Intel celebrates record FY 2010

Processor giant predicts 2011 will be even better

Intel has hailed 2010 as the best financial year in the company’s history, with operating profit up a whopping 179 per cent.

For the quarter ended 25 December 2010 the chip giant posted revenue of $11.5bn (£7.3bn), up three per cent on Q4 2009 and non-GAAP net profit stood at $11.7bn, a 76 per cent increase.

Revenue for the full year stood at $43.6bn, up 24 per cent on 2009 and net profit hit $11.7bn, 167 per cent higher than last year.

Paul Otellini, chief executive of Intel, said: “2010 was the best year in Intel’s history. We believe that 2011 will be even better.”

Other key financial information for 2010 includes a 21 per cent increase in PC client group revenue, datacentre group revenue up 35 per cent, other architecture group revenue up 27 per cent and Intel Atom microprocessor and chipset revenue up eight per cent to $1.6bn.

The company used $1.5bn to repurchase 70 million shares of common stock. Looking forwards, it predicted revenue of $11.5bn for its first quarter of FY 2011, with gross margin percentage hitting 64 per cent. Its figures did not account for any acquisitions that might take place this year.