Intel's profit plunges
Intel's third-quarter net income plummeted 77 per cent before acquisition-related costs, but the company is confident it will see high growth when the economy recovers. Net income for the quarter ending September 29 was $US655 million, down from $2.9 billion a year ago. Revenue for the quarter was $6.5 billion, down 25 per cent from the year earlier. Including acquisition-related costs, third-quarter net income was $106 million, a 96 per cent drop from the previous year. Intel's president and CEO, Craig Barrett, called the results "solid" in a turbulent environment, and said that both revenue and microprocessor units were up from the previous quarter.
Apple ups mobile PCs
Apple Computer has upgraded versions of its mobile computers, the high-end PowerBook G4 and the consumer-oriented iBook. The new PowerBook G4 comes in two models, built around 550MHz and 667MHz PowerPC G4 processors. The speedier model offers a new system bus (the path by which data is routed around the motherboard) that runs at 133MHz, while the 550MHz system uses a 100MHz bus. The new iBook line comes in three models, built around a 500MHz or 600MHz PowerPC G3 processor. All models offer a new 100MHz system bus and 128MB of RAM standard.
Transmeta's new CEO
Chip design house Transmeta has cut president and chief executive officer Mark Allen loose, appointing present chairman Murray Goldman CEO and elevating a board member up to the president's chair. The executive moves are the second reshuffling of the deck since March, when the company's founder, David Ditzel, gave up his role as CEO and moved to the chief technology officer spot. Allen had held the CEO position for about 33 weeks since replacing Ditzel on March 1. Allen also lost his president and chief operating officer roles, which are being taken over by Hugh Barnes, a director on Transmeta's board.