Exhibit 99.1
INTEL SECOND-QUARTER BUSINESS WITHIN EXPECTATIONS
Company Narrows Revenue Range to $6.6 Billion to $6.8 Billion
SANTA CLARA, Calif., June 5, 2003 -- Intel Corporation today provided a scheduled update to the company's Business Outlook for the second quarter, which ends June 28.
Intel expects revenue to be between $6.6 billion and $6.8 billion, as compared to the previous range of $6.4 billion to $7.0 billion. The company's Intel Architecture business is trending to the high end of the normal seasonal pattern while demand for communications products remains soft. All other expectations are unchanged.
Intel's second-quarter Business Outlook was originally published in the company's first-quarter 2003 earnings release, available at www.intc.com. The company will hold a public webcast at 2:30 p.m. PDT today at www.intc.com, with a replay available until July 15.
Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information about Intel is available at www.intel.com/pressroom.
This Business Update and the April 15 Business Outlook are forward looking and involve a number of risks and uncertainties. Demand for Intel's products, which impacts revenue and gross margin, is affected by business and economic conditions as well as computing and communications industry trends and changes in customer ordering patterns. Revenue and the gross margin percentage are affected by competing chip architectures and manufacturing technologies, competing software-compatible microprocessors, pricing pressures and other competitive factors, as well as market acceptance of Intel's new products, and the development and timing of introduction of compelling software applications and operating systems that take advantage of the features of our products.
*Intel is a registered trademark of Intel Corporation or its subsidiaries in the United States and other countries.