8-KEarnings & Results

INTEL CORP 8-K Report, Financial Results (Oct 17, 2012)

Filed October 17, 2012For Securities:INTC

Summary

Intel Corporation filed an 8-K on October 17, 2012, reporting on its financial results for the quarter ended September 29, 2012, and providing an outlook for the fourth quarter of 2012. The filing primarily incorporates by reference financial information and commentary previously posted on the company's investor website. This report is notable for its use of both Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures, with management providing explanations for the utility of these non-GAAP metrics in understanding the company's performance. Investors should pay close attention to the reconciliations provided, as non-GAAP measures, while useful, should not supersede GAAP figures in their analysis.

Key Highlights

  • 1Intel announced its financial results for the third quarter of 2012 and provided forward-looking guidance for the fourth quarter of 2012.
  • 2The filing incorporates by reference a presentation by Stacy J. Smith, Senior Vice President and Chief Financial Officer, from Intel's investor website.
  • 3The report discloses both GAAP and non-GAAP financial measures, including gross margin, operating income, net income, and diluted earnings per share.
  • 4Intel explains management's use of non-GAAP financial measures and why they are considered useful for investors.
  • 5The company emphasizes that non-GAAP financial information has limitations and should not be considered a substitute for GAAP measures.
  • 6Reconciliations between GAAP and non-GAAP results are included in the attached Exhibit 99.1 for the current and prior periods, as well as for forward-looking outlooks.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially report Intel Corporation's financial results for the quarter ended September 29, 2012, and to provide financial guidance for the fourth quarter of 2012, as previously communicated on their investor website.

Non-GAAP financial measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) results. Intel uses them because management believes they provide useful insights into the company's operational performance by excluding items that may not be indicative of ongoing business trends. The filing includes explanations for their use and utility.

Detailed financial information, commentary from the CFO, and reconciliations between GAAP and non-GAAP results for the current and prior periods, as well as for the forward-looking outlook, are provided in Exhibit 99.1, which is incorporated by reference into this 8-K filing.

No, investors should not rely solely on non-GAAP financial measures. The filing explicitly states that non-GAAP financial information has limitations and should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. A comprehensive analysis should include both.