8-KEarnings & Results

INTEL CORP 8-K Report, Financial Results (Jul 13, 2010)

Filed July 13, 2010For Securities:INTC

Summary

Intel Corporation (INTC) filed an 8-K on July 13, 2010, reporting its financial results for the second quarter ended June 26, 2010. The filing primarily incorporates by reference a press release that includes both GAAP and non-GAAP financial measures. Investors should note that the non-GAAP measures exclude a significant €1.06 billion (approximately $1.45 billion) charge incurred in the second quarter of 2009 related to a European Commission fine. Management utilizes these non-GAAP figures to assess the underlying business performance and facilitate period-to-period comparisons, as the EC fine had a substantial impact on comparability. The company provides this information to allow investors to evaluate performance on the same basis as management and to aid in comparing current results with historical data. However, investors are cautioned to consider these non-GAAP measures alongside the official GAAP financial results and reconciliations, as they may not exclude all other income or expenses not part of ongoing business expectations.

Key Highlights

  • 1Intel reported its financial results for the second quarter of 2010, ending June 26, 2010.
  • 2The 8-K filing includes both GAAP and non-GAAP financial measures.
  • 3Non-GAAP measures exclude a significant €1.06 billion (approx. $1.45 billion) charge from a 2009 European Commission fine.
  • 4Management uses non-GAAP measures to evaluate underlying business performance and comparability.
  • 5The company provides non-GAAP information to assist investors in assessing performance on a management basis.
  • 6Investors are advised to review both GAAP and non-GAAP figures, along with reconciliations.
  • 7The filing also includes forward-looking statements related to 2010 and Q3 2010.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Intel Corporation's financial results for the second quarter ended June 26, 2010, and to provide forward-looking statements. It incorporates a press release containing these details.

The non-GAAP financial measures exclude a significant charge of €1.06 billion (approximately $1.45 billion) that Intel incurred in the second quarter of 2009 due to a fine from the European Commission. Management uses these measures to provide a clearer view of the underlying business performance, free from the impact of this specific charge.

Intel provides non-GAAP financial information to enable investors to assess the company's performance on the same basis as management, which helps in evaluating trends and making period-to-period comparisons more easily. It is intended to supplement, not replace, GAAP financial measures.

Investors are advised to carefully evaluate the non-GAAP financial measures in conjunction with the GAAP financial results and the provided reconciliations. They should also be aware that non-GAAP measures may not exclude all other income and expenses that might not be part of ongoing business expectations.