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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Tony Viola who wrote (53129)	4/14/1998 7:05:00 PM
From: blankmind	Respond to of 186894

from wsj online - they show intc beating estimates April 14, 1998 Intel Profit Declined 36% in Quarter As Chip Prices, Shipments Declined Intel Plans to Cut 3,000 Positions; Results Beat Lowered Expectations By an INTERACTIVE JOURNAL Staff Reporter Intel Corp. said late Tuesday that its quarterly profit dropped 36% from a year ago and said it plans to cut its work force by 3,000 jobs over the next six months. The Santa Clara, Calif., chip giant added that it expects to report second-quarter revenue flat or slightly below first-quarter levels, with gross margin falling a few points to its low spot of the year. Company Profile: Intel For the fiscal first quarter ended March 28, Intel posted net income of $1.27 billion, or 72 cents a diluted share, down from $1.98 billion, or $1.10 a diluted share, in the year-ago period. Profit fell 27% from the fourth quarter. Intel's lower profit also reflected a charge of about $165 million, or nine cents a share, related to its acquisition last year of Chips and Technologies Inc. Ahead of Expectations Excluding the charge, the profit of 81 cents a share beat Wall Street expectations of 72 cents a share. Last month, analysts slashed their earnings outlooks after Intel lowered its revenue and profit expectations for the first quarter, citing weakness in demand from the PC makers that use its chips in their products. Revenue, meanwhile, fell 7% to $6 billion, down from $6.49 billion, but was still better then Intel's prediction last month that it would record revenue of $5.85 billion. Tuesday, ahead of the earnings release, shares of Intel slipped 25 cents to $76 on the Nasdaq Stock Market. In after-hours trading Tuesday, shares of Intel were quoted at $77, according to Instinet. "This was a disappointing quarter," said Andrew S. Grove, chairman and chief executive officer. He added that the personal-computer industry "seems to have gotten ahead of itself, building more product than end-customers purchased." Intel has been hurt by plunging prices and weakening demand for personal computers. Analysts believe Intel is also feeling the effects of competition, particularly for low-priced chips used in PCs priced at less than $1,000. First Big Cuts Since Mid-80s Meanwhile, Intel said most of the planned job cuts would come through attrition, meaning it doesn't expect any charges for the reduction. Intel employs about 60,000. Intel last made similar cuts in the mid-to-late 1980s, when it got out of the memory-chip business to focus on microprocessors. Intel reported that both the number of chips sold and the average selling price fell in the quarter. Chipset units were up in the first quarter from the fourth quarter, but motherboard-unit shipments fell. However motherboard-unit shipments for the Pentium II processor were higher, the company said. Intel said research-and-development spending is expected to be approximately $2.8 billion for 1998, up from $2.3 billion in 1997 and down from previous estimates of $3 billion, the company said. This estimate includes approximately $165 million for in-process R&D associated with the acquisition of Chips and Technologies Inc. Capital spending for 1998 is expected to be approximately $5 billion, up from $4.5 billion in 1997, but down from previous guidance for the year of $5.3 billion. Intel also said it bought back 22.1 million common shares during the quarter for $1.8 billion, bringing to 235.5 million the number of shares Intel has bought back since it started repurchasing its shares in 1990. Return to top of page Copyright c 1998 Dow Jones & Company, Inc. All Rights Reserved.

To: Tony Viola who wrote (53129)	4/14/1998 7:08:00 PM
From: shust	Respond to of 186894

Hey Tony! You probably paid the same price for the new one. Enjoy! shust

To: Tony Viola who wrote (53129)	4/14/1998 7:11:00 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 186894

Hay Tony, What's wrong with chu? A Pentium II 233? You are buying the low end. Intel needs you to buy the high end. Fork out the big bucks for that P II-400! <G> Jim

To: Tony Viola who wrote (53129)	4/14/1998 7:32:00 PM
From: Maverick	Respond to of 186894

Q2 flat or seq. down,Q2 GM lowest for yr at low 50%,GM for yr at low 50%,Q2 expense 5% higher Q1,cut 3K jobs SANTA CLARA, Calif., April 14 (Reuters) - Semiconductor giant Intel Corp. on Tuesday reported a 36 percent drop in first quarter earnings, and said it would cut 3,000 jobs with revenues expected to be flat to slighty lower in the current quarter. The company said its net income fell to $1.3 billion, or 72 cents a share on a diluted basis, from $2 billion, or $1.10 a share, a year earlier. The current quarter included a one-time charge of about $165 million, or 9 cents per share. Intel said its revenues fell to $6.0 billion, down 7 percent from $6.4 billion a year ago. The company said it expected its second-quarter revenues to be flat to slightly lower than the first quarter, but that sequential revenue growth would resume in the second half of the year. The company said its gross profit margin in the second quarter is expected to be down a few points from 54 percent in the first quarter and to be the lowest for the year. Intel said its expectation for its gross margin for all of 1998 is 52 percent "plus or minus" a few points. Intel also said it expected to reduce headcount by about 3,000 people over the next 6 months predominantly through attrition, but also by "localized reductions." The company said it expenses in the second quarter were expected to be about 3 percent to 5 percent higher than first quarter expenses of $1.3 billion. [With this gloomy forward looking statement., I expect INTC to go back to low 70s again. It's probably a good idea to program to sell as market order tonight. Also, INTC has run up recently, ripe for a fall even if the forward statement is upbeat. Buy on the mistery, sell on history]

To: Tony Viola who wrote (53129)	4/14/1998 7:32:00 PM
From: Ibexx	Read Replies (1) \| Respond to of 186894

Tony, Congratulations on your new toy! I am currently eyeing the new HP notebook, packed with all state-of-the-art goodies, yet weighting 3 lbs. Today was good to me, too. Intel did OK--the worst may be over as June qtr trough is already factored in--and my SAPHY went up $11! Regards, Ibexx

To: Tony Viola who wrote (53129)	4/14/1998 8:49:00 PM
From: Tony Viola	Respond to of 186894

I forgot to mention the monitor...Sony Multiscan 200GS. Is that Grand Sport? Talking to myself, like Sonny does. <g> Tony

To: Tony Viola who wrote (53129)	4/14/1998 9:19:00 PM
From: Sonny McWilliams	Read Replies (1) \| Respond to of 186894

Tony. OFF TOPIC. Sorry, just noticed I am on the wrong thread. As soon as this cpt goes on the blink I am in the market for a new one. Then my grand-kids can use this one. I was almost hoping that I could not fix it this time. gg. I am waiting for those new internet lines. This 4.3 GB sounds great. That is my biggest problem. My son and the grandchildren use up a lot of my storage and when I go away I am never sure to what I come back to. I still have this 3 year guarantee on everything on this cpt. It's only 1 1-2 years old but in this fast moving PC market already an antique. gg. It's a Multimedia Intel inside. But it has only 1.2GB and who was to know that this was not enough when I bought it. Did not even know about SI then. I was actually pleased with Intel's report. Expected worse. It should start to move again but I am not sure if it will after the initial up move. All those analysts certainly went through the conf.call with a fine tooth comb and at the end of the day a lot of them decided that it was not that good. Anyhow, that's what I heard last. We will see tomorrow. But things should be moving again for sure after the first half of the year. What a surprise, well maybe not, that Asia was actually better. That could bode well. Sonny PS. Sorry for the schmalz on this thread. Just noticed that I am once again on the main thread. I used your link. Sheesh.