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Accounting rules force Intel chip disclosures

No wonder Compaq and Dell are important to Chipzilla

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Changes in the way US corporations have to disclose their financial information have led Intel to release segment information about its business. Similar changes forced IBM last week to show that it had lost $1 billion on PCs last year. According to Intel form 10-K filed with the US Securities and Exchange Commission last Friday, sales to Compaq and Dell accounted for nearly a quarter of all MPU sales in 1998, with 13 per cent and 11 per cent respectively. Overall, Intel's sales of microprocessors accounted for 82 per cent of its turnover, with other elements, including its networking business, only accounting for 18 per cent. According to the filing, the Intel architecture business accounted for $21,545,000,000 of revenue in 1998, while its Computing Enhancement Group, which includes chipsets, embedded products and Flash, turned over $4,047,000,000. The former made an operating profit of $9,077,000,000, while the latter made an operating profit of $358,000,000. However, under the category "All", revenues amounted to $681,000,000, with an effective operating loss of $1,056,000,000. Obviously these "losses" were offset by the big operating profits of its other chip business. The Intel Networking Group does not come under the scope of the new operating rules, nor do some other minor business groups. Intel's next set of financial results comes out on the 14 April. ®

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