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Intel First Quarter Revenue $Us8.1 Billion

Intel First Quarter Revenue $Us8.1 Billion

Intel Corporation has announced first quarter revenue of $US8.1 billion, down 7 percent sequentially and up 20 percent year-over-year.

First quarter net income was $US1.7 billion, down 20 percent sequentially and up 89 percent year-over-year. Earnings per share were US26c, down 21 percent sequentially and up 86 percent from US14c in the first quarter of 2003.

“Intel’s first quarter results showed healthy growth in both revenue and earnings compared to a year ago, led by improvement in worldwide IT spending,” said Craig R. Barrett, Intel chief executive officer. “We ramped our 90 nm process into high volume with the launch of several new desktop processors, and plan to substantially increase shipments in the second quarter including our first mobile and server products. The combination of these products plus new processors and platform innovations coming over the course of this year positions us well for continued growth.”
Business Outlook

The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements do not include the potential impact of any mergers, acquisitions, divestitures or other business combinations that may be completed after April 13, 2004.

** Revenue in the second quarter is expected to be between $US7.6 billion and $US8.2 billion. ** Expenses (R&D plus MG&A) in the second quarter are expected to be approximately $US2.4 billion, higher than $US2.34 billion in the first quarter primarily due to annual wage increases that took effect on April 1. ** The R&D spending expectation for 2004 is unchanged at approximately $US4.8 billion.

First Quarter Review And Recent Highlights (Summary)

For the desktop, Intel introduced the first microprocessors manufactured on the company’s 90 nm, 300 mm process technology. Formerly code-named Prescott, the new Pentium® 4 processors are available in a variety of speeds and include a 1 MB second-level (L2) cache memory along with new performance-enhancing software instructions. Most of these processors also include Intel’s Hyper-Threading (HT) Technology. The company also introduced the 3.4 GHz Pentium® 4 processor Extreme Edition, which provides 2.5 MB of cache memory for today’s most demanding PC applications, along with a 3.4 GHz version of the company’s Pentium 4 processor with HT technology, both manufactured on 130 nm technology.

In mobile, Intel has begun shipping the company’s first 90 nm microprocessor for mobile PCs, code-named Dothan, with an industry launch scheduled for May. The company increased the performance of its low-voltage and ultra-low-voltage Pentium® M processors for thin-and-light notebook PCs. The company also increased the speed of the Celeron® M processor to 1.4 GHz and boosted the speed of the ultra-low-voltage version of the processor to 900 MHz.

Intel announced that beginning in the second quarter it will introduce a new naming convention for its desktop and mobile microprocessors. The processor brand name will be accompanied by a processor number that represents the technical features of the product, including design architecture, clock frequency, cache size, bus speed and other technologies.

For the enterprise, the company introduced the Intel® Xeon™ processor MP running at 3 GHz and featuring 4 MB of L3 cache memory. Intel also introduced 2.2 GHz and 2.7 GHz MP versions of the product with 2 MB of cache, along with a 3.2 GHz Intel Xeon processor with 2 MB of cache for 1- and 2-way servers. The company introduced the Intel® Server Compute Blade SBX44 for 4-way blade servers along with the Intel® E7210 chipset, which brings new reliability features to Pentium 4 processor-based servers. Intel broadened the Itanium® 2 processor family by introducing 1.4 GHz and 1.6 GHz processors designed to enable affordable dual-processor systems. Customers adopting the Itanium 2 processor during the quarter included Audi, Bank Lippo of Indonesia, Chengdu Railway Bureau and Samsung Electronics.

For mobile phones and PDAs, the company introduced the Intel® PXA27x family of application processors, formerly code-named “Bulverde.” The processors integrate Intel® Wireless MMX™ technology for advanced 3-D gaming and video, along with the Wireless Intel® SpeedStep® Power Manager technology. The company discussed its next-generation baseband processor family, code-named Hermon, which includes a dual-mode processor for the UMTS and wide-band CDMA “3G” networks. Intel and Sony Music Entertainment introduced an application for Intel-based phones and PDAs that allows users to access short music videos and other entertainment content.

ENDS

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