Here we go. Andy Bryant and Paul Otellini, as usual. Lisa Ansilio, Investor Relations doing the boilerplate.
Andy: Q1 essentially consistent with the call a while ago. Business difficult, all geos, all products.
IA products stabilized, comm products still hazy.
GMs were as predicted, primarily because of the revenue drop.
Discretionary spending has been reduced, will continue with that, and reduction of headcount. Didn't say how on the HC yet.
Disconnected! Reconnected.
Inventories increased $400M to 2+ billion. Too much flash. Microprocessors inventory in acceptable range but high. Cap spending 2.7 billion!!! Ahead of schedule of $7.5B?
6.2 to 6.8B Q2. GM 49% +/-. Lower because of P4 cost higher than PIII. G&A. Deferring some pay increases for individual contributors, delaying all until H2 for (some) management).
Non IA business will take longer to recover (later this year).
Committed to discretionary spending 5K employees by normal attrition.
$7.5B capex, 1/3 already done.
Office buildings exp. very low.
Mobile 0.13 chips to ship mid-year, P4 0.13 in Q4
Mobile 0.13 chips to ship mid-year, P4 0.13 in Q4
Mobile 0.13 chips to ship mid-year, P4 0.13 in Q4
Mobile 0.13 chips to ship mid-year, P4 0.13 in Q4
My return key stuck! |
