Intel Corp (INTC)

[Elmer Phud]

Intel CEO says '04 revenues to rise 15 pct - paper
Reuters, 02.23.04, 7:53 PM ET



TOKYO, Feb 24 (Reuters) - Intel Corp (nasdaq: INTC - news - people) targets a 15 percent rise in revenues in 2004 from a year ago, Chief Executive Craig Barrett was quoted as saying in an interview with Japanese business daily Nihon Keizai Shimbun, published on Tuesday.

Demand for semiconductors as a whole is growing and similarly, revenues are expected to grow by about 15 percent, Barrett was quoted as saying. The aggressive investments Intel made during the industry downturn in 2001 and 2002 are leading to an increase in the company's earnings, he said.

Intel officials declined immediate comment about the article.

In January, Intel, the world's largest chip maker, reported record quarterly revenue of $8.74 billion for the October-December period, up 22 percent from a year earlier. For the current quarter, Intel forecasts revenue in the range of $7.9 billion to $8.5 billion, versus sales of $7.16 billion a year ago. That would mark growth of between 10 and 19 percent.