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Technology Stocks : Intel Corporation (INTC)
INTC 35.96+4.2%2:04 PM EST
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To: Scarecrow who wrote (56919)6/3/1998 6:52:00 PM
From: Zanga56  Read Replies (2) of 186894
 
SAN FRANCISCO, June 3 (Reuters) - Intel Corp said that it
does not plan to issue any statement today on its second
quarter financials and that its previous guidance for its
second quarter earnings to Wall Street has not changed.
"At this point, I can say that we do not have anything
planned for today," said Intel spokesman Howard High, when
asked about the rumors on Wall Street that Intel might
pre-announce a second quarter earnings shortfall.
"I am not aware of any plans to change our guidance," High
said. "At this point in time, we don't have anything scheduled
to change that (previous guidance)."
On April 14, when Intel reported first quarter earnings, it
said that it expected its second quarter revenues to be flat to
slightly down with its first quarter revenues of $6.0 billion.
The company also said that it expected sequential revenue
growth to begin in the second half of 1998.
The Santa Clara, Calif.-based chip giant also said that its
gross margin percentage in the second quarter is expected to be
down a few points from 54 percent of revenues in the first
quarter. Intel said that its gross margins will reach their
lowest level for the year in the second quarter.
According to First Call, the consensus second quarter
earnings estimate among analysts surveyed is $0.70 a share.
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