CHIPMAKER Intel has posted bumper financials, taking in $13.9bn in the fourth quarter.
Intel is one of the few semiconductor firms that seemingly managed to ride out a tough 2011, with the firm posting a 21 per cent increase in fourth quarter 2011 revenues to $13.9bn. Profit increased by a more sedate six per cent to $3.4bn, however the firm will please its investors by posting a 14 per cent increase in earnings per share to 64 cents.
Intel's 2011 wasn't just a one quarter wonder, with the company seeing a 24 per cent increase in full year revenue over 2010 to $54.2bn and a 19 per cent increase in profit to $13.7bn.
Not surprisingly Paul Otellini, Intel's president and CEO was bullish saying, "With outstanding execution the company performed superbly, growing revenue by more than $10 billion and eclipsing all annual revenue and earnings records. With a tremendous product and technology pipeline for 2012, we're excited about the global growth opportunities presented by Ultrabook systems, the data center, security and the introduction of Intel-powered smartphones and tablets."
While Intel's 2011 financials might be rosy, it could have been even better if it had not faced the embarrassing recall of its Cougar Point chipsets, which cost the firm $700m. Intel showed off its Medfield Atom chip at CES and the firm will need to announce big name customers for that in 2012 if it wants to enjoy 2013.
Intel expects first quarter 2012 revenue to be somewhere around $12.8bn. That forecast is $100m down from the same period last year, but given how other semiconductor firms have painted a picture of doom and gloom, perhaps Intel will be happy with simply reliving 2011. µ