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Intel Reports Fourth-Quarter and Full-Year 2017 Financial Results
Source: Intel   Editor: Helan   Update Time :2018/1/26 16:36:50

Intel Corporation today reported full-year and fourth-quarter 2017 financial results. The company also announced that its board of directors has approved an increase in its cash dividend to $1.20 per-share on an annual basis, a 10 percent increase. The board also declared a quarterly dividend of $0.30 per-share on the company's common stock, which will be payable on March 1 to shareholders of record on February 7.

"2017 was a record year for Intel with record fourth-quarter results driven by strong growth of our data-centric businesses," said Brian Krzanich, Intel CEO. "The strategic investments we've made in areas like memory, programmable solutions, communications and autonomous driving are starting to pay off and expand Intel's growth opportunity. In 2018, our highest priorities will be executing to our data-centric strategy and meeting the commitments we make to our shareholders and our customers."

"The fourth quarter was an outstanding finish to another record year. Compared to the expectations we set, our revenue was stronger, our operating margins were higher, and our spending was lower," said Bob Swan, Intel CFO. "Intel's PC-centric business continued to execute well in a declining market while the growth of our data-centric businesses shows Intel's transformation is on track."

Intel's fourth-quarter results reflect an income tax expense of $5.4 billion as a result of the U.S. corporate tax reform enacted in December. This includes a one-time, required transition tax on our previously untaxed foreign earnings, which was partially offset by the re-measurement of deferred taxes using the new U.S. statutory tax rate. Looking ahead, the company is forecasting a 2018 tax rate of 14 percent as the Tax Cuts and Jobs Act helps level the playing field for U.S. manufacturers like Intel that compete in today's global economy.

"Intel has a rich history of investing in U.S.-led research and development and U.S. manufacturing," said Swan. "The tax reform is further incentive to continue these investments and reinforces our decision to invest in the build-out of our Arizona factory. It also informed the dividend increase we're announcing today."

For the full year, the company generated a record $22.1 billion cash from operations, and paid dividends of $5.1 billion.

Business Unