Intel profits down massively

Intel profits down massively

US based microprocessor manufacturer Intel has stated a 90% drop in fourth-quarter earnings.

This was very much expected as the semiconductor industry is facing lack of demand.

Intel said that their net income in the quarter ending in December was around $234 million, or 4 cents per share.

This is down massively from earnings of $2.27 billion in the same period in 2007.

The sales were also down in this period to $8.2 billion from $10.7 billion a year ago.

The company said that they are not providing a revenue outlook at this time because of the uncertainties in the market.

They are however aiming for a first-quarter revenue “in the vicinity of $7 billion.”