Subject:
Intel's Barrett Says Sales Are Slow In U.S., Europe
Date:
Tue, 17 Mar 1998 14:24:43 -0800 (PST)
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News Alert from Dow Jones Online News via Quote.com
Topic: (NASDAQ:INTC) Intel Corp,
Quote.com News Item #5793453
Headline: Intel's Barrett Says Sales Are Slow In U.S., Europe
======================================================================
NEW YORK -(Dow Jones)- Intel Corp.'s sales in Europe and the U.S. are
a little slow, said Craig Barrett, the semiconductor giant's president
and chief operating officer, in an interview on CNBC Tuesday.
But the executive wouldn't say whether those sales were slower than
the company anticipated when it issued a first-quarter earnings warning
earlier this month.
Last month, Intel (INTC) warned first-quarter earnings would fall
short of estimates, with revenue slipping 10% from the fourth quarter's
$6.5 billion, as a result of weak near-term demand from the original
equipment manufacturer sector.
Before the warning, First Call mean estimate was 93 cents a share.
Tuesday, it was 72 cents.
While he his business is cyclical, Barrett said, demand for the type
of products Intel makes isn't.
"We're seeing a bit of a slowdown right now," he said. "But I think
most forecasters suggest the overall market for semiconductors, for
computer goods, will increase at a double-digit growth rate for the
foreseeable future."
Intel plans to capitalize on that growth through the introduction of
new products, including a 64-bit microprocessor, Barrett said.
-By Charlene Oldham; 201-938-5173
Copyright (c) 1998 Dow Jones & Company, Inc.
All Rights Reserved. |
