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  • Apple adds refurbished 13-inch MacBook Pro to online store, Retina model starting at $1,439

    Apple

    It’s been nearly two weeks since Apple made its 15-inch next-generation MacBook Pro available as a refurb and now the 13-inch model’s ready to follow suit. Listed on the company’s online storefront today, iFans averse to full retail pricing can now snag the base model with a 2.5GHz dual-core Intel Core i5, 4GB RAM and a 500GB HDD for $1,019 (about $180 less). That’s if you hate your eyes, but have slightly more respect for your wallet. Or… or you can go for the gloss and get the Retina model with the same processor setup, 8GB RAM and a 128GB SSD (configurations of up to 512GB also available) for $1,439 — so long as you’re willing to pay more of a premium. However it shakes down for you, there’s no denying you’re in store for savings and the pleasures of a product that’s almost brand new.

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    Via: MacRumours, SlashGear

    Source: Apple

  • Raspberry Pi creator doesn’t expect a sequel in 2013

    Raspberry Pi Model B

    If you were hoping for a full-fledged Raspberry Pi sequel this year, you’ll have to keep waiting. Designer Eben Upton tells ZDNet that, while there should eventually be a replacement, he doesn’t expect one in 2013. Both software tweaks and upgrades like the Model B are reportedly doing the job — and it wouldn’t be right to “orphan” the 700,000 existing owners with a new platform, Upton says. He isn’t worried about the Cubieboard and other current rivals, as they have yet to be as fast as their raw numbers suggest. We won’t hide our disappointment at missing out on a quick revamp, but we know what they say about things that aren’t broken.

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    Source: ZDNet

  • Intel posts Q4 2012 earnings: $2.5 billion in profit on $13.5 billion in revenue

    Intel posts Q4 2012 earnings

    Intel continues to rake in the dough, posting a quarterly profit of $2.5 billion on a total revenue of $13.5 billion during the final three month period of 2012. While those numbers are down slightly both sequentially and year-over-year, they’re hardly disappointing. In a statement released alongside the financial figures, CFO Stacy Smith said the results were inline with expectations — and they actually exceeded Wall Street Forecasts. To accompany its quarterly fillings, Intel also released its annual results, which do have some cause for concern. While revenues were only down 1.2 percent from 2011’s $54 billion dollar haul to $53.3 billion, net income was down 15 percent, from $12.9 billion to $11 billion. The decline of PC sales has certainly effected the company’s bottom line, as the PC Client group has seen revenue drop 6 percent to $8.5 billion year-over-year and its “Other Intel Architecture” division pulled in only $1 billion, a 14-percent falloff from Q3. One of the bright spots for the chip giant was its Data Center Group, which continues to grow at a steady pace, with revenues up 7 percent sequentially and 4 percent year over year. For more detailed financial fun hit up the PR after the break.

    Show full PR text

    Intel Reports Full Year Revenue of $53.3 Billion, Net Income of $11.0 Billion
    Generates $18.9 Billion in Cash from Operations

    SANTA CLARA, Calif., Jan 17, 2013 (BUSINESS WIRE) — Intel Corporation today reported full-year revenue of $53.3 billion, operating income of $14.6 billion, net income of $11.0 billion and EPS of $2.13. The company generated approximately $18.9 billion in cash from operations, paid dividends of $4.4 billion, and used $4.8 billion to repurchase 191 million shares of stock.

    For the fourth quarter, Intel posted revenue of $13.5 billion, operating income of $3.2 billion, net income of $2.5 billion and EPS of 48 cents. The company generated approximately $6 billion in cash from operations, paid dividends of $1.1 billion and used $1.0 billion to repurchase 47 million shares of stock.

    “The fourth quarter played out largely as expected as we continued to execute through a challenging environment,” said Paul Otellini, Intel president and CEO. “We made tremendous progress across the business in 2012 as we entered the market for smartphones and tablets, worked with our partners to reinvent the PC, and drove continued innovation and growth in the data center. As we enter 2013, our strong product pipeline has us well positioned to bring a new wave of Intel innovations across the spectrum of computing.”

    Full-Year 2012 Key Financial Information and Business Unit Trends

    — PC Client Group had revenue of $34.3 billion, down 3 percent from 2011.

