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To: deibutfeif who wrote (132694)	4/17/2001 5:40:50 PM
From: Dan3	Read Replies (2) \| Respond to of 186894

From your link, GAAP earnings: Including acquisition-related costs, in accordance with generally accepted accounting principles, first quarter net income was $485 million, down 82 percent from first quarter of 2000 and down 78 percent sequentially. Earnings per share were $0.07, down 82 percent from $0.39 in the first quarter of 2000 and down 78 percent sequentially. It's so unfair that those danged accountants want you to include the costs of your acquisitions when you include their earnings and profits in your quarterly results. What fussy bunch!

To: deibutfeif who wrote (132694)	4/17/2001 5:45:54 PM
From: Tony Viola	Read Replies (3) \| Respond to of 186894

Here we go. Andy Bryant and Paul Otellini, as usual. Lisa Ansilio, Investor Relations doing the boilerplate. Andy: Q1 essentially consistent with the call a while ago. Business difficult, all geos, all products. IA products stabilized, comm products still hazy. GMs were as predicted, primarily because of the revenue drop. Discretionary spending has been reduced, will continue with that, and reduction of headcount. Didn't say how on the HC yet. Disconnected! Reconnected. Inventories increased $400M to 2+ billion. Too much flash. Microprocessors inventory in acceptable range but high. Cap spending 2.7 billion!!! Ahead of schedule of $7.5B? 6.2 to 6.8B Q2. GM 49% +/-. Lower because of P4 cost higher than PIII. G&A. Deferring some pay increases for individual contributors, delaying all until H2 for (some) management). Non IA business will take longer to recover (later this year). Committed to discretionary spending 5K employees by normal attrition. $7.5B capex, 1/3 already done. Office buildings exp. very low. Mobile 0.13 chips to ship mid-year, P4 0.13 in Q4 Mobile 0.13 chips to ship mid-year, P4 0.13 in Q4 Mobile 0.13 chips to ship mid-year, P4 0.13 in Q4 Mobile 0.13 chips to ship mid-year, P4 0.13 in Q4 My return key stuck!