STOCK WATCH

Intel predicts improved Q3 results

Chip giant Intel surprised Wall Street last week when it told investors it was expecting its third-quarter earnings to be better than expected. In a statement issued on 10 September, Intel revealed that revenue was expected to be between eight and 10 per cent above the $5.9 billion it showed in the second quarter of this year.

National Semiconductor
National Semiconductor has taken the full brunt of the slump in chip prices when it made a net loss of $104.8 million, compared with a profit of $62 million last year. The manufacturer said it remained cautious about the short-term prospects as gross margins had been hit by reduced factory utilisation.

Adobe
Desktop publisher specialist Adobe saw its earnings remain flat when it achieved third-quarter revenue of $222.9 million, in line with sales of $230 million last year. In the quarter ended 28 August, Adobe's profit was #152,000, compared with $53.4 million last year.

Logica
UK software and services company Logica has reported record profits for the fourth successive year, with pre-tax profit rising by nearly half for the year ended 30 June. Revenue for the year rose 40 per cent, from last year's $338 million to $473 million, while pre-tax profits increased 49 per cent to #42 million from #28 million.

Vanstar
Retail and consulting company VanStar made first-quarter net losses of $104 million, down from a profit of $6.6 million. Sales slipped 3.7 per cent to $655.2 million.

Dixons Group
Dixons Group issued a statement that total retail sales have achieved levels 14 per cent higher than the comparable period last year. The retailer highlighted sales of PCs and communication products as 'encouraging'.

Druid Group
Management consultancy Druid Group has achieved a 84 per cent increase in turnover to #40.6 million and pre-tax profit up 61 per cent to #8 million.

Sema Group
Sema Group revealed that its turnover for the six months ended 30 June was #610.6 million and its pre-tax profit #31.1 million. The company said its margins had improved, with product turnover up 22 per cent.