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Actionable news in INTC: Intel Corporation,

Intel: 2200 Mission College Blvd

The following excerpt is from the company's SEC filing.

Santa Clara, CA 95054-1549

News Release

Intel Reports

-Quarter Revenue of

Billion, Net Income of

News Highlights:

Quarterly revenue of

$14.5 billion

, above the midpoint of outlook; gross margin of

63 percent

, consistent with outlook

Quarterly revenue approximately flat year-over-year, with growth in the data center, Internet of things (IoT) and non-volatile memory businesses offsetting lower client revenue

Results show customer enthusiasm for 6th Gen Intel



October 13, 20 15

-- Intel Corporation today reported

-quarter revenue of

, operating income of

$4.2 billion

, net income of

$3.1 billion

and EPS of

64 cents

. The company generated approximately

$5.7 billion

in cash from operations, paid dividends of

$1.1 billion

, and used

$1.0 billion

to repurchase

36 million

shares of stock.

“We executed well in the third quarter and delivered solid results in a challenging economic environment,” said Brian Krzanich, Intel CEO. “The quarter demonstrates Intel innovation in action. Customers are excited about our new 6th Gen Intel Core processor, and we introduced our breakthrough 3D XPoint

technology, the industry’s first new memory category in more than two decades."

Key Business Unit Trends

Client Computing Group revenue of

$8.5 billion

13 percent

sequentially and

7 percent

Data Center Group revenue of

$4.1 billion

8 percent

12 percent


Internet of Things Group revenue of

$581 million

4 percent

10 percent

Software and services operating segments revenue of

$556 million

sequentially and flat year-over-year

- more -


Financial Comparison

Quarterly Year-Over-Year

Q3 2015

Q3 2014

vs. Q3 2014

$14.6 billion

approx. flat

Gross Margin

down 2.0 points

R&D and MG&A

$4.8 billion

Operating Income

$4.5 billion

down 8%

Tax Rate

down 0.2 point

$3.3 billion

down 6%

Earnings Per Share

66 cents

down 3%

Quarterly Sequential

Q2 2015

vs. Q2 2015

$13.2 billion

up 10%

up 0.5 point

$5.0 billion

down 4%

$2.9 billion

up 45%

up 17.6 points

$2.7 billion

up 15%

55 cents

up 16%

Business Outlook

Intel’s Business Outlook

does not include the potential impact of any business combinations, asset acquisitions, divestitures, strategic investments and other significant transactions that may be completed after

Q4 2015


$14.8 billion

, plus or minus

$500 million

Gross margin percentage:

62 percent

a couple of percentage points

R&D plus MG&A spending: approximately

Restructuring charges: approximately

$25 million

Amortization of acquisition-related intangibles: approximately

$70 million

Impact of equity investments and interest and other: approximately

Depreciation: approximately

$1.9 billion

Tax rate: approximately

25 percent

Full-year capital spending:

$7.3 billion

For additional information regarding Intel’s results and Business Outlook, please see the CFO commentary at:

Status of Business Outlook

Intel’s Business Outlook is posted on and may be reiterated in public or private meetings with investors and others. The Business Outlook will be effective through the close of business on

December 11

unless earlier updated; except that the Business Outlook for amortization of acquisition-related intangibles, impact of equity investments and interest and other, restructuring charges, and tax rate, will be effective only through the close of business on

October 20

. Intel’s Quiet Period will start from the close of business on

until publication of the company’s


-quarter earnings release, scheduled for

January 14

. During the Quiet Period, all of the Business Outlook and other forward-looking statements disclosed in the company’s news releases and filings with the SEC should be considered as historical, speaking as of prior to the Quiet Period only and not subject to an update by the company.

Risk Factors

The above statements and any others in this


that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties.

Words such as "anticipates," "expects," "intends," "goals," "plans," "believes," "seeks," "estimates," "continues," "may," "will," "should," and variations of such words and similar expressions are intended to identify such forward-looking statements.

Statements that refer to or are based on projections, uncertain events or assumptions also identify forward-looking statements. Many factors could affect Intel's actual results, and variances from Intel's current expectations regarding such factors could cause actual results to differ materially from those expressed in these forward-looking statements. Intel presently considers the following to be important factors that could cause actual results to differ materially from the company's expectations.

Demand for Intel's products is highly variable and could differ from expectations due to factors including changes in business and economic conditions; consumer confidence or income levels; the introduction, availability and market acceptance of Intel's products, products used together with Intel products and competitors' products; competitive and pricing pressures, including actions taken by competitors; supply constraints and other disruptions affecting customers; changes in customer order patterns including order cancellations; and changes in the level of inventory at customers.

Intel's gross margin percentage could vary significantly from expectations based on capacity utilization; variations in inventory valuation, including variations related to the timing of qualifying products for sale; changes in revenue levels; segment product mix; the timing and execution of the...