Intel Corporation achieved its eighteenth consecutive quarter ofrevenue growth in the first quarter of 1996, up 31% from the similar period a year ago. First quarter revenue was $4.64 billion, up from $3.56 billion in the first quarter of 1995 and net income was $894m compared with $889m for the similar period a year ago. Earnings per share were equal to $1.02 for the first quarter of 1995. Earnings in last year’s first quarter included an $81 million pretax gain (approximately $0.06 per share) related to the settlement of a lawsuit and the sale of stock in another company. Per share amounts for the first quarter of 1995 have been restated to reflect a stock distribution effected as a 2-for-1 split in June 1995. The quarterly results announced today compare with revenue of $4.58 billion, net income of $867m and earnings per share of $0.98 for the fourth quarter of 1995. In the first quarter, the company repurchased a total of 4.1m shares of common stock at a cost of $234 million under an ongoing program. Since the program began in 1990, Intel has repurchased 72.2 million shares for $2.4 billion. Although the company’s book-to- bill ratio was below 1.0 for the quarter, Intel expects revenue for the second quarter of 1996 to be approximately equal to first quarter revenue of $4.64 billion.