    — Data Center Group had revenue of $10.7 billion, up 6 percent from 2011.

    — Other Intel architecture group had revenue of $4.4 billion, down 13 percent from 2011.

    Q4 Key Financial Information and Business Unit Trends

    — PC Client Group revenue of $8.5 billion, down 1.5 percent sequentially and down 6 percent year-over-year.

    — Data Center Group revenue of $2.8 billion, up 7 percent sequentially and up 4 percent year-over-year.

    — Other Intel(R) architecture group revenue of $1.0 billion, down 14 percent sequentially and down 7 percent year-over-year.

    — Gross margin of 58 percent, 1.0 percentage point above the midpoint of the company’s expectation of 57 percent.

    — R&D plus MG&A spending $4.6 billion, in line with the company’s expectation of approximately $4.5 billion.

    — Tax rate of 23 percent, below the company’s expectation of approximately 27 percent.

    Business Outlook

    Intel’s Business Outlook does not include the potential impact of any business combinations, asset acquisitions, divestitures or other investments that may be completed after Jan. 17.

    Full-Year 2013

    — Revenue: low single-digit percentage increase.

    — Gross margin percentage: 60 percent, plus or minus a few percentage points.

    — R&D plus MG&A spending: $18.9 billion, plus or minus $200 million.

    — Amortization of acquisition-related intangibles: approximately $300 million.

    — Depreciation: $6.8 billion, plus or minus $100 million.

    — Impact of equity investments and interest and other: net gain of approximately $100 million.

    — Tax Rate: approximately 25 percent.

    — Full-year capital spending: $13.0 billion, plus or minus $500 million.

    Q1 2013

    — Revenue: $12.7 billion, plus or minus $500 million.

    — Gross margin percentage: 58 percent, plus or minus a couple percentage points.

    — R&D plus MG&A spending: approximately $4.6 billion.

    — Amortization of acquisition-related intangibles: approximately $75 million.

    — Impact of equity investments and interest and other: net loss of approximately $50 million.

    — Depreciation: approximately $1.7 billion.

    For additional information regarding Intel’s results and Business Outlook, please see the CFO commentary at: www.intc.com/results.cfm .

    Status of Business Outlook

    Intel’s Business Outlook is posted on intc.com and may be reiterated in public or private meetings with investors and others. The Business Outlook will be effective through the close of business Mar. 15 unless earlier updated; except that the Business Outlook for amortization of acquisition-related intangibles, impact of equity investments and interest and other, and tax rate, will be effective only through the close of business on Jan. 24. Intel’s Quiet Period will start from the close of business on Mar. 15 until publication of the company’s first-quarter earnings release, scheduled for April 16, 2013. During the Quiet Period, all of the Business Outlook and other forward-looking statements disclosed in the company’s news releases and filings with the SEC should be considered as historical, speaking as of prior to the Quiet Period only and not subject to an update by the company.

    GAAP Financial Comparison
    ———————————————————————-
    Annual
    ———————————————————————-
    2012 2011 vs. 2011
    ————- ————- ————-
    Revenue $53.3 billion $54.0 billion down 1.2%
    —————— ————- ————- ————-
    Gross Margin 62.1% 62.5% down 0.4 pts.
    —————— ————- ————- ————-
    Operating Income $14.6 billion $17.5 billion down 16%
    —————— ————- ————- ————-
    Net Income $11.0 billion $12.9 billion down 15%
    —————— ————- ————- ————-
    Earnings Per Share $2.13 $2.39 down 11%
    —————— ————- ————- ————-

    Non-GAAP Financial Comparison
    ———————————————————————-
    Annual
    ———————————————————————-
    2012 2011 vs. 2011
    —————- —————- —————-
    Gross Margin 63.2% 63.4% down 0.2 pts.
    —————— —————- —————- —————-
    Operating Income $15.5 billion $18.2 billion down 15%
    —————— —————- —————- —————-
    Net Income $11.6 billion $13.5 billion down 14%
    —————— —————- —————- —————-
    Earnings Per Share $2.24 $2.50 down 10%
    —————— —————- —————- —————-
    Non-GAAP results exclude the amortization of acquisition-related
    intangible
    assets and the related income tax effect of these
    charges.
    ——————————————————————

