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Intel is Ireland's largest industrial employer and biggest foreign direct investor - -Since 1989, Intel has invested over $7 billion transforming the 360 acre former stud farm campus in Leixlip, Co. Kildare into a state of the art manufacturing centre of excellence.
Intel, the global chip giant on Tuesday reported its best first quarter since it was founded in 1968, as the recovery powers demand for laptops and server systems.
Intel reported first-quarter revenue of $10.3bn - - a rise of 44%. The company reported operating income of $3.4bn, net income of $2.4bn and EPS of 43 cents. The chipmaker's shares, which hit a 52-week high Tuesday, rose a further 3.8% in late trading to $23.63.
"The investments we’re making in leading edge technology are delivering the most compelling product line-up in our history,"said Paul Otellini, Intel president and CEO. "These leadership products combined with growing worldwide demand and continued outstanding execution resulted in Intel's best first quarter ever. Looking forward, we're optimistic about our business as Intel products are designed into a variety of new and exciting segments."
Intel's gross margin was 63%, boosted by higher selling prices for its chips. It raised its projection for all of 2010 to 64% from 61%.
Intel also announced plans to hire 1,000 to 2,000 new workers - - its biggest hiring move in five years.
Intel’s chief financial officer, Stacy J. Smith, said in an interview that demand for processors for higher-end laptops was stronger than expected as corporations upgraded their workers’ computers.
The Santa Clara headquartered company, is a tech industry bellwether and Google will report earnings tomorrow; IBM on Monday and Microsoft delivers earnings on April 22nd.
2010 will be a good year if corporate spending continues to pick up and the economic recovery remains on track, says Navin Shenoy, general manager, Asia Pacific at Intel. Shenoy shares his outlook with Han De Jong of ABN Amro Private Banking and CNBC's Martin Soong and Sri Jegarajah:
