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Intel Narrows Forecast Revenue Range
Jun 6, 2003
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Intel Corp. narrowed the range of its expected revenue for the current quarter and left the midpoint of its previous forecast unchanged at U.S. $6.7 billion, reflecting stronger demand for its microprocessors. The world's largest semiconductor manufacturer said sales of its microprocessors, chipsets, and motherboards, which account for more than 80 percent of total revenue and are included in most personal computers, were "trending to the high end of the normal seasonal patterns." Intel said demand for its communications products, such as networking chips, remained weak as did sales of Intel's flash-memory chips used widely in cellular phones, an area where the company lost market share to rival Advanced Micro Devices Inc. Intel, based in Santa Clara, CA, U.S., said it expected to post revenue of $6.6 billion to $6.8 billion, compared with an earlier forecast for revenue of $6.4 billion to $7 billion. In the year-ago quarter, Intel had net income of $446 million, or $0.7 a share, on revenue of $6.32 billion. (Reuters)

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