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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Jim Willie CB who wrote (50083)4/16/2002 4:40:09 PM
From: Dealer  Read Replies (1) of 65232
 
Intel's Profit in Line with Forecasts

SANTA CLARA, Calif. (Reuters) - Intel Corp. on Tuesday reported first-quarter earnings down slightly from a year ago, suggesting that its profit declines are nearing an end. The world's largest chipmaker also forecast a wide second-quarter revenue range of $6.4 billion to $7.0 billion.

Santa Clara, California-based Intel said net income before acquisition-related charges was $1.0 billion, or 15 cents a share, compared with year-ago profit before charges of $1.1 billion, or 16 cents a share. Revenue rose to $6.8 billion from $6.68 billion.

On that basis, the results were in line with the 15 cents a share analysts polled by research firm Thomson Financial/First Call had forecast. Estimates ranged from 13 cents to 16 cents a share and revenue was forecast at $6.79 billion.

Analysts had forecast second-quarter earnings of 15 cents a share, within a range of 11 cents to 18 cents, on revenue of $6.67 billion, a decline of about 1.8 percent from first-quarter levels.

Shares of Intel rose $1.34 to $29.45 on the Nasdaq before results were released, which came after the close of regular U.S. trading. The stock has declined 6.4 percent this year, compared with a 16 percent rise in the Philadelphia Semiconductor Index
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