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Wednesday, April 17, 2013

Intel reports Q1 earnings: $12.6 billion revenue, $2 billion net income

Intel just reported a quarterly net income of $2 billion, with $12.6 billion in revenue for a total earnings of 40 cents per share. Net income is down 17 percent compared to Q4 2012, when the company reported $2.5 billion in profit. Revenue is also down by seven percent compared to the previous quarter's $13.5 billion. President and CEO Paul Otellini, who is stepping down in May, references the upcoming 14nm transition, saying that the technology will "will significantly increase the value provided by Intel architecture and process technology for our customers and in the marketplace." The earnings call is set to happen soon; we'll report back with any additional news -- on the CEO front or otherwise.

Show full PR text

SANTA CLARA, Calif., Apr. 16, 2013 – Intel Corporation today reported first-quarter revenue of $12.6 billion, operating income of $2.5 billion, net income of $2.0 billion and EPS of $0.40. The company generated approximately $4.3 billion in cash from operations, paid dividends of $1.1 billion, and used $533 million to repurchase 25 million shares of stock.

"Amidst market softness, Intel performed well in the first quarter and I'm excited about what lies ahead for the company," said Paul Otellini, Intel president and CEO. "We shipped our next generation PC microprocessors, introduced a new family of products for micro-servers and will ship our new tablet and smartphone microprocessors this quarter. We are working with our customers to introduce innovative new products across multiple operating systems. The transition to 14nm technology this year will significantly increase the value provided by Intel architecture and process technology for our customers and in the marketplace."

Q1 Key Financial Information and Business Unit Trends

PC Client Group revenue of $8.0 billion, down 6.6 percent sequentially and down 6.0 percent year-over-year.
Data Center Group revenue of $2.6 billion, down 6.9 percent sequentially and up 7.5 percent year-over-year.
Other Intel® Architecture Group revenue of $1.0 billion, down 3.9 percent sequentially and down 9.0 percent year-over-year.
Gross margin of 56 percent, down 2 percentage points sequentially and down 8 percentage points year-over-year.
R&D plus MG&A spending of $4.5 billion, in line with the company's expectation of approximately $4.6 billion.
Tax rate of 16 percent.

Business Outlook
Intel's Business Outlook does not include the potential impact of any business combinations, asset acquisitions, divestitures or other investments that may be completed after April 16.

Q2 2013
Revenue: $12.9 billion, plus or minus $500 million.
Gross margin percentage: 58 percent, plus or minus a couple percentage points.
R&D plus MG&A spending: approximately $4.7 billion.
Amortization of acquisition-related intangibles: approximately $70 million.
Impact of equity investments and interest and other: approximately zero.
Depreciation: approximately $1.7 billion.

Full-Year 2013
Revenue: low single-digit percentage increase, unchanged from prior expectations.
Gross margin percentage: 60 percent, plus or minus a few percentage points, unchanged from prior expectations.
R&D plus MG&A spending: $18.9 billion, plus or minus $200 million, unchanged from prior expectations.
Amortization of acquisition-related intangibles: approximately $300 million, unchanged from prior expectations.
Depreciation: $6.8 billion, plus or minus $100 million, unchanged from prior expectations.
Tax Rate: approximately 27 percent for each of the remaining quarters of the year.
Full-year capital spending: $12.0 billion, plus or minus $500 million, down $1.0 billion from prior expectations.

For additional information regarding Intel's results and Business Outlook, please see the CFO commentary at: www.intc.com/results.cfm.

Status of Business Outlook
Intel's Business Outlook is posted on intc.com and may be reiterated in public or private meetings with investors and others. The Business Outlook will be effective through the close of business June 14 unless earlier updated; except that the Business Outlook for amortization of acquisition-related intangibles, impact of equity investments and interest and other, and tax rate, will be effective only through the close of business on April 23. Intel's Quiet Period will start from the close of business on June 14 until publication of the company's second-quarter earnings release, scheduled for July 17, 2013. During the Quiet Period, all of the Business Outlook and other forward-looking statements disclosed in the company's news releases and filings with the SEC should be considered as historical, speaking as of prior to the Quiet Period only and not subject to an update by the company.

Source: Intel Newsroom

Saturday, April 13, 2013

AAP reports e-books now account for over 22 percent of US publishers' revenue

It's well off the triple year-over-year growth that e-books saw a few years ago, but the latest report from the Association of American Publishers shows that e-books did inch up even further in 2012 to account for a sizeable chunk of overall book sales. According to its figures, e-books now represent 22.55 percent of US publishers' total revenue -- up from just under 17 percent in 2011 -- an increase that helped push net revenue from all book sales up 6.2 percent to $7.1 billion for the year. As the AAP notes, this report also happens to mark the tenth anniversary of its annual tracking of e-book sales; back at the beginning in 2002, their share of publishers' net revenue clocked in at a mere 0.05 percent. The group does caution that the year-to-year comparison back that far is somewhat anecdotal, however, given changing methodologies and definitions of e-books.

