To: Brasco One who wrote (32372 ) 4/13/1999 4:32:00 PM From: Diamond Jim Read Replies (1) | Respond to of 86076
Intel First Quarter Revenue $7.1 Billion Earnings Per Share $0.57 (Adjusted for 2-for-1 Split) Revenue Up 18% and EPS Up 58% from First Quarter 1998 All of the share and per-share amounts in this release have been adjusted to reflect the 2:1 stock distribution that was paid April 11, 1999 to stockholders of record on March 23, 1999. Q1 earnings announcement call live at www.intc.com at 2:30 p.m. PST. Replay available shortly after conclusion of conference call. SANTA CLARA, Calif., April 13, 1999 - Intel Corporation announced first quarter revenue of $7.1 billion and earnings of $2.0 billion or $0.57 per share, adjusted for the 2-for-1 stock split paid on April 11, 1999. Early in the second quarter, Intel shipped its 100 millionth microprocessor based on the P6 microarchitecture. First quarter revenue of $7.1 billion was up 18 percent from first quarter 1998 revenue of $6.0 billion. First quarter revenue was down 7 percent from fourth quarter 1998 revenue of $7.6 billion. Net income in the first quarter was $2.0 billion, up 57 percent from first quarter 1998 net income of $1.3 billion. Net income in the first quarter was down 3 percent from fourth quarter 1998 net income of $2.1 billion. First quarter earnings per share of $0.57 increased 58 percent from $0.36 in the first quarter of 1998. Earnings per share in the first quarter declined 3 percent from $0.59 in the fourth quarter of 1998. All of the share and per-share amounts in this release have been adjusted to reflect the 2-for-1 stock distribution that was paid April 11, 1999 to stockholders of record on March 23, 1999. "We are pleased with our substantial year over year growth in profitability resulting from our cost control efforts. As we expected, revenue declined from the prior quarter reflecting a seasonally slower selling period," said Dr. Craig R. Barrett, president and chief executive officer. "We are seeing positive results from the launch of new products across all segments, including the introductions of the Pentium® III and Pentium III Xeon™ processors and higher speed Intel® Celeron™ and mobile Pentium II