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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Goutam who wrote (75522)	10/14/1999 3:55:00 PM
From: greg nus	Read Replies (1) \| Respond to of 1572594

Paul, What gives? Is independent thinking making a comeback? For Shame, Intel Reports Funny Earnings: David Pauly (Correct) New York, Oct. 13 (Bloomberg) -- Intel Corp., of all people, is fudging its numbers. Apparently unable to bear the public shame of reporting that its profit dropped 6.5 percent in the third quarter, the world's biggest maker of microprocessors yesterday resorted to the new funny earnings game that inflates profits by trying to ignore the cost of acquisitions. For shame. Intel has been a model corporation whose stock was looked on as a market leader. This has been a company that won the world's admiration by doubling the power of its microprocessors every 18 to 24 months and bringing prices down at the same time. Intel Chairman Andrew Grove has played the role of semiconductor industry statesman. The past perfect tense may be appropriate. Here's the truth about Intel's third quarter, according to generally accepted accounting principles. Profit dropped to $1.5 billion, or 42 cents a share, from $1.6 billion, or 44 cents a share, in the same 1998 period. Computer chip prices fell faster than Intel had figured in the quarter while the cost of new manufacturing facilities was rising. Apparently D Pauly felt compelled to tell the truth. Of course some of us here know, you can't handel the truth. Another negavite News article about Intel, bound to "have them bouncing of the Walls" again.