Via: The Next Web

Source: AAP

More Coverage: PaidContent

Monday, April 8, 2013

HTC pays price for One delays, reports worst quarterly profit so far in Q1 2013

Instead of reaping the rewards of putting out a lovely new flagship, HTC has just reported its lowest ever profit -- a mere $2.8 million in unaudited net income -- during the first three months of this year. That compares to $173 million in the same quarter of last year, representing a pretty catastrophic fall of around 98 percent. Underlying revenue dropped by a third to $1.4 billion. The reason? The top-end smartphone on which the company's fortunes currently rest, the HTC One, mostly missed its scheduled global arrival date in March due to manufacturing delays, so it effectively didn't exist during the period in question. It has only just become available to pre-order in the US and won't start shipping to customers until April 19th. At this rate, the HTC First -- the manufacturer's second big announcement of the year -- might actually deserve its name.

Source: Bloomberg, HTC

Friday, February 1, 2013

Panasonic remembers how to make money, reports $667 million profit last quarter

Panasonic remembers how to make money, thanks to weaker yen and costcutting

Just as Sharp offered a slightly more hopeful glimpse at its balance sheet this morning, so too does Panasonic have something worth celebrating: a net profit of 61.4 billion yen ($667 million) in the last three months of 2012. Much of this profit stems from a weaker yen and previous cost-cutting exercises, however, rather than any surge in demand for Panny products -- in fact, underlying sales continued to slip, with cameras, TVs and Blu-ray recorders proving especially hard to shift. Nevertheless, compared to the meager $164 million Panasonic made at the start of 2012, or the ego-crushing $2.1 billion net loss it suffered in the last three months of 2011, no one in that big HQ is likely to be complaining.

when.eng("eng.perm.init")

Friday, January 25, 2013

Microsoft reports Q2 2013 earnings: posts record revenue of $21.5 billion, $6.38 billion profit (update)

Microsoft Reports Record Revenue of $21.5 Billion in Second Quarter
Strong business demand and key product launches drive record revenue.

REDMOND, Wash. - Jan. 24, 2013 - Microsoft Corp. today announced quarterly revenue of $21.46 billion for the quarter ended December 31, 2012. Operating income, net income, and diluted earnings per share for the quarter were $7.77 billion, $6.38 billion, and $0.76 per share.

These financial results reflect the net deferral of revenue for the Windows Upgrade Offer, Office Upgrade Offer and Pre-sales, and the Entertainment and Devices Division Video Game Deferral, partially offset by the recognition of previously deferred revenue for Windows 8 Pre-sales. The following table reconciles these financial results reported in accordance with generally accepted accounting principles (GAAP) to non-GAAP financial results. We have provided this non-GAAP financial information to aid investors in better understanding the company's performance.

"Our big, bold ambition to reimagine Windows as well as launch Surface and Windows Phone 8 has sparked growing enthusiasm with our customers and unprecedented opportunity and creativity with our partners and developers," said Steve Ballmer, chief executive officer at Microsoft. "With new Windows devices, including Surface Pro, and the new Office on the horizon, we'll continue to drive excitement for the Windows ecosystem and deliver our software through devices and services people love and businesses need."

The Windows Division posted revenue of $5.88 billion, a 24% increase from the prior year period. Adjusting for the net deferral of revenue for the Windows Upgrade Offer and the recognition of the previously deferred revenue from Windows 8 Pre-sales, Windows Division non-GAAP revenue increased 11% for the second quarter. Microsoft has sold over 60 million Windows 8 licenses to date.

"We saw strong growth in our enterprise business driven by multi-year commitments to the Microsoft platform, which positions us well for long-term growth," said Peter Klein, chief financial officer at Microsoft. "Multi-year licensing revenue grew double-digits across Windows, Server & Tools, and the Microsoft Business Division."

The Server & Tools business reported $5.19 billion of revenue, a 9% increase from the prior year period, driven by double-digit percentage revenue growth in SQL Server and System Center.

"We see strong momentum in our enterprise business. With the launch of SQL Server 2012 and Windows Server 2012, we continue to see healthy growth in our data platform and infrastructure businesses and win share from our competitors," said Kevin Turner, chief operating officer at Microsoft. "With the coming launch of the new Office, we will provide a cloud-enabled suite of products that will deliver unparalleled productivity and flexibility."

