Intel Corporation Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 29, 2012; Provides Earnings Guidance for the First Quarter and Full Year of 2013
January 17, 2013 at 04:11 pm EST
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Intel Corporation reported consolidated earnings results for the fourth quarter and full year ended December 29, 2012. For the fourth quarter, the company reported revenue of $13.5 billion against $13.9 billion a year ago. Net income was $2.5 billion or $0.48 per diluted share against $3.4 billion or $0.64 per diluted share a year ago. Operating income was $3,155 million against $4,599 million a year ago. Income before taxes was $3,204 million against $4,587 million a year ago. Non-GAAP operating income was $3,367 million against $4,808 million a year ago. Non-GAAP net income was $2,609 million or $0.51 per diluted share against $3,523 million or $0.67 per diluted share a year ago. The company generated $6 billion of cash flow from operations. The company had $2.5 billion of CapEx.
For the year, the company reported revenue of $53.3 billion against $54.0 billion a year ago. Net income was $11.0 billion or $2.13 per diluted share against $12.9 billion or $2.39 per diluted share a year ago. Operating income was $14,638 million against $17,477 million a year ago. Income before taxes was $14,873 million against $17,781 million a year ago. Non-GAAP operating income was $15,503 million against $18,219 million a year ago. Non-GAAP net income was $11,580 million or $2.24 per diluted share against $13,524 million or $2.50 per diluted share a year ago. The company generated significant cash, with almost $19 billion of cash from operations. The company purchased $11 billion in capital assets, primarily building and equipping leading-edge factories.
For the full year of 2013, the company expects revenue in low single-digit percentage increase, and forecasting the mid-point of gross margin range at 60%, amortization of acquisition-related intangibles of approximately $300 million, depreciation of $6.8 billion, plus or minus $100 million, tax rate of approximately 25% and capital spending of $13.0 billion, plus or minus $500 million. Capital spending for core business is expected to be roughly flat to 2012.
For the first quarter of 2013, the company expects revenue of $12.7 billion, plus or minus $500 million, gross margin percentage of 58%, plus or minus a couple percentage points, amortization of acquisition-related intangibles of approximately $75 million and depreciation of approximately $1.7 billion.
Intel Corporation is the world leading manufacturer of semiconductor. Net sales break down by family of products and services as follows:
- computing architectures products (93.2%): processors and microprocessors (Pentium, Intel Xeon brands, etc.), graphics cards, chips and motherboards, connectivity products, cellular modems, Ethernet controllers, network components, storage products, etc. for PCs, servers, data centers, cloud networks, workstations, notebooks, Internet of Things, graphics architectures, intelligent peripherals and communications infrastructures. The group also develops associated software;
- advanced driving assistance and autonomous driving systems (3.8%; Mobileye);
- wafer manufacturing services (1.8%): accelerators, monolithic chips, silicon wafers, etc. The group also offers chiplet software and mask manufacturing equipment for advanced lithography;
- other (1.2%).
Net sales (including intragroup) are distributed geographically as follows: the United States (25.7%), China (27.4%), Singapore (15.9%), Taiwan (12.7%) and other (18.3%).
Intel Corporation Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 29, 2012; Provides Earnings Guidance for the First Quarter and Full Year of 2013