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Intel posts $8.7B Q3 revenues

Posted: 20 Oct 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Intel? revenue? Q3?

Intel Corp. announced Q3 revenues of $8.7 billion, operating income of $1.4 billion, net income of $1.3 billion and earning per share (EPS) of 22 cents. Excluding the effects of share-based compensation, the company posted operating income of $1.7 billion, net income of $1.5 billion and EPS of 27 cents.

Operating results included a gain of approximately $100 million from the sale of a portion of an investment in Micron Technology, gains from divestitures of approximately $130 million and a restructuring charge of $98 million, the company said.

"We are pleased with the results of the third quarter, with the record mobile and server processor shipments, strong manufacturing execution, industry acclaim for our new products, and quad-core processors now extending our leadership this quarter," said Intel president and CEO Paul Otellini.

According to the press release, gross margin percentage was consistent with the company's expectations in July as the impact of higher microprocessor revenue was offset by a write-off of older processor inventory of approximately $100 million. Expenses were lower than expected primarily due to lower payroll and discretionary spending. Net gains on equity investments and interest and other were higher than forecast due to investment gains and gains on divestitures.

Sequential revenue was above normal seasonal patterns in the Americas, EMEA and Japan regions following a lower-than-seasonal Q2 for the company. Microprocessor unit sales were higher than seasonally normal off a low second quarter base, and pricing remained competitive, notably in the desktop segment.

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