Intel posted its highest quarterly revenue numbers ever in the fourth quarter as the company overtook the high-water mark it set in the third quarter of 2000, it announced Wednesday.
For the period ending Dec. 27, 2003, Intel recorded revenue of US$8.74 billion, up 22 percent from last year's fourth-quarter revenue of $7.16 billion. The company's previous record for revenue in a quarter was $8.73 billion, set right near the end of the dot-com bubble in the third quarter of 2000. Revenue exceeded expectations of $8.66 billion by analysts polled by Thomson First Call.
Net income for the quarter was $2.2 billion, up 107 percent from last year's fourth-quarter net income of $1.05 billion. This equates to earnings per share of $0.33, up 106 percent from $0.16 in the fourth quarter of 2002 and exceeding Thomson First Call estimates of $0.25.
For the full year, Intel posted revenue of $30.1 billion, up 13 percent from revenue of $26.8 billion in 2002. Net income was $5.6 billion and earnings per share was $0.85, both up more than 80 percent from 2002 and exceeding full year expectations from analysts.
The company credited record processor shipments from its Intel Architecture group, as well as higher average selling prices for the revenue increase.
Looking forward to the first quarter, Intel predicted revenue to fall between $7.9 billion and $8.5 billion.
The company plans to hold a conference call Wednesday evening to discuss its results.