Summary
Intel Corporation (INTC) announced a significant change in its financial reporting structure via an 8-K filing on April 13, 2011. Effective with its first-quarter earnings report on April 19, 2011, the company will present its financial results in a new format. This revision is necessitated by the recent and impactful acquisitions of Infineon Wireless Solutions and McAfee Inc., both of which have now been fully integrated into Intel's operations.
Key Highlights
- 1Intel will alter its financial reporting presentation starting with its Q1 2011 earnings release.
- 2The change is driven by the recent closing of the acquisitions of Infineon Wireless Solutions and McAfee Inc.
- 3Infineon Wireless Solutions will be rebranded and operate under the new name 'Intel Mobile Communications'.
- 4This indicates a strategic shift towards integrating these acquired businesses into Intel's core financial reporting.
- 5Investors should expect a different breakdown of revenue and expenses in future earnings reports.
- 6The market will gain more insight into the performance of the mobile communications and security segments.
- 7The disclosure was made via a press release attached as Exhibit 99.1 to the 8-K filing.
Frequently Asked Questions
Intel is changing its financial reporting to reflect the recent acquisitions of Infineon Wireless Solutions and McAfee Inc. The new presentation will integrate the financial results of these acquired businesses.
The revised financial presentation will begin with Intel's first-quarter earnings report, scheduled for release on Tuesday, April 19, 2011.
The acquisitions, particularly Infineon Wireless Solutions (now Intel Mobile Communications) and McAfee Inc., suggest an increased focus and integration into Intel's mobile and security business segments. Investors can expect to see more granular reporting on these areas.
The updated financial reporting format will be available in Intel's Q1 2011 earnings report. The 8-K filing itself includes a press release detailing the upcoming changes.