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الموضوع في 'السوق الأمريكي للأوراق الماليه' بواسطة aboyousef, بتاريخ ‏12 أكتوبر 2004.

  1. aboyousef

    aboyousef عضو نشط

    التسجيل:
    ‏21 يونيو 2004
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    Intel Third-Quarter Revenue $8.5 Billion; Earnings Per Share of 30 Cents Includes Tax Benefits
    10/12/2004 4:15:00 PM
    SANTA CLARA, Calif., Oct 12, 2004 (BUSINESS WIRE) -- Intel Corporation today announced third-quarter revenue of $8.5 billion, up 5 percent sequentially and up 8 percent year-over-year.

    Third-quarter net income was $1.9 billion, up 8 percent sequentially and up 15 percent year-over-year. Earnings per share were 30 cents, up 11 percent sequentially and up 20 percent from 25 cents in the third quarter of 2003.

    "Intel delivered growth in both of its major businesses in the third quarter driven by record server and mobile microprocessor shipments and market segment share gains in flash memory," said Intel CEO Craig R. Barrett. "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 crossed over to 90nm technology in microprocessor shipments to the computing market segment for the quarter and built 65nm memory chips containing more than half a billion transistors each, reflecting the company's long-term strategy of ********* in leading-edge process technology. We also returned more cash to our stockholders with a $2.5-billion share re-purchase, our largest ever."

    Intel's results for the third quarter of 2004 included tax-related items that increased earnings-per-share by 3.6 cents; additional information about these tax items is included in the Financial Review section of this release. Intel's results for the second quarter of 2004 included tax-related items that increased earnings by 1.7 cents per share. The company's results for the third quarter of 2003 included a tax benefit related to a divestiture that increased earnings by 1.9 cents per share.

    BUSINESS OUTLOOK

    The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. Please see the Risk Factors Regarding Forward-Looking Statements in this release for a description of certain important risk factors that could cause actual results to differ, and refer to Intel's annual and quarterly reports on file with the Securities and Exchange Commission (SEC) for a more complete description of the risks. These statements do not include the potential impact of any mergers, acquisitions, divestitures or other business combinations that may be completed after Oct. 11, 2004.

    -- Revenue in the fourth quarter is expected to be between $8.6
    billion and $9.2 billion.
    -- Gross margin percentage for the fourth quarter is expected to be
    approximately 56 percent, plus or minus a couple of points. The gross
    margin percentage could vary from expectations based on changes in
    revenue levels, product mix and pricing, manufacturing yields, changes
    in unit costs, capacity utilization and the existence of excess
    capacity, and the timing and execution of the manufacturing ramp and
    associated costs.
    -- Expenses (R&D plus MG&A) in the fourth quarter are expected to be
    between $2.4 billion and $2.5 billion. Expenses, particularly certain
    marketing and compensation expenses, could vary from expectations
    depending on the level of demand for our products and the level of
    revenue and profits.
    -- R&D spending for 2004 is expected to be $4.7 billion, slightly
    below the previous expectation of $4.8 billion.
    -- The capital spending expectation for 2004 is unchanged at between
    $3.6 billion and $4.0 billion.
    -- Gains from equity investments and interest and other in the fourth
    quarter are expected to be approximately $65 million.
    -- The tax rate for the fourth quarter is expected to be approximately
    30.5 percent. The tax rate expectation is based on current tax law and
    current expected income, and assumes Intel continues to receive tax
    benefits for export sales. The tax rate may be affected by the closing
    of acquisitions or divestitures, the jurisdiction in which profits are
    determined to be earned and taxed, the resolution of issues arising
    from tax audits with various tax authorities and the ability to
    realize deferred tax assets.
    -- Depreciation for the fourth quarter is expected to be between $1.1
    billion and $1.2 billion.
    -- Amortization of acquisition-related intangibles and costs is
    expected to be approximately $40 million in the fourth quarter and
    approximately $180 million for the full year.


    THIRD-QUARTER REVIEW AND RECENT HIGHLIGHTS

    Financial Review

    -- The gross margin percentage for the quarter was 55.7 percent, as
    compared to the revised expectation of approximately 58 percent, plus
    or minus a couple of points, primarily due to higher than expected
    inventory reserves; higher than expected motherboard and chipset units
    and lower than expected processor units in the revenue mix; and an
    inventory write-down as a result of lower chipset unit costs.
    -- The effective tax rate for the quarter was 21.4 percent, lower than
    the July expectation of approximately 31 percent and below the
    September expectation of approximately 29.5 percent. The September
    expectation reflected the impact of a higher percentage of profits
    being generated in lower-tax jurisdictions, which increased earnings
    by 0.6 cents per share. Subsequently, in connection with preparing and
    filing its 2003 federal tax return and preparing its state returns,
    Intel reduced its third-quarter tax provision by $195 million, which
    increased earnings by 3 cents per share. The reduction in the tax
    provision was primarily driven by additional tax benefits for export
    sales, along with state tax benefits for divestitures.
    -- Intel used approximately $2.5 billion in cash to repurchase 106.3
    million shares of its common stock under an ongoing program.



    Key Product Trends (Sequential)

    -- Intel Architecture microprocessor units were higher and set a
    third-quarter record. The average selling price was approximately
    flat.
    -- Chipset units set a record.
    -- Motherboard units set a record.
    -- Flash memory units were approximately flat.
    -- Wireless connectivity units set a record. Wired connectivity units
    were lower.
     
  2. aboyousef

    aboyousef عضو نشط

    التسجيل:
    ‏21 يونيو 2004
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    0
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    yahoo

    Yahoo! Reports Third Quarter 2004 Financial Results
    10/12/2004 4:31:00 PM
    Company Posts Revenues of $907 Million, Operating Income of $172 Million, Operating Income Before Depreciation and Amortization of $260 Million

    SUNNYVALE, Calif., Oct 12, 2004 (BUSINESS WIRE) -- Yahoo! Inc. ( YHOO ) today reported results for the third quarter ended September 30, 2004.

    "Yahoo! began to demonstrate the next stage in the Company's evolution in the third quarter, and in doing so recorded its sixth consecutive quarter of record revenue," said Terry Semel, chairman and chief executive officer, Yahoo!. "We accelerated the pace at which new products and services were developed, which in-turn helped increase the level of user engagement across the Yahoo! network. Our engaged audience enables us to deliver an unmatched set of advertising opportunities, providing deeper value to our marketers, and supporting the mantra that great products are the key to a great business."

    -- Revenues were $907 million for the third quarter of 2004, a
    154 percent increase compared to $357 million for the same
    period of 2003.

    -- Revenues excluding traffic acquisition costs ("TAC") were $655
    million for the third quarter of 2004, an 84 percent increase
    compared to the $357 million for the same period of 2003.

    -- Gross profit for the third quarter of 2004 was $574 million,
    an 86 percent increase compared to $310 million for the same
    period of 2003.

    -- Operating income for the third quarter of 2004 was $172
    million, an increase of 106 percent compared to $83 million
    for the same period of 2003.

    -- Operating income before depreciation and amortization for the
    third quarter of 2004 was $260 million, a 122 percent increase
    compared to $117 million for the same period of 2003.

    -- Cash flow from operating activities for the third quarter of
    2004 was $267 million, an increase of 97 percent compared to
    $136 million for the same period of 2003.

    -- Free cash flow for the third quarter of 2004 was $202 million,
    a 108 percent increase over the $97 million reported for the
    same period of 2003.

    -- Net income for the third quarter of 2004 was $253 million or
    $0.17 per diluted share (including a net impact of $129
    million, or $0.09 per share, related to the sale of an
    investment and the associated tax benefit resulting from fully
    reserved capital losses becoming realizable). Excluding this
    gain, net income for the third quarter was $124 million, or
    $0.09 per diluted share. This compares with net income of $65
    million or $0.05 per diluted share for the same period of
    2003.

    -- The provision for income taxes of $67 million yielded an
    effective tax rate of 21% for the third quarter of 2004 as a
    result of the previously described tax benefit associated with
    the capital loss carryforwards. The provision for income taxes
    in the same period of 2003 was $40 million, and yielded an
    effective tax rate of 38%.


    "Yahoo! generated its highest-ever level of free cash flow in the third quarter, more than doubling the amount generated one year ago," said Susan Decker, chief financial officer, Yahoo!. "We believe that long-term free cash flow generation is the most important factor driving shareholder value and we are very pleased with both its magnitude in this quarter and the strong foundation on which it is based, positioning us well for sustained growth."

    Third Quarter 2004 Financial Highlights