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

To: Joseph Pareti who wrote (66727)	10/15/1998 3:29:00 AM
From: Gordon Hodgson	Respond to of 186894

Intel Says Lower Dollar to Spur European PC Sales. Story below customnews.cnn.com Oct. 15, 1998 >> 3:22 am EDT Gordon Hodgson's Intel Says Lower Dollar to Spur European PC Sales Reuters 14-OCT-98 MUNICH, Germany, Oct 14 (Reuters) - Intel Corp said on Wednesday it expected recent weakness in the U.S. dollar to spur PC sales in an already booming European market. The dollar's fall-- to 1.64 marks from 1.80 marks at the end of August-- is allowing U.S. suppliers of personal computers to offer even more attractively priced machines, Greg Pearson, head of Intel Europe, told Reuters. "In general I think that has helped PC demand. It's really going to be a field day for consumers for the next few months," he said in an interview. On Tuesday, Intel reported third quarter sales rose nine percent worldwide to $6.73 billion, while net profit was slightly lower at $1.56 billion. Earnings per share were higher than expected, improving one cent to 89 cents per share. In Europe, Intel saw a boom in the quarter. Sales in the region grew 18.2 percent to approximately $1.75 billion, according to Reuters' calculations based on data from Intel. Sales rose 7.1 percent to $3.16 billion in the Americas and 15.4 percent to $1.35 billion in Asia, the calcuations showed. Sales in Japan fell 14.8 percent to $471 million. While Intel forecast worldwide sales would be "slightly higher" in the fourth quarter than in the third quarter, Pearson said he was "optimistic" about European sales. "A few months ago we didn't anticipate the strength we are seeing today," Pearson said. In the third quarter, European sales remained strong through the summer months, especially in the consumer segment. "Normally we have a summer slowdown but it never came in Europe. We were extremely surprised with the back-to-school growth in Britain and France," he said. In August, British retail sales rose 99 percent from July. In France they were up 84 percent, he said. Copyright 1998 Reuters Limited.All rights reserved. © 1998 Cable News Network, Inc. A Time Warner Company All Rights Reserved. Terms under which this information is provided to you. Read our privacy guidelines. Custom News is built on technology.