INTEL, the world's largest manufacturer of microprocessors, yesterday reported little change in net income in the first quarter of 1996 compared with the same period a year earlier. The company employs 2,200 people at its plant in Leixlip.
The company said income for the first three months of the year amounted to $894 million (£569 million), against $889 million in the first quarter of 1995.
First quarter revenue was $4.64 billion, up from $3.56 billion in the first quarter of last year.
Earnings per share were equal to $1.02 for the first quarter of 1995, but the company pointed out that last year's first quarter included an $81 million pre tax gain related to the settlement of a lawsuit and the sale of stock in another company.
The quarterly results announce Monday compare with revenue of $4.58 billion, net income of $867 million and earnings per share of 98 cents for the fourth quarter of 1995.
Mr Andrew S Grove, president, and chief executive officer, said: "Our total microprocessor shipments set a new record in the first quarter. From our perspective, PC demand appears to be solid."
In the fourth quarter of 1995 Intel reported earnings below what Wall Street expected.
Personal computer sales slowed in the United States in the last months of 1995 but continued to surge in Asia, industry reports have indicated.
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