• Intel Corporation announced first quarter revenues of $6.8 billion, down 3% sequentially and up 2% year-over-year.
  
  
• For the first quarter, net income was $936 million, up 86% sequentially and up 93% year-over-year. Earnings per share were $0.14, up 100% from $0.07 in both the first and fourth quarters of 2001, including a $0.01 impact from a $155 million charge to cost of sales as a result of the Intergraph Corporation settlement. In accordance with generally accepted accounting principles, earnings in the 2001 periods reflect charges for the amortization of goodwill, which is no longer amortized in the current year with the adoption of FASB Statement No. 142.
  
  
• Net income excluding acquisition-related costs was $1 billion, up 2% sequentially and down 7% year-over-year. First quarter earnings excluding acquisition-related costs were $0.15 per share, flat with the fourth quarter of 2001 and down 6% from the first quarter of 2001.
  

The Intel® Xeon" processor MP at 1.4 GHz, 1.5 GHz and 1.6 GHz brings the Intel NetBurst microarchitecture to 4-way and above servers. The new processor will power mid-tier and back-end server applications, boosting system-level performance by up to 30% compared to multiprocessor systems based on the Intel® Pentium® III Xeon" processor.

Dual-processor CPUs for "ultra-dense" blade servers take advantage of the small size, low power and low heat characteristics of Low Voltage Intel® Pentium® III processors to deliver a high number of processors in a small system chassis.

The first Intel Xeon processors for server computing, designed for 1- to 2-way servers, are also the first to feature Intel's Hyper-Threading technology, and take advantage of Intel NetBurst microarchitecture and 0.13-micron technology.

Intel Communications Group  The company introduced five optical networking components that give telecommunications equipment manufacturers increased flexibility in building 10-Gigabit-per-second optical networking systems. These products span the range of optical networking applications, from enterprise to metro and long-haul market segments. Intel also introduced a family of network processors and a specialized processor for networked storage applicationsall based on the company's Intel® XScale" core microarchitecture. In February, Intel introduced the world's first single-chip Gigabit Ethernet components for desktop PCs, workstations and servers.

Wireless Communications and Computing Group  Intel disclosed plans to introduce its first highly integrated processors for Internet-enabled cell phones later this year. Designed for use with 2.5-GHz wireless services, the devices will include a high-performance, low-power CPU core, analog communications and high-density flash memory. In February, the company introduced microprocessors based on Intel XScale technology that will power multimedia cell phones, handheld computers, in-vehicle (telematics) systems and other wireless Internet products. The Intel® PXA250 and the Intel® PXA210 processors are designed to bring high performance and long battery life to wireless communications devices.

Technology and Manufacturing Group  Intel became the world's first manufacturer to ship 0.13-micron microprocessors built on 300mm wafers. Intel also began producing the Pentium 4 processor on the 0.13-micron, 300mm process, which provides a further 10% die area reduction compared to previous 0.13-micronbased versions. The smaller die size allows Intel to increase output and reduce costs. In March, Intel researchers announced that they have built the world's highest density SRAM chips, with memory cells measuring only one square micron. These chips were manufactured on Intel's next-generation 90-nanometer process technologyan important milestone toward implementing the new process for high-volume microprocessor manufacturing in 2003.