Chip giant Intel grew its turnover by 23 per cent to $5.14 billion in its third quarter, on a turnover of $14.41 billion, representing a gross profit margin of 57 per cent.
Andrew Grove, president and CEO of Intel, said that sales and acceptance of both Pentium and Pentium Pro chips accounted for the increased business. Growth remained strong in Intel?s Asia Pacific region, which accounted for 21 per cent of its sales. US revenues rose to 42 per cent while Japan represented 11 per cent of business.
But European growth was flat. It only accounted for 26 per cent of Intel business, compared to 30 per cent in its second quarter.
Intel said its exceptionally high gross margin was due to a ?favourable? product mix, no stock write-offs and no high royalties in the period. Sales of Intel motherboards compared to its chips fell compared to the second quarter. Volumes of flash memory, embedded CPUs and controllers also fell.
The company now employs 46,000 people worldwide. This time last year Intel had 40,000 people on its payroll. It has $6.12 billion cash in the bank.
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