    GAAP Financial Comparison
    ———————————————————————-
    Quarterly
    ———————————————————————-
    Q4 2012 Q4 2011 vs. Q4 2011
    Revenue $13.5 billion $13.9 billion down 3%
    Gross Margin 58.0% 64.5% down 6.5 pts.
    Operating Income $3.2 billion $4.6 billion down 31%
    Net Income $2.5 billion $3.4 billion down 27%
    Earnings Per Share 48 cents 64 cents down 25%

    Non-GAAP Financial Comparison
    ———————————————————————-
    Quarterly
    ———————————————————————-
    Q4 2012 Q4 2011 vs. Q4 2011
    —————- —————- —————-
    Gross Margin 59.0% 65.4% down 6.4 pts.
    —————— —————- —————- —————-
    Operating Income $3.4 billion $4.8 billion down 30%
    —————— —————- —————- —————-
    Net Income $2.6 billion $3.5 billion down 26%
    —————— —————- —————- —————-
    Earnings Per Share 51 cents 67 cents down 24%
    —————— —————- —————- —————-
    Non-GAAP results exclude the amortization of acquisition-related
    intangible
    assets and the related income tax effect of these
    charges.
    ——————————————————————

    Risk Factors

    The above statements and any others in this document that refer to plans and expectations for the first quarter, the year and the future are forward-looking statements that involve a number of risks and uncertainties. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” “should” and their variations identify forward-looking statements. Statements that refer to or are based on projections, uncertain events or assumptions also identify forward-looking statements. Many factors could affect Intel’s actual results, and variances from Intel’s current expectations regarding such factors could cause actual results to differ materially from those expressed in these forward-looking statements. Intel presently considers the following to be the important factors that could cause actual results to differ materially from the company’s expectations.

    — Demand could be different from Intel’s expectations due to factors including changes in business and economic conditions; customer acceptance of Intel’s and competitors’ products; supply constraints and other disruptions affecting customers; changes in customer order patterns including order cancellations; and changes in the level of inventory at customers. Uncertainty in global economic and financial conditions poses a risk that consumers and businesses may defer purchases in response to negative financial events, which could negatively affect product demand and other related matters.

    — Intel operates in intensely competitive industries that are characterized by a high percentage of costs that are fixed or difficult to reduce in the short term and product demand that is highly variable and difficult to forecast. Revenue and the gross margin percentage are affected by the timing of Intel product introductions and the demand for and market acceptance of Intel’s products; actions taken by Intel’s competitors, including product offerings and introductions, marketing programs and pricing pressures and Intel’s response to such actions; and Intel’s ability to respond quickly to technological developments and to incorporate new features into its products.

    — The gross margin percentage could vary significantly from expectations based on capacity utilization; variations in inventory valuation, including variations related to the timing of qualifying products for sale; changes in revenue levels; segment product mix; the timing and execution of the manufacturing ramp and associated costs; start-up costs; excess or obsolete inventory; changes in unit costs; defects or disruptions in the supply of materials or resources; product manufacturing quality/yields; and impairments of long-lived assets, including manufacturing, assembly/test and intangible assets.

    — The tax rate expectation is based on current tax law and current expected income. The tax rate may be affected by the jurisdictions in which profits are determined to be earned and taxed; changes in the estimates of credits, benefits and deductions; the resolution of issues arising from tax audits with various tax authorities, including payment of interest and penalties; and the ability to realize deferred tax assets.

    — Gains or losses from equity securities and interest and other could vary from expectations depending on gains or losses on the sale, exchange, change in the fair value or impairments of debt and equity investments; interest rates; cash balances; and changes in fair value of derivative instruments. The majority of our marketable equity security portfolio balance is concentrated in ASML Holding, N.V., and declines in value could result in impairment charges, impacting gains or losses on equity securities.

    — Intel’s results could be affected by adverse economic, social, political and physical/infrastructure conditions in countries where Intel, its customers or its suppliers operate, including military conflict and other security risks, natural disasters, infrastructure disruptions, health concerns and fluctuations in currency exchange rates.

    — Expenses, particularly certain marketing and compensation expenses, as well as restructuring and asset impairment charges, vary depending on the level of demand for Intel’s products and the level of revenue and profits.

    — Intel’s results could be affected by the timing of closing of acquisitions and divestitures.

