Intel Q2 business within expectations
Jun 08, 2004
Revenue Expected to be Between $8.0 Billion and $8.2 Billion Intel Corporation expects revenue for the second quarter to be between $8.0 billion and $8.2 billion, as compared to the previous range of $7.6 billion to $8.2 billion. Demand for Intel Architecture products is consistent with the company's expectations at the beginning of the quarter and significantly higher than in the same period last year. Communications revenue is trending above the company's previous expectations primarily due to increased demand for the company's flash memory products. The gross margin percentage is expected to be between 60 percent and 61 percent, as compared to the previous expectation of 60 percent, plus or minus a couple of points. The company closed a state income tax audit relating to prior years' returns, and as a result will reduce its income tax expense by approximately $60 million during the quarter, which will slightly reduce the previous full year tax rate expectation of approximately 32 percent. All other expectations are unchanged.
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