Results
Intel reports Q2 2004 revenues at $8.05bn, an 18% increase on Q2 2003. Net income was $1.8bn, up 96% on Q2 2003. Q3 2004 revenues are expected to be in the range $8.6-9.2bn. Spending rates for the year are not expected to change from the company's budget - $4.8mn for R&D and $3.6-4.0bn for capital expenditure. Gross margin estimates for the year have been cut from 62% to 60%.
AMD reports Q2 2004 sales of $1.262bn, a 96% increase on Q2 2003's $645mn. Net income came in at $32mn, compared with a net loss of $140mn in Q2 2003. The company's Memory group achieved record sales of $673mn, a 220% increase on Q2 2003. Operating income for memory operations came to $45mn. The Computation Product group made sales of $554mn (+36% on Q2 2003) generating an operating income of $58mn (Q2 2003 operating loss $52mn). Under "current outlook", the company merely says "Economic and industry conditions remain uncertain and continue to make it difficult to forecast demand. In Q3 2004, AMD expects sales to increase in each of its two major businesses and total sales to increase moderately."
ASML reports Q2 2004 sales at EUR616mn that compares with EUR329mn for Q2 2003. Net profit was EUR65mn (net loss of EUR64mn in Q2 2003). Order backlog at June 27, 2004, stands at 174 lithography systems (147 new, 27 refurbished). In Q2 2003, the backlog was 62 systems. "We expect that the positive market conditions will stay with us well into 2005," says Doug Dunn, president and CEO. The company anticipates Q3 2004 new unit sales at a similar level to Q2 2004 with the prospect of acceleration in Q4 2004.
