel Corporation today announced first quarter revenue of $6.7
billion, down 16 percent from the first quarter of 2000 and down 23
percent sequentially.
For the first quarter, net income, excluding acquisition-related
costs, was $1.1 billion, down 64 percent from the first quarter of
2000 and down 58 percent sequentially. First quarter earnings,
excluding acquisition-related costs, were $0.16 per share, a decrease
of 63 percent from $0.43 in the first quarter of 2000 and down 58
percent sequentially. Last year's first quarter earnings per share
includes a reversal of previously accrued taxes that reduced that
quarter's tax provision by $600 million, and improved first quarter
2000 results by $0.09 per share. The reversal was related to the
company's previous announcement that the Internal Revenue Service had
closed its examination of the its tax returns up to and including
1998.
Including acquisition-related costs, in accordance with generally
accepted accounting principles, first quarter net income was $485
million, down 82 percent from first quarter of 2000 and down 78
percent sequentially. Earnings per share were $0.07, down 82 percent
from $0.39 in the first quarter of 2000 and down 78 percent
sequentially.
Acquisition-related costs in the first quarter consisted of $75
million in one-time charges for purchased in-process research and
development and $585 million of amortization and write-offs of
goodwill and other acquisition-related intangibles and costs.
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