Intel's fourth-quarter revenue hit a record high of $8.74bn, slightly more than the previous record for the third quarter of 2003, which came in at $8.73bn.
Fourth-quarter net income was $2.2bn, up 31% sequentially and by 107% year on year.
“We ended the year on a high note, as ongoing strength in emerging markets, coupled with improving demand in established markets drove revenue to record levels,” says Craig Barrett, Intel chief executive officer.
“Intel's substantial investments in capital and R&D over the past few years allowed us to ship record microprocessor units in 2003, and introduce exciting new products, such as Intel Centrino mobile technology.
“In 2004, our focus will be to drive double-digit growth through technology leadership and global market expansion, and, by pursuing adjacent opportunities in communications and the digital home, use our 90nm and 300mm factories to reduce costs and improve profitability.”
The 2003 fourth-quarter results included the impact of a $611m goodwill write-down related to the Wireless Communications and Computing Group (WCCG). The company had anticipated a tax benefit of approximately $200m related to a divestiture.
Tax benefit increased by $420m because of an additional divestiture that closed during the quarter. Intel’s third-quarter results included a tax benefit of $125m related to a divestiture, and last year’s fourth-quarter results included a tax benefit of approximately $75m related to divestitures.
Written by Computing SA staff