    — Intel’s current chief executive officer plans to retire in May 2013 and the Board of Directors is working to choose a successor. The succession and transition process may have a direct and/or indirect effect on the business and operations of the company. In connection with the appointment of the new CEO, the company will seek to retain our executive management team (some of whom are being considered for the CEO position), and keep employees focused on achieving the company’s strategic goals and objectives.

    — Intel’s results could be affected by adverse effects associated with product defects and errata (deviations from published specifications), and by litigation or regulatory matters involving intellectual property, stockholder, consumer, antitrust, disclosure and other issues, such as the litigation and regulatory matters described in Intel’s SEC reports. An unfavorable ruling could include monetary damages or an injunction prohibiting Intel from manufacturing or selling one or more products, precluding particular business practices, impacting Intel’s ability to design its products, or requiring other remedies such as compulsory licensing of intellectual property.

    A detailed discussion of these and other factors that could affect Intel’s results is included in Intel’s SEC filings, including the company’s most recent Form 10-Q and report on Form 10-K.

    Earnings Webcast

    Intel will hold a public webcast at 2 p.m. PDT today on its Investor Relations website at www.intc.com . A webcast replay and MP3 download will also be available on the site.

    Intel plans to report its earnings for the first quarter of 2013 on April 16, 2013. Immediately following the earnings report, the company plans to publish a commentary by Stacy J. Smith, executive vice president, chief financial officer, and director of corporate strategy, at www.intc.com/results.cfm . A public webcast of Intel’s earnings conference call will follow at 2 p.m. PDT at www.intc.com .

    About Intel

    Intel INTC -1.90% is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.

    Intel, the Intel logo and Ultrabook are trademarks of Intel Corporation in the United States and other countries.

    *Other names and brands may be claimed as the property of others.

    INTEL CORPORATION
    CONSOLIDATED SUMMARY STATEMENT OF INCOME DATA
    (In millions, except per share amounts)
    Three Months Ended Twelve Months Ended
    ———————————- ———————–
    Dec 29, Dec 31, Dec 29, Dec 31,
    2012 2011 2012 2011
    ———————- ———– ———– ———–
    NET REVENUE $ 13,477 $ 13,887 $ 53,341 $ 53,999
    Cost of sales 5,660 4,935 20,190 20,242
    ———- —— —— ——
    GROSS MARGIN 7,817 8,952 33,151 33,757
    ———- —— —— ——
    Research and development 2,629 2,308 10,148 8,350
    Marketing, general and administrative 1,958 1,973 8,057 7,670
    ———- —— —— ——
    R&D AND MG&A 4,587 4,281 18,205 16,020
    Amortization of acquisition-related intangibles 75 72 308 260
    ———- —— —— ——
    OPERATING EXPENSES 4,662 4,353 18,513 16,280
    ———- —— —— ——
    OPERATING INCOME 3,155 4,599 14,638 17,477
    Gains (losses) on equity investments, net 60 17 141 112
    Interest and other, net (11) (29) 94 192
    ———- —— —— ——
    INCOME BEFORE TAXES 3,204 4,587 14,873 17,781
    Provision for taxes 736 1,227 3,868 4,839
    ———- —— —— ——
    NET INCOME $ 2,468 $ 3,360 $ 11,005 $ 12,942
    ========== ========== === ====== === ====== === ======
    BASIC EARNINGS PER COMMON SHARE $ 0.50 $ 0.66 $ 2.20 $ 2.46
    ========== ========== === ====== === ====== === ======
    DILUTED EARNINGS PER COMMON SHARE $ 0.48 $ 0.64 $ 2.13 $ 2.39
    ========== ========== === ====== === ====== === ======
    WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
    BASIC 4,968 5,069 4,996 5,256
    DILUTED 5,095 5,242 5,160 5,411

