SANTA CLARA, Calif. -- Intel Corp. today announced second quarter revenue of $6.3 billion, down 24% from the second quarter of 2000 and down 5% sequentially.
For the second quarter, net income excluding acquisition-related costs was $854 million, down 76% from the second quarter of 2000 and down 22% sequentially.
Second quarter earnings excluding acquisition-related costs were $0.12 per share, a decrease of 76% from $0.50 in the second quarter of 2000 and down 25% sequentially.
Including acquisition-related costs in accordance with generally accepted accounting principles, second quarter net income was $196 million, down 94% from the second quarter of 2000 and down 60% sequentially.
Earnings per share were $0.03, down 93% from $0.45 in the second quarter of 2000 and down 57% sequentially.
"Intel's second quarter results met our overall expectations as our microprocessor business performed better than expected, with sequential growth in units, while our communications andflash businesses remained soft," said Craig R. Barrett, president and chief executive officer of Intel.
Intel said it currently expects third-quarter revenues to be in a range of $6.2-to-$6.8 billion--between a drop of 1.5% and an increase of 7.9% from the second quarter. The company estimated a gross margin percentage of 47% in the third quarter--plus or minus a couple of points--compared to 48% in the second quarter.
The Santa Clara company also said it was sticking with its capital spending plans of $7.5 billion in 2001. Some analysts have predicted that Intel would come down from that figure after chip markets suffered their worst six-month drop in history, but Intel executive have insisted that the investments were needed to accelerate microprocessor technology and drive down costs.