The Microsoft Business Division posted $5.69 billion of revenue, a 10% decrease from the prior year period. Adjusting for the impact of the Office Upgrade Offer and Pre-sales, Microsoft Business Division non-GAAP revenue increased 3% for the second quarter. Revenue from Microsoft's productivity server offerings – collectively including Lync, SharePoint, and Exchange – continued double-digit percentage growth.

The Online Services Division reported revenue of $869 million, an 11% increase from the prior year period. Online advertising revenue grew 15% driven by an increase in revenue per search.

The Entertainment and Devices Division posted revenue of $3.77 billion, a decrease of 11% from the prior year period. Adjusting for the Video Game Deferral, the division's non-GAAP revenue decreased 2% for the second quarter. Xbox continues to be the top-selling console in the United States. During the quarter, Microsoft launched Windows Phone 8 with a broad array of carriers and devices.

Business Outlook

Microsoft reaffirms fiscal year 2013 operating expense guidance of $30.3 billion to $30.9 billion.

Webcast Details

Peter Klein, chief financial officer, Frank Brod, chief accounting officer, and Chris Suh, general manager of Investor Relations, will host a conference call and webcast at 2:30 p.m. PST (5:30 p.m. EST) today to discuss details of the company's performance for the quarter and certain forward-looking information. The session may be accessed at http://www.microsoft.com/investor. The webcast will be available for replay through the close of business on Jan. 24, 2014.

Adjusted Financial Results and Non-GAAP Measures

For second quarter fiscal year 2013 GAAP revenue, operating income, and earnings per share growth included the net deferral of revenue for the Windows Upgrade Offer, the Office Upgrade Offer and Pre-sales, and the Entertainment and Devices Division Video Game Deferral, and the recognition of previously deferred revenue for Windows 8 Pre-sales. These items are defined in our Form 10-Q for the quarterly period ended December 31, 2012. In addition to these financial results reported in accordance with generally accepted accounting principles (GAAP), we have provided certain non-GAAP financial information to aid investors in better understanding the company's performance. Presenting these measures without the impact of these items gives additional insight into operational performance and helps clarify trends affecting the company's business. For comparability of reporting, management considers this information in conjunction with GAAP amounts in evaluating business performance. These non-GAAP financial measures should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.

Sourse

By: Dilusha On 9:53 AM

Samsung reports $8.27 billion in profits for Q4 2012

Samsung Electronics Announces Earnings for Fourth Quarter in 2012 on 4Q consolidated operating profit reaches 8.84 trillion won on revenues of 56.06 trillion won

SEOUL, Korea – January 25, 2013 – Samsung Electronics Co., Ltd. today announced revenues of 56.06 trillion Korean won on a consolidated basis for the fourth quarter ended December 31, 2012, a 7-percent increase quarter-on-quarter. Consolidated operating profit for the quarter hit 8.84 trillion won, representing a 10-percent increase on-quarter, while consolidated net profit for the same quarter was 7.04 trillion won.

The full-year 2012 operating profit was 29.05 trillion won on revenue of 201.10 trillion won.

In its earnings guidance disclosed on January 8, Samsung estimated fourth quarter consolidated revenues would reach approximately 56 trillion won with consolidated operating profit of approximately 8.8 trillion won.

Highlighting the quarterly performance, Mobile Communications generated quarterly revenues of 27.23 trillion won, a 4-percent increase compared with the previous quarter. The growth was mainly driven by solid sales of Samsung's GALAXY S IIl and GALAXY Note ll. All told, operating profit for IT & Mobile Communications, which encompasses four business units including Mobile Communications, was 5.44 trillion won on revenues of 31.32 trillion won.

"Despite uncertainties in Europe and concerns over the U.S. fiscal cliff creating a difficult business environment, we did our best this quarter to achieve strong earnings based on a strategic focus on differentiated and high value-added products as well as our technological competitiveness," said Robert Yi, Senior Vice President and Head of Investor Relations.

"Heading into this year, we are expecting a slow recovery in the component business due to reduced capital expenditures, while competition in the set business will intensify further as demand slows and the mid- to low-end market expands," he added. Mr. Yi also expressed caution over the continued strength of the Korean won in 2013.

Samsung's standout lineup of LED TVs, including premium models targeting advanced markets and TVs tailored to emerging markets, has also improved quarter-on-quarter earnings. Although demand for home appliances retreated in the December quarter due to a tepid global economy, Samsung saw increased sales of high-end refrigerators and washers in the U.S. and in European markets.