    INTEL CORPORATION
    CONSOLIDATED SUMMARY BALANCE SHEET DATA
    (In millions)
    Dec 29, Sept 29, Dec 31,
    2012 2012 2011
    ——————- ——————– ——————-
    CURRENT ASSETS
    Cash and cash equivalents $ 8,478 $ 3,520 $ 5,065
    Short-term investments 3,999 2,483 5,181
    Trading assets 5,685 4,462 4,591
    Accounts receivable, net 3,833 3,938 3,650
    Inventories:
    Raw materials 478 614 644
    Work in process 2,219 2,363 1,680
    Finished goods 2,037 2,342 1,772
    ————– ————– ————–
    4,734 5,319 4,096
    Deferred tax assets 2,117 1,633 1,700
    Other current assets 2,512 1,659 1,589
    ————– ————– ————–
    TOTAL CURRENT ASSETS 31,358 23,014 25,872
    ————– ————– ————–
    Property, plant and equipment, net 27,983 27,157 23,627
    Marketable equity securities 4,424 3,924 562
    Other long-term investments 493 469 889
    Goodwill 9,710 9,623 9,254
    Identified intangible assets, net 6,235 6,221 6,267
    Other long-term assets 4,148 4,033 4,648
    ————– ————– ————–
    TOTAL ASSETS $ 84,351 $ 74,441 $ 71,119
    === ============== ==== ============== === ==============
    CURRENT LIABILITIES
    Short-term debt $ 312 $ 56 $ 247
    Accounts payable 3,023 3,188 2,956
    Accrued compensation and benefits 2,972 2,320 2,948
    Accrued advertising 1,015 1,096 1,134
    Deferred income 1,932 1,954 1,929
    Other accrued liabilities 3,644 3,339 2,814
    ————– ————– ————–
    TOTAL CURRENT LIABILITIES 12,898 11,953 12,028
    ————– ————– ————–
    Long-term debt 13,136 7,100 7,084
    Long-term deferred tax liabilities 3,412 2,904 2,617
    Other long-term liabilities 3,702 3,215 3,479
    Stockholders’ equity:
    Preferred stock — — —
    Common stock and capital in excess of par value 19,464 19,278 17,036
    Accumulated other comprehensive income (loss) (399) (501) (781)
    Retained earnings 32,138 30,492 29,656
    ————– ————– ————–
    TOTAL STOCKHOLDERS’ EQUITY 51,203 49,269 45,911
    ————– ————– ————–
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 84,351 $ 74,441 $ 71,119
    === ============== ==== ============== === ==============

    INTEL CORPORATION
    SUPPLEMENTAL FINANCIAL AND OTHER INFORMATION
    (In millions)
    Q4 2012 Q3 2012 Q4 2011
    ————– ————– ————–
    CASH INVESTMENTS:
    Cash and short-term investments $12,477 $6,003 $10,246
    Trading assets – marketable debt securities 5,685 4,462 4,591
    ————– ————– ————–
    Total cash investments $18,162 $10,465 $14,837
    CURRENT DEFERRED INCOME:
    Deferred income on shipments of components to distributors $694 $791 $751
    Deferred income from software and services group 1,238 1,163 1,178
    ————– ————– ————–
    Total current deferred income $1,932 $1,954 $1,929
    SELECTED CASH FLOW INFORMATION:
    Depreciation $1,641 $1,625 $1,333
    Share-based compensation $272 $276 $241
    Amortization of intangibles $364 $268 $256
    Capital spending ($2,504) ($2,887) ($2,844)
    Investments in non-marketable equity instruments ($117) ($163) ($124)
    Equity investment in ASML Holding N.V. — (3,218) —
    Stock repurchase program ($1,000) (1,165) (4,133)
    Proceeds from sales of shares to employees & excess tax benefit $139 $299 $1,129
    Issuance of long-term debt $6,124 — —
    Dividends paid ($1,119) ($1,125) ($1,070)
    Net cash (used)/received for acquisitions/divestitures ($70) ($110) ($244)
    EARNINGS PER COMMON SHARE INFORMATION:
    Weighted average common shares outstanding – basic 4,968 4,996 5,069
    Dilutive effect of employee equity incentive plans 73 93 115
    Dilutive effect of convertible debt 54 64 58
    ————– ————– ————–
    Weighted average common shares outstanding – diluted 5,095 5,153 5,242
    STOCK BUYBACK:
    Shares repurchased 47 46 174
    Cumulative shares repurchased (in billions) 4.3 4.2 4.1
    Remaining dollars authorized for buyback (in billions) $5.3 $6.3 $10.1
    OTHER INFORMATION:
    Employees (in thousands) 105.0 104.7 100.1

