A Intel (INTC.O) anuncia hoje os resultados do 3º trimestre,
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Intel Profit Rises 15%, Slowest Pace in Five Quarters (Update3)
Oct. 12 (Bloomberg) -- Intel Corp. said third-quarter profit rose 15 percent, the slowest pace in five quarters, as a record stockpile of computer chips prompted the company to cut prices and slow production.
Net income rose to $1.91 billion, or 30 cents a share, from $1.66 billion, or 25 cents, a year earlier, Intel, the world's biggest semiconductor maker, said in a statement. Sales rose 8.1 percent to $8.47 billion, in line with the Santa Clara, California-based company's reduced forecast.
Intel is reducing inventory that ballooned to $3.2 billion in the second quarter amid falling demand from personal computer makers, Chief Financial Officer Andy Bryant said. The backlog will decline this quarter as customers pare their own stockpiles, he said. The company spent $26 billion in the past four years to speed up production, only to slow output last quarter.
``Management is attacking inventory and that's the big issue,'' said Daniel Morgan, who helps manage $6 billion, including Intel shares, at Synovus Investment Advisors in St. Petersburg, Florida. ``Intel's taking strides to reduce it and that's construed as a positive.''
Shares of Intel rose 72 cents to $21 in extended trading after the announcement. They earlier fell 33 cents to $20.28 in Nasdaq Stock Market trading. The stock is the worst performer this year in the Dow Jones Industrial Average, after climbing more than any Dow company in 2003.
``We've begun to clean up some of the problems we've had,'' Bryant, 54, said in a telephone interview. Intel, which had forecast inventory would rise in the quarter, cut the stockpile by $43 million.
Barometer
Intel's semiconductors, microprocessors that work as the engine for computers, power more than 80 percent of the world's PCs. Seen as a barometer for technology spending because of its reach, Intel is the first major computer-related company to release third-quarter results and give a forecast for the fourth quarter.
Results from Intel will be followed this week and next by companies including International Business Machines Corp., Microsoft Corp. and Texas Instruments Inc. Royal Philips Electronics NV, Europe's No. 3 chipmaker, today said fourth- quarter chip sales in U.S. dollar terms will be about ``flat'' from the third.
Slowing Production
Excess inventory weighed on gross margin, or the percentage of sales left after deducting production costs. Intel wrote down the value of its inventory in all its businesses. The company didn't say by how much.
Two large customers had lower-than-expected orders and U.S. retail demand was ``disappointing,'' Intel said.
``Growth was not as high as we originally anticipated due to inventory adjustments at some of our major customers and lower- than-expected overall demand for PCs,'' Intel Chief Executive Craig Barrett, 65, said in the statement.
Before a tax benefit, Intel earned 27 cents a share in the third quarter, in line with the average estimate of 26 analysts surveyed by Thomson Financial.
The margin for the quarter was 55.7 percent, lower than the company forecast and the narrowest since the second quarter of 2003. The margin will be 56 percent plus or minus a couple of percentage points this quarter, Intel said.
Revenue in the fourth quarter will be $8.6 billion to $9.2 billion, Intel said. Analysts had predicted fourth-quarter sales would be $9.07 billion, based on a Thomson Financial survey.
Slower Production
The company slowed production at some of its 13 plants from Ireland to New Mexico in the third quarter and may cut production ``aggressively'' this quarter and next, San Francisco-based Credit Suisse First Boston analyst Michael Masdea said in research note yesterday. Intel may also cut spending on new plants, he said.
New plants that use 300-millimeter wafers are not ``fully loaded,'' Bryant said on a conference call with analysts. Work in progress has been cut by about $150 million and the company will probably have expenses related to the slowdown in production, he said.
Price reductions of as much as 35 percent in August -- the fourth time this year Intel has slashed prices at least 30 percent -- didn't spur demand, executives said.
Before the results, analysts predicted third-quarter sales would be $8.45 billion, based the average of 26 estimates surveyed by Thomson Financial. Intel in September reduced its sales forecast for the third quarter to $8.3 billion to $8.6 billion, from $8.6 billion to $9.2 billion.
Intel postponed or canceled five products in 2004, hurting results. The company the next version of its best-selling Pentium chip by as much as three months and was forced to recall some of its Grantsdale chipset.
The operating loss in the communications group widened to $251 million from $208 million a year earlier.
Operating income in the Intel Architecture group, the company's main microprocessor business, fell to $2.79 billion from $2.9 billion a year earlier.
for listen-only access. The conference call ID number is 163506)
To contact the reporters on this story:
Ian King in San Francisco at ianking@bloomberg.net
To contact the editor of this story:
Emma Moody at emoody@bloomberg.net.
Last Updated: October 12, 2004 18:42 EDT
Oct. 12 (Bloomberg) -- Intel Corp. said third-quarter profit rose 15 percent, the slowest pace in five quarters, as a record stockpile of computer chips prompted the company to cut prices and slow production.
Net income rose to $1.91 billion, or 30 cents a share, from $1.66 billion, or 25 cents, a year earlier, Intel, the world's biggest semiconductor maker, said in a statement. Sales rose 8.1 percent to $8.47 billion, in line with the Santa Clara, California-based company's reduced forecast.
Intel is reducing inventory that ballooned to $3.2 billion in the second quarter amid falling demand from personal computer makers, Chief Financial Officer Andy Bryant said. The backlog will decline this quarter as customers pare their own stockpiles, he said. The company spent $26 billion in the past four years to speed up production, only to slow output last quarter.
``Management is attacking inventory and that's the big issue,'' said Daniel Morgan, who helps manage $6 billion, including Intel shares, at Synovus Investment Advisors in St. Petersburg, Florida. ``Intel's taking strides to reduce it and that's construed as a positive.''
Shares of Intel rose 72 cents to $21 in extended trading after the announcement. They earlier fell 33 cents to $20.28 in Nasdaq Stock Market trading. The stock is the worst performer this year in the Dow Jones Industrial Average, after climbing more than any Dow company in 2003.
``We've begun to clean up some of the problems we've had,'' Bryant, 54, said in a telephone interview. Intel, which had forecast inventory would rise in the quarter, cut the stockpile by $43 million.
Barometer
Intel's semiconductors, microprocessors that work as the engine for computers, power more than 80 percent of the world's PCs. Seen as a barometer for technology spending because of its reach, Intel is the first major computer-related company to release third-quarter results and give a forecast for the fourth quarter.
Results from Intel will be followed this week and next by companies including International Business Machines Corp., Microsoft Corp. and Texas Instruments Inc. Royal Philips Electronics NV, Europe's No. 3 chipmaker, today said fourth- quarter chip sales in U.S. dollar terms will be about ``flat'' from the third.
Slowing Production
Excess inventory weighed on gross margin, or the percentage of sales left after deducting production costs. Intel wrote down the value of its inventory in all its businesses. The company didn't say by how much.
Two large customers had lower-than-expected orders and U.S. retail demand was ``disappointing,'' Intel said.
``Growth was not as high as we originally anticipated due to inventory adjustments at some of our major customers and lower- than-expected overall demand for PCs,'' Intel Chief Executive Craig Barrett, 65, said in the statement.
Before a tax benefit, Intel earned 27 cents a share in the third quarter, in line with the average estimate of 26 analysts surveyed by Thomson Financial.
The margin for the quarter was 55.7 percent, lower than the company forecast and the narrowest since the second quarter of 2003. The margin will be 56 percent plus or minus a couple of percentage points this quarter, Intel said.
Revenue in the fourth quarter will be $8.6 billion to $9.2 billion, Intel said. Analysts had predicted fourth-quarter sales would be $9.07 billion, based on a Thomson Financial survey.
Slower Production
The company slowed production at some of its 13 plants from Ireland to New Mexico in the third quarter and may cut production ``aggressively'' this quarter and next, San Francisco-based Credit Suisse First Boston analyst Michael Masdea said in research note yesterday. Intel may also cut spending on new plants, he said.
New plants that use 300-millimeter wafers are not ``fully loaded,'' Bryant said on a conference call with analysts. Work in progress has been cut by about $150 million and the company will probably have expenses related to the slowdown in production, he said.
Price reductions of as much as 35 percent in August -- the fourth time this year Intel has slashed prices at least 30 percent -- didn't spur demand, executives said.
Before the results, analysts predicted third-quarter sales would be $8.45 billion, based the average of 26 estimates surveyed by Thomson Financial. Intel in September reduced its sales forecast for the third quarter to $8.3 billion to $8.6 billion, from $8.6 billion to $9.2 billion.
Intel postponed or canceled five products in 2004, hurting results. The company the next version of its best-selling Pentium chip by as much as three months and was forced to recall some of its Grantsdale chipset.
The operating loss in the communications group widened to $251 million from $208 million a year earlier.
Operating income in the Intel Architecture group, the company's main microprocessor business, fell to $2.79 billion from $2.9 billion a year earlier.
for listen-only access. The conference call ID number is 163506)
To contact the reporters on this story:
Ian King in San Francisco at ianking@bloomberg.net
To contact the editor of this story:
Emma Moody at emoody@bloomberg.net.
Last Updated: October 12, 2004 18:42 EDT
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Visitante
Sim influênciaram
A Intel subiu bem no after e os futuros do NAS abriram em forte ALTA de 0,63%(9pontos)
Prevê-se um dia mau para quem previa a queda e abertura do NAS em gapdown
Poderes ocultos dominam as bolsas , é a vida!
Prevê-se um dia mau para quem previa a queda e abertura do NAS em gapdown
Poderes ocultos dominam as bolsas , é a vida!
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Latto
Se for isso.....
Significa que não são os resultados actuais que contam, sim as prespectivas futuras e esses dados são fácilmente manipuláveis. Vamos ter aqui uma base de especulação para cima ou para baixo consoante o interesse eleitoral .É a minha opinião que até pode estar quilométricamente errada
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Latto
A Intel (INTC.O) anuncia hoje os resultados do 3º trimestre,
A Intel (INTC.O) anuncia hoje os resultados do 3º trimestre, estimando a média do mercado um crescimento das receitas entre 3% e 7% ($8.3 biliões e $8.6 biliões) e uma estagnação nas "memórias flash". O principal enfoque será na evolução dos inventários e nas perspectivas das vendas e na margem bruta para o 4º trimestre.
LJ Carregosa SA
LJ Carregosa SA
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