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To: Don Green who wrote (86043)	4/15/2003 10:48:30 PM
From: Don Green	Respond to of 93625

Intel Meets Lowered Views, Sounds Cautious Note 15 Apr 03 A Wall Street Journal Online News Roundup NEW YORK -- Intel Corp.'s (INTC) first-quarter sales shrank slightly as the company coped with weak demand for its flash-memory chips, putting results in line with the semiconductor giant's lowered guidance. The company also said it sees "continuing uncertainty" in coming quarters. Intel reported results after the close of trading Tuesday. At 4 p.m. EDT on the Nasdaq Stock Market, shares were down three cents to $17.13. In after-hours trading, shares were at $17.48. The Santa Clara, Calif., semiconductor maker Tuesday posted first-quarter net income of $915 million, or 14 cents a share, compared with $936 million, or 14 cents a share, in the same period last year. Analysts surveyed by Thomson First Call were expecting a profit of 12 cents a share. Revenue slipped to $6.75 billion from $6.78 billion in the same quarter last year, about the midrange of the company's own expectations. In March, Intel forecast first-quarter revenue between $6.6 billion and $6.8 billion. At the time, the company warned that profits would be squeezed by slower sales of flash-memory chips, which are used to store data in products such as cellphones. Intel's aggressively high prices on those chips encouraged customers to buy from competitors. In Intel's press release Tuesday, Chief Executive Craig Barrett confirmed sales of flash chips were soft, but said the company's computer chips performed strongly. "Our financial performance for the quarter was solid, with our computing-related business performing better than expected and our flash business coming in below expectations," he said in prepared remarks. However, the company said Tuesday that "continuing uncertainty in global economic conditions makes it particularly difficult to predict product demand and other related matters." Intel pegs second-quarter revenue between $6.4 billion and $7 billion. Sales totaled $6.32 billion in the second quarter last year. The company plans to hold a midquarter update June 5. During the first quarter, Intel launched a new line of chips called Centrino, which it hoped would give a boost to laptop computer sales. Centrino is designed to stretch out battery life and help notebook computers connect easily to wireless networks. Intel has suffered along with other technology companies from "upgrade fatigue," or consumers' and corporate customers' reluctance to upgrade their desktop and server hardware. (END) Dow Jones Newswires