    INTEL CORPORATION
    SUPPLEMENTAL OPERATING GROUP RESULTS
    (In millions)
    Three Months Ended Twelve Months Ended
    ———————- ———————-
    Dec 29, Dec 31, Dec 29, Dec 31,
    2012 2011 2012 2011
    ——- ——- ——- ——-
    Net Revenue
    PC Client Group $ 8,506 $ 9,047 $ 34,274 $ 35,406
    Data Center Group 2,830 2,717 10,741 10,129
    Other Intel Architecture Group 1,018 1,099 4,378 5,005
    ——- ——- ——- ——-
    Intel Architecture Group 12,354 12,863 49,393 50,540
    ——- ——- ——- ——-
    Software and Services Group 636 578 2,381 1,870
    All other 487 446 1,567 1,589
    ——- ——- ——- ——-
    TOTAL NET REVENUE $ 13,477 $ 13,887 $ 53,341 $ 53,999
    = ======= ==== ======= = ======= ==== =======
    Operating income (loss)
    PC Client Group $ 2,817 $ 3,952 $ 13,053 $ 14,793
    Data Center Group 1,329 1,453 5,073 5,100
    Other Intel Architecture Group (495) (368) (1,377) (577)
    ——- ——- ——- ——-
    Intel Architecture Group $ 3,651 $ 5,037 16,749 19,316
    – ——- —- ——- ——- ——-
    Software and Services Group (36) 16 (11) (32)
    All other (460) (454) (2,100) (1,807)
    ——- ——- ——- ——-
    TOTAL OPERATING INCOME $ 3,155 $ 4,599 $ 14,638 $ 17,477
    = ======= ==== ======= = ======= ==== =======

    In the second quarter of 2012, we reorganized our smartphone,
    tablet, and mobile communication businesses within the other Intel
    architecture operating group to enable us to move faster and with
    greater collaboration and synergies in the market segment for mobile
    devices. As part of the reorganization, the former Netbook and
    Tablet Group has been separated into the following new operating
    groups: Netbook Group, Tablet Group, and Service Provider Group.
    Additionally, the former Ultra-Mobility Group is now the Phone
    Group. The other Intel architecture operating group continues to
    include the Intelligent Systems Group and Intel Mobile
    Communications. The other Intel architecture operating group
    aggregation has not changed. Our operating groups shown above are
    comprised of the following:
    – PC Client Group: Delivering platforms designed for the
    notebook and desktop (including high-end enthusiast PCs) market
    segments; and wireless connectivity products.
    – Data Center Group: Delivering platforms designed for the
    server, workstation, and storage computing market segments; and
    wired network connectivity products.
    – Other Intel Architecture Group consist of the following:
    – Intelligent Systems Group: Delivering platforms designed
    for embedded applications.
    – Netbook Group: Delivering platforms designed for the
    netbook market segment.
    – Intel Mobile Communications: Delivering mobile phone
    components such as baseband processors, radio frequency
    transceivers, and power management chips.
    – Tablet Group: Delivering platforms designed for the tablet
    market segment.
    – Phone Group: Delivering platforms designed for the
    smartphone market segment.
    – Service Provider Group: Delivering gateway and set top box
    components.
    – Software and Services Group consists of the following:
    – McAfee: A wholly owned subsidiary delivering software
    products for endpoint security, network and content security, risk
    and compliance, and consumer and mobile security.
    – Wind River Software Group: A wholly owned subsidiary
    delivering software optimized products for the embedded and mobile
    market segments.
    – Software and Services Group: Delivering software products
    and services that promote Intel Architecture as the platform of
    choice for software development.
    All Other consists of the following:
    – Non-Volatile Memory Solutions Group: Delivering NAND flash
    memory products for use in a variety of devices.
    – Corporate: Revenue, expenses and charges such as:
    – A portion of profit-dependent compensation and other expenses not
    allocated to the operating groups.
    – Divested businesses and results of seed businesses that support
    our initiatives.
    – Acquisition-related costs, including amortization and any
    impairment of acquisition-related intangibles and goodwill.

