Staff WritersIntel had a record quarter for revenue reaching just shy of US$10 billion in sales for the three months ending 30 September.
Net income worked out to US$2 billion, up 5 percent year-over-year and down 2 percent sequentially, but operating income was US$3.1 billion, which is up 31 per cent year-on-year and 17 per cent sequentially. Revenues were US$9.96 billion for the third quarter, up 18 percent year-over-year and up 8 percent sequentially.
The company would have been even closer to the US$10 billion had it not been for a patent infringement settlement with MicroUnity Inc. which cost the company US$300 million – recording a preliminary $140-million charge to third-quarter cost of sales, which reduced earnings per share by approximately 2 cents.
The remaining $160 million represents the value of intellectual property assets that are expected to be amortized over approximately 10 years.
“In the third quarter, we achieved all-time records in company revenue and unit shipments across all of our major product lines,” said Paul Otellini, Intel president and CEO. “Execution remained solid as we launched our new dual-core server platform ahead of schedule and began shipping microprocessors built on our industry-leading 65nm process technology. The combination of our 65nm manufacturing network, broad range of new dual-core processors and unique ability to provide platform solutions positions us well for continued growth.”
See all the results here.