On the components business side, demand for PC DRAM remained weak but growth of high value-added products such as server and mobile DRAM was constant due to increased sales of mobile devices. While the Semiconductor Business landed profits in the quarter, the Display Panel segment struggled, as demand for IT panels for notebooks and monitors remained slow. On the other hand, profitability in LCD panels for TVs and OLED panels for smartphones prevented wider losses.

As for this year's capital expenditure, the size of investment is expected to be similar to that of 2012's.The weakening global economic recovery and looming market uncertainties are anticipated to weigh on plans for investment and performance this year, but despite global economic jitters, Samsung will respond to the market's ebb and flow with a capex plan that is flexible in manner.

Differentiated Product Mix to Alleviate Chip Supply Squeeze

Samsung's Semiconductor Businesses – including Memory and System LSI – posted consolidated 9.59 trillion won in revenue, a 10-percent hike from a quarter earlier. The Memory chip unit accounted for 5.33 trillion won in earnings and with the logic chip unit yielded 1.42 trillion won in operating profits, up 39 percent on-quarter

The Semiconductor Business sustained profitability in the quarter, amid weak market demand, thanks to a mix of high-margin products such as servers and Solid State Drives (SSDs) coupled with differentiated 20-nanometer class NAND flash chips. A competitive edge in mobile application processors for smartphones and tablet PCs also contributed to the bottom line.

Looking ahead, demand for memory chips is expected to be stifled in the first quarter, due to the seasonably weak demand for PCs and mobile devices. However, for the remainder of 2013, high value-added DRAM for mobile devices and servers will sustain profitability. Demand for logic products and NAND solutions including SSDs will remain strong throughout the year, as the industry puts greater emphasis on devices with higher capacity, greater processing power and mobility.

High-End Panels Secure Stability

The Display Panel Business recorded an operating profit of 1.11 trillion won on revenue of 7.75 trillion won in the fourth quarter. This represented a 5-percent decline in profits compared with the previous quarter but was up from the corresponding quarter of 2011.

Despite slower-than-expected economic recovery in developed markets, panel demand in China and emerging economies remained favorable in the quarter. This was led by solid sales of TV and tablet panels which offset the slowdown in notebook and monitor panel demand.

Samsung was able to secure stable growth for the quarter with an improved product mix and strengthened sales of high-end panels. Sales of LED and narrow bezel panels for premium TVs continued to grow, although the company's TV panel sales dropped in the mid single-digit percentage range from the same period last year. However, increased sales of tablet panels as well as OLED panels for premium smartphones contributed to steady growth.

Looking ahead to 2013, the company expects the market for large-size TV panels, those over 60 inches in size, to grow. Strong sales of tablet panels are also forecast to continue throughout the year. For the first quarter, however, panel demand is expected to be adversely affected by off-peak seasonality before recovering in March with new TV and tablet product launches by manufactures.

Emerging Markets, a Silver Lining

The IT & Mobile Communications – comprised of Mobile Communications, Telecommunication Systems, Digital Imaging and Media Solution Center businesses – posted operating profits of 5.44 trillion won on 31.32 trillion won in revenue for the period. Out of the total IM earnings, the handset-making unit claimed 27.23 trillion won in revenue in the October-December quarter.

Samsung led gains with its full lineup of entry- to mid-level smartphones, expanded sales of tablet PCs and an increase in average selling price (ASP) from the previous quarter. The success was mainly brought on by strong sales of GALAXY S III and GALAXY Note II, which beat the popularity of their predecessors with record sales in record time.

In contrast, growth in network and IT-related IM businesses was stunted by heated pricing in the fourth quarter. On a brighter note, sales of Long Term Evolution (LTE) wireless broadband technology equipment continued gains while revenue from overseas sales of notebook PCs improved.

The furious growth spurt seen in the global smartphone market last year is expected to be pacified by intensifying price competition compounded by a slew of new products. In the first quarter, demand for smartphones in developed countries is expected to decelerate, while their emerging counterparts will see their markets escalate with the introduction of more affordable smartphones and a bigger appetite for tablet PCs throughout the year.

LED TVs Drive Growth

The Consumer Electronics Division – encompassing the Visual Display and Digital Appliances businesses – posted revenue of 13.95 trillion won for the quarter, up 20 percent quarter-on-quarter. The operating profit of 740 billion won amounted to an increase of 87 percent on the previous quarter and an increase on-year.

