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Intel reports fourth quarter 2008 profit drop of 90%

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Intel recorded sharp declines in fourth quarter 2008 earnings, compared to the same period in 2007. The chipmaker ended the last fiscal period on December 27, recording gains of $ 234 million, against $ 2.27 billion recorded at the end of 2007.

Profits were below expectations by Thomson Reuters, which projected something close to $ 257.2 million. Among the results, there was a loss of US $ 1.1 billion in capital investments. Total revenue reached US $ 8.2 billion, down 23% from the end of 2007 and 19% from the third quarter.

Still, its chip line had some highlights during the last fiscal period of last year. Atom, used heavily in netbooks and now corroborated for use in the new Mac mini, grew 50% sequentially over the third quarter, with a share of $ 300 million in total revenue.

"The economic scenario is still uncertain, but Intel is adjusting its business plans to adapt to grow in the future," said Paul Otellini, Intel's president and CEO, in an announcement. The cuts within the company, which have been occurring since 2006, have already reached the mark of US $ 3 billion. "We have overcome difficult times in the past and we know what I need to move forward. Our new technologies and products will help us grow in the market and prosper when the economy recovers," he concluded.

[Via: Macworld.]