To: stock bull who wrote (117153 ) 4/13/1999 5:30:00 PM From: Mohan Marette Read Replies (2) | Respond to
Sb: Regarding Intel- There is nothing disastrous in the report see this,pundits comments notwithstanding. Intel Posts Earnings Just Above Forecasts The Santa Clara, Calif.-based company said its first quarter net income climbed to $2.0 billion, or 57 cents a share, from $1.3 billion, or 36 cents, a year ago. Revenues rose to $7.1 billion from $6.0 billion. The earnings, adjusted for a stock split, compared with the Wall Street consensus of 55 cents, according to First Call Corp. In January, Intel had forecast that its first quarter revenues would be flat to down versus its fourth quarter revenues of $7.6 billion, in part because of typical seasonal slowness. ''As we expected, revenue declined from the prior quarter reflecting a seasonally slower selling period,'' Intel Chief Executive Craig Barrett said in a statement. ''We are seeing positive results from the launch of new products across all segments,'' he said, citing the introduction of the Pentium III and Pentium III Xeon chips, and higher-speed Celeron and mobile Pentium II processors. Intel said its gross margin percentage in the second quarter is expected to be about flat with 59 percent in the first quarter. The company said expenses in the second quarter of 1999 were expected to be about 6 percent to 10 percent higher than first quarter expenses of $1.6 billion.