Lifted by peak season sales, the market experienced stronger demand for TV products in both developed and emerging markets as LED TV sales drove overall market growth of over 40 percent on-quarter. Backed by favorable market conditions, Samsung outperformed the market for LED TVs with on-quarter growth of more than 50 percent. This was achieved by the company's differentiated strategy of focusing on premium models for developed economies and region-specific models in emerging markets.

Heading into 2013, sales will be led by emerging economies and the LED TV segment, which will expand its proportion of total TV sales into the mid-80 percent range. In the first quarter, the company expects off-peak seasonality to dampen on-quarter growth, although demand will be up in comparison with the previous year.

For the Digital Appliances market, although global economic conditions pushed demand down on the previous quarter, Samsung was able to expand sales of premium refrigerators and washing machines as the company experienced growth in developed markets such as Europe and the U.S. Looking ahead, the company expects moderate growth in emerging markets while low growth is likely to continue in developed economies.

About Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. is a global leader in consumer electronics and the core components that go into them. Through relentless innovation and discovery, we are transforming the worlds of televisions, smartphones, personal computers, printers, cameras, home appliances, medical devices, semiconductors and LED solutions. We employ 227,000 people across 75 countries with annual sales exceeding US$143 billion. Our goal is opening new possibilities for people everywhere. To discover more, please visit www.samsung.com.

Sourse

By: Dilusha On 9:07 AM

Sunday, December 16, 2012

Google reports copyright takedown requests spiked in 2012

Publicly posting takedown notices sparked corporate interest in search copyright protection

A post on Google's Policy by the Numbers blog this week indicated that the amount of copyright takedown requests grew ten times between May and November.

Fred Von Lohmann, Legal Director at Google, wrote that in May 2012, when the Mountain View-based search giant start posting copyright infringement link removal notices, it processed around 250,000 requests a week.

As of November 2012, Google sees 2.5 million requests each week, and removes 97.5% of all the links requested for removal.

The company's legal department says that its average response time to copyright queries, even with the major uptick in requests, is around six hours.

A brief look at the Transparency Report, the feature that Google launched in May, opens up a detailed, publicly available view of all the biggest copyright holders.

The Recording Industry Association of America (RIAA) members sit firmly at the top of the list, representing almost 2.5 million recognized copyrights.

RIAA members include Sony Music Entertainment, Universal Music Group, and Warner Music Group, among others. Fox and Microsoft also find top spots on the list.

On the other side of the copyright battlefield are the top offenders of posting copyrighted material. Filestube.com, sumotorrent.com, and torrentz.eu.

To date, almost 12.3 million URLs have been removed from search circulation by Google for copyright violation.

Via The Verge

Tuesday, November 13, 2012

Reports claim LTE iPad 4 ship date set for Friday

Reports claim LTE iPad 4 ship date set for Nov. 16

Yes, it's a smaller iPad

The last two weeks or so have been a bumpy ride for Apple customers who bought an iPad 4 or iPad mini with cellular LTE capabilities.

Apple neglected to nail down a solid release date for the LTE iPads, instead proclaiming vague time frames like "mid-November."

But on Monday morning, a report claimed that some customers had been notified that they would receive their LTE iPad 4 tablets Friday, Nov. 16.

Apple initially promised to ship the Wi-Fi + Cellular versions of the iPad 4 and iPad mini within two weeks of the Wi-Fi models going out on Nov. 2, and a Nov. 16 arrival date fits within that projection.

Apple's initial promise to ship the new LTE iPads within two weeks of Nov. 2 seemed like it would prove inaccurate in late October when some customers reported expected arrival times as late as Nov. 23.

On Halloween, customers reported that those new iPad ship dates disappeared, replaced by the noncommittal "mid-November."

Then, on Friday, Apple reportedly began notifying customers that LTE-enabled iPad mini models would begin shipping within five business days, while Apple offered a "seven business days" time frame for the LTE iPad 4.

With Monday's claims pointing to Friday as the day customers will see the LTE iPad with Retina display, those reports wouldn't be too far off.

The new iPad mini and iPad 4 went up for pre-order in late October, and Apple reported in the first week of November that three million of the new tablet models had already been sold.

However, reports late last month also claimed that iPad mini screen shortages could possibly limit supplies for some time.

The Wi-Fi + Cellular model of the iPad 4 costs $629 (UK£499, AUD$679), $729 (UK£579, AUD$789) and $829 (UK£659, AUD$899) for 16GB, 32GB and 64GB, respectively.

The iPad mini with LTE, meanwhile, comes in at $459 (UK£369, AUD$509), $559 (UK£449, AUD$619) and $659 (UK£529, AUD$729) for the same storage capacities.

Via 9to5Mac