SANTA CLARA, Calif. — (BUSINESS WIRE) — April 14, 2009 — Intel Corporation today reported first-quarter revenue of $7.1 billion, operating income of $670 million, net income of $647 million and earnings per share (EPS) of 11 cents.
“We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns," said Paul Otellini, Intel president and CEO. “Intel has adapted well to the current economic environment and we’re benefiting from disciplined execution and agility. We’re delivering a product portfolio that meets the needs of the changing market, spanning affordable computing to high-performance, energy-efficient computing."
|Quarterly Results Summary|
|Q1 2009||vs. Q1 2008||vs. Q4 2008|
|Operating Income||$670 million||-68%||-56%|
|Net Income||$647 million||-55%||+176%|
Q4 2008 results included a net loss from equity investments of $1.1 billion, primarily due to a billion-dollar reduction in the carrying value of the company’s investments in Clearwire.
Key Financial Information
Intel’s Business Outlook does not include the potential impact of any mergers, acquisitions, divestitures or other business combinations that may be completed after April 13. Current uncertainty in global economic conditions makes it particularly difficult to predict product demand and other related matters and makes it more likely that Intel’s actual results could differ materially from expectations. Consequently, the company is providing less quantitative guidance than in previous quarters.
Status of Business Outlook
During the quarter, Intel’s corporate representatives may reiterate the Business Outlook during private meetings with investors, investment analysts, the media and others. From the close of business on May 29 until publication of the company’s second-quarter earnings release, Intel will observe a “Quiet Period” during which the Business Outlook disclosed in the company’s press releases and filings with the SEC should be considered to be historical, speaking as of prior to the Quiet Period only and not subject to an update by the company.