Intel upgrades Q3 revenue expectations

Intel Corporation provided a planned update to the company's Business Outlook for the third quarter, which ends Sept. 27.Intel expects revenue to be between $7.6 billion and $7.8 billion, as compared with the previous range of $7.3 billion to $7.8 billion announced on Aug. 22. The Intel Architecture business continues to experience strong broad-based demand, especially in emerging markets, while demand for communications products remains soft. The gross margin percentage for the third quarter is expected to be toward the high end of the previous range of 56 percent, plus or minus a couple of points. The tax rate for the third quarter is now expected to be approximately 28 percent, up from the previous expectation of 24 percent, primarily due to higher profit expectations for the year. The company plans to update its expectations for the fourth-quarter tax rate when it publishes third-quarter results on Oct. 14. All other expectations are unchanged. Intel's third-quarter Business Outlook, which was originally published in the company's second-quarter 2003 earnings release, and the Aug. 22 update to Business Outlook press release are available at www.intc.com. As previously announced, the company will not hold a conference call for financial analysts today.Source: PCBnewsline