Intel posts surge in yearend profit, sales

08:53, January 15, 2010      

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Intel Corp. on Thursday reported that its profit and sales surged in the fourth quarter of2009, which are seen as further evidence of the improvement of information technology market.

In the most recent quarter, the world's largest computer chip maker posted net income of 2.3 billion U.S. dollars or 40 cents per share, up 875 percent and 36 cents respectively from the year-ago period.

The company's fourth-quarter revenue jumped to 10.6 billion dollars, an increase of 28 percent year-on-year.

Analysts had expected earnings of 30 cents per share and revenue of 10.2 billion dollars for Intel in the quarter, according to Thomson Reuters.

The latest results included 1.25 billion dollars Intel paid in November last year under a settlement agreement with rival Advanced Micro Devices Inc., while the results of previous year included a 1-billion-dollar reduction in the carrying value of its investment.

For the whole year of 2009, Intel posted revenue of 35.1 billion dollars and net income of 4.4 billion dollars, down 7 percent and 17 percent respectively from the previous year.

"Intel's strong 2009 results reflect our investment in industry-leading manufacturing and product innovation," Paul Otellini, the chief executive officer of Intel, said in a statement.

"Our ability to weather this business cycle demonstrates that microprocessors are indispensable in our modern world," he said.

Intel's latest results came a day after market research firms IDC and Gartner reported strong growth of global personal computer(PC) shipments in the last three months of 2009.

The strong growth in PC market benefited Intel as it provided the majority of microprocessors used in computers.

IDC on Wednesday said that global PC shipments increased 15.2 percent in the fourth quarter last year, marking the first quarter of double-digit volume growth since the third quarter of 2008.

Gartner, using different research method, reported that worldwide PC shipments jumped 22.1 percent in the quarter, which the company said was the strongest quarter over quarter growth rate in the last seven years.

"These preliminary results indicate the recovery of the PC market on a global level," said Mikako Kitagawa, principal analyst at Gartner.

But Gartner analysts also noted that the strong growth numbers were compared to a very weak quarter a year ago due to the economic downturn at that time.

Source: Xinhua
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