Actually, Intel only earned $106 million in 3Q01, after restructuring charges, not $787 million. Since Paul keeps using AMD's loss of $189 million after charges to shut down two older fabs, we need to keep him honest to use Intel's corresponding number. The additional $295 million of profit shows how well they did with their additional $5.7 billion in revenues.
rd.yahoo.com*http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7B4AC936C5%2DF69A%2D487B%2DABB1%2D9584A1CC095A%7D
"For the quarter ended in September, Intel reported net income of $106 million, or 2 cents a share, on revenue of $6.5 billion. During the same quarter last year, net income was $2.5 billion, or 36 cents a share, on revenue of $8.7 billion.
Excluding restructuring charges, pro forma net income was $655 million, or 10 cents a share. During the same quarter last year, pro forma net income was $2.9 billion, or 41 cents a share"
Let's see, revenues were down $2.5 billion from last year and net income was down $2.394 billion from last year. I think I see a correlation here.
As far as spendable income, if their stockholder's equity decreased by $4 billion, that is their decrease in spendable income, as you need to include the effect on current and retained earnings.
Now THAT is GAAP accounting.
CB |
