Intel Corp (INTC)

[ChipGeek]

Re: .27 ex items

Actually, it's 0.27 excluding stock-based compensation, which they are still mentioning to give an accurate comparison to last year.

The one-time items actually contribute to earnings:

"Operating results included a gain of approximately $100 million from the sale of a portion of an investment in Micron Technology, gains from divestitures of approximately $130 million and a restructuring charge of $98 million. These items resulted in a net positive impact to EPS of approximately 1.5 cents."

So excluding one-time charges, EPS is more like 20.5 cents. That's how I'm reading it, anyway. Still good, but the inventory writedown kept it from being a knockout quarter, IMO.

http://www.intel.com/intel/finance/earnings/IntelQ32006EarningsRelease.pdf