Intel CFO saw some "good signs" in end of 1st qtr
Tuesday April 17, 4:53 pm Eastern Time
Intel CFO saw some "good signs" in end of 1st qtr
SAN FRANCISCO, April 17 (Reuters) - Despite a 64 percent profit slump in the latest quarter, Intel Corp.(NasdaqNM:INTC - news), the world's largest computer chip maker, saw some ``good signs toward the end of the quarter,'' the company's chief financial officer said on Tuesday, expressing confidence the second half would be strong.
``In our microprocessor business, given what we saw happening in March gives us a lot more comfort that we'll have a pretty normal second quarter and a seasonally strong second half of the year,'' Intel's Chief Fianancial Officer Andy Bryant told Reuters in an interview.
``The first quarter was difficult at best,'' Bryant said. ``In March we saw a return to the time when customers started ordering new product again.''
Intel on Tuesday reported first-quarter profits before acquisition-related charges fell 64 percent to $1.1 billion, or 16 cents a share, from $3.04 billion, or 43 cents, a year ago. Sales fell 16 percent to $6.68 billion from $7.99 billion.
The results slightly exceeded the consensus analyst forecast of 15 cents a share, according to Thomson Financial/First Call. |