    INTEL CORPORATION
    SUPPLEMENTAL PLATFORM REVENUE INFORMATION
    Q4 2012 Q4 2012 2012
    compared to Q3 2012 compared to Q4 2011 compared to 2011
    ———————————- ——————- —————-
    PC Client Platform
    Unit Volumes (4%) (6%) (1%)
    Average Selling Prices 2% 0% (2%)
    Data Center Platform
    Unit Volumes 0% (1%) (1%)
    Average Selling Prices 8% 5% 6%
    PC Client Group Notebook and Desktop Platform Key Drivers
    ———————————————————-
    -Notebook platform average selling prices decreased 6% from 2011 to
    2012
    -Notebook platform volumes increased 2% from 2011 to 2012
    -Desktop platform average selling prices increased 4% from 2011 to
    2012
    -Desktop platform volume decreased 5% from 2011 to 2012

    INTEL CORPORATION
    SUPPLEMENTAL RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS
    In addition to disclosing financial results in accordance with
    United States (U.S.) generally accepted accounting principles
    (GAAP), this document contains non-GAAP financial measures that we
    believe are helpful in understanding and comparing our past
    financial performance and our expectations for future results. The
    non-GAAP financial measures disclosed by the company exclude the
    amortization of acquisition-related intangible assets, as well as
    the related income tax effect. Amortization of acquisition-related
    intangible assets consists of the amortization of developed
    technology, trade names, and customer relationships acquired in
    connection with business combinations. We record charges relating to
    the amortization of these intangibles in our GAAP financial
    statements. Amortization charges for our acquisition-related
    intangible assets are inconsistent in size and are significantly
    impacted by the timing and valuation of our acquisitions.
    Consequently, our non-GAAP adjustment excludes these charges to
    facilitate an evaluation of our current operating performance and
    comparisons to our past operating performance.
    Set forth below are reconciliations of the non-GAAP financial
    measures to the most directly comparable GAAP financial measures.
    The non-GAAP financial measures disclosed by the company have
    limitations and should not be considered a substitute for, or
    superior to, financial measures prepared in accordance with GAAP,
    and the financial results prepared in accordance with GAAP and
    reconciliations from these results should be carefully evaluated.
    Management believes the non-GAAP financial measures are appropriate
    for period to period comparisons in our budget, planning and
    evaluation processes, and to show the reader how our performance
    compares to other periods.
    (In millions, except per share amounts)
    Three Months Ended Twelve Months Ended
    ————————- ————————-
    Dec 29, Dec 31, Dec 29, Dec 31,
    2012 2011 2012 2011
    ———— ———— ———— ————
    GAAP GROSS MARGIN $ 7,817 $ 8,952 $ 33,151 $ 33,757
    Adjustment for the amortization of acquisition-related intangibles 137 137 557 482
    —— —— —— ——
    NON-GAAP GROSS MARGIN $ 7,954 $ 9,089 $ 33,708 $ 34,239
    GAAP GROSS MARGIN PERCENTAGE 58.0% 64.5% 62.1% 62.5%
    Adjustment for the amortization of acquisition-related intangibles 1.0% 0.9% 1.1% 0.9%
    —— —— —— ——
    NON-GAAP GROSS MARGIN PERCENTAGE 59.0% 65.4% 63.2% 63.4%
    GAAP OPERATING INCOME $ 3,155 $ 4,599 $ 14,638 $ 17,477
    Adjustment for the amortization of acquisition-related intangibles 212 209 865 742
    —— —— —— ——
    NON-GAAP OPERATING INCOME $ 3,367 $ 4,808 $ 15,503 $ 18,219
    GAAP NET INCOME $ 2,468 $ 3,360 $ 11,005 $ 12,942
    Adjustment for:
    Amortization of acquisition-related intangibles 212 209 865 742
    Income tax effect (71) (46) (290) (160)
    —— —— —— ——
    NON-GAAP NET INCOME $ 2,609 $ 3,523 $ 11,580 $ 13,524
    GAAP DILUTED EARNINGS PER COMMON SHARE $ 0.48 $ 0.64 $ 2.13 $ 2.39
    Adjustment for:
    Amortization of acquisition-related intangibles 0.04 0.04 0.17 0.14
    Income tax effect (0.01) (0.01) (0.06) (0.03)
    —— —— —— ——
    NON-GAAP DILUTED EARNINGS PER COMMON SHARE $ 0.51 $ 0.67 $ 2.24 $ 2.50

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    Via: Business Insider

    Source: Intel

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