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Intel ups Q1 earnings despite losses in non-MPU business

Posted: 13 May 2005 ?? ?Print Version ?Bookmark and Share

Keywords:processors? chips for notebook pcs? cellular phones? mpu?

Intel Corp. updated its first-quarter results, boosting its net income by a penny a share despite huge losses in its non-microprocessor businesses, according to Reuters.

Intel reduced its tax bill by $24 million in the first quarter, according to the report, which cited documents filed within the U.S. Securities and Exchange Commission (SEC). This, in turn, increased its net income by a penny per share above the level it reported on April 19, according to the report.

As a result, its first-quarter earnings have been adjusted to $0.35 a share, up from $0.34 a share, according to the report.

In April, amid a plan to boost its capital spending in 2005, Intel reported first-quarter revenue of $9.4 billion, up 17 percent year-over-year and down 2 percent sequentially. First-quarter net income was $2.2 billion, up 25 percent year-over-year and up 1 percent sequentially.

In the new filing, Intel for the first time also broke out its results within its new business units.

Intel's digital enterprise group, which makes processors and related chips for desktop PCs, reported operating income of $2.36 billion in the first quarter, down from $2.45 billion in the same period last year, according to the report.

The mobility group, which includes processors and chips for notebook PCs and cellular phones, reported a $1.10 billion operating income, more than double the $405 million from a year earlier, the report said.

"A third group that includes all other business, including the company's early initiatives in healthcare and digital home entertainment, had an operating loss of $432 million, wider than a loss of $377 million in the same period last year," the report said.

- EE Times

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