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Intel Corporation Message Board

  • wallisweaver wallisweaver Jan 18, 2013 12:22 AM Flag

    Q4 Earnings: CFO Comments

    "The fourth quarter came in consistent with our expectations for 2012."

    [Exactly. Exactly. It was a bit better than what was expected but pretty much on course. Only those who don't know enough to have an opinion on Intel were surprised by any of it. The shills weren't surprised but they wouldn't get their ten cents a post if they didn't act shocked. As if anyone cares what the shills posted. These are the people who gave back 3 bucks since November but still think they are smart. Whatever...]

    In 2012, revenue was $53.3 billion, gross margin was 62%, operating income was $14.6 billion, net income was $11 billion and earnings per share was two dollars and $0.13.

    For the year, the business continued to generate significant cash with almost $19 billion of cash from operations. We increased the dividend per share by 7%, resulting in over $4 billion in dividends paid and repurchased roughly $5 billion of stock. We continue to invest in our manufacturing leadership. We purchased $11 billion in capital assets, primarily building and equipping leading edge factories and made a $3 billion strategic equity investment in ASML.

    Lastly, we took advantage of record low interest rates and borrowed $6 billion. Total cash investments ended the year at roughly $18 billion, up approximately $3 billion from a year ago. Revenue of $53.3 billion was down 1% from a year ago and below the expectations we had at the start of the year. Worldwide GDP growth was significantly less than we had thought entering the year.

    [OMG, revenue was down by one percent!!! One percent!!! No wonder the analysts went crazy. Revenue dropped by a massive one percent while Intel was preparing to kick ARMs rear-end. Holy smokes, yikes and TORA, TORA, TORA!!! Somebody get the ninny from Lion Broadcasting over here. When was the last time in the history of the stock market anyone has seen a one percent revenue drop???]

    [Okay, I'll stop now. But you get my drift. The press, analyst and shill's reactions are beyond stupid...]

    Sentiment: Strong Buy

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    • [Here's part of the reason that Intel didn't give shorts, shills and analysts the huge, honking miss that they wanted and needed so desperately: great management. Even in the midst of the slow-down, Intel was managing inventory levels and increasing its efforts towards deployment of 14nm which will be game over for ARM...]

      "Our investments in industry leading manufacturing process technology continued to pay off through leadership products and a highly responsive factory network. We invested over $10 billion in research and development in 2012, up almost $2 million from a year ago. The increase was driven by investments in Ultrabooks, the data center, phones and tablets. In addition, we made investments in core capabilities, like security, SoCs and extending our process technology leadership. Spending, as a percent of revenue, was 34%.

      Fourth quarter revenue finished at $13.5 billion, in line with expectations. We believe the worldwide PC supply chain saw a continued reduction in inventory levels in the fourth quarter as customers reduced inventory of older generation PCs. Gross margin at 58% was up one point from expectations and down five points from the third quarter. The drop from the third quarter was driven primarily by excess capacity charges as a result of the aggressive tactical actions we took to reduce inventory levels and to redirect space and equipment to 14 nanometer.

      Our inventories decreased almost $600 million from the third quarter as a result of these actions. Separately, we start production on our next-generation microarchitecture product code-named Haswell, which we expect to qualify for sale this quarter."

      Sentiment: Strong Buy

      • 1 Reply to wallisweaver
      • [Here's part of the reason that Intel didn't give shorts, shills and analysts the huge, honking miss that they wanted and needed so desperately: great management. Even in the midst of the slow-down, Intel was managing inventory levels and increasing its efforts towards deployment of 14nm which will be game over for ARM...]

        Sentiment: Strong Buy

 
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