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With the defeat of Proposition 211 in California on Tuesday, Intel Corp now feels free to talk about its fourth quarter, which is it now half way through. Intel was the first Californian company to strip forward-looking statements from its results announcement for fear of a gang of lawyers jumping down its throat (CI No 3,015). The Santa Clara, California-based chip giant expects revenues this quarter to be significantly higher than the $5.14bn it did in the third quarter. This quarter is if course boosted each year by Christmas personal computer sales. It expects gross margins to be more than the 57% reported last time as well, despite sales and marketing expenses increasing by between 17% and 20%. Intel’s tax rate will be 35.0%; interest and other income will be between $95m and $100m. The year-end numbers are due January 14 1997

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