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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (562)	10/16/2001 5:09:32 PM
From: Sam	Respond to of 99280

Intel says sales may fall further By Chris Kraeuter, CBS.MarketWatch.com Last Update: 4:42 PM ET Oct. 16, 2001 SANTA CLARA, Calif. (CBS.MW) -- Intel, the world's largest chipmaker, reported a 96 percent drop in net income during the third quarter as sales slid 25 percent to $6.5 billion. The chipmaker said its revenue could continue to decline to as low as $6.2 billion or be as high as $6.8 billion during the fourth quarter. Analysts had expected fourth-quarter revenue of $6.93 billion. The company said in a statement: "Continuing uncertainty in global economic conditions makes it particularly difficult to predict product demand and other related matters." For the quarter ended in September, Intel reported net income of $106 million, or 2 cents a share, on revenue of $6.5 billion. During the same quarter last year, net income was $2.5 billion, or 36 cents a share, on revenue of $8.7 billion. Excluding restructuring charges, pro forma net income was $655 million, or 10 cents a share. During the same quarter last year, pro forma net income was $2.9 billion, or 41 cents a share. Analysts expected earnings excluding charges of 10 cents a share on revenue of $6.4 billion. Ahead of the news, shares (INTC: news, chart, profile) ended up 58 cents to $24.96. Chris Kraeuter is a reporter for CBS.MarketWatch.com in San Francisco.