John F, re:<but as of the first quarter of 2001, the majority of these expenses have been allocated to the operating segments. Information for prior periods has been restated to conform to the new presentation.>
Somehow I missed that until you pointed it out.
Here is the amounts of the "restatements":
Item Originally Restated
Q1'00 IAG Profit 3,065 3,006 (from 46.1% revenues to 45.2%)
Q1'00 Other Profit (458) (452) (from -34.1% revenues to -33.7%)
Q1'00 Oper. Profit 2,607 2,554 (HUH? Operating Profit was restated for Q1 of 2000!)
Q4'00 IAG Profit 3,317 3,233 (from 48.4% revenues to 47.2%)
Q4'00 Other Profit (741) (657) (from -40% revenues to -35.5%)
Q4'00 Oper. Profit 2,576 2,576 29.6% of total revenues
Q1'01 IAG Profit 1,683 32.8% of IAG revenues
Q1'01 Other Profit (1041) -67.4% of Other revenues
Q1'01 Oper. Profit 642 9.6% of total revenues
I'm surprised by how small the restatements are, between $50M and $100M a quarter.
I'm surprised Q1'00's operating profit was restated.
How could Intel be losing this much money in their "Other" businesses. In Q4, they must have had about $300M profit on $700M sales for Flash Memory, which means the rest of "Other" lost 957M on 1150M of sales.
I'm still skeptical of the breakdown in expenses between IAG and "Other." In particular, what about Marketing? What about depreciation? Are these expenses just divided according to revenue to make CPG look better?
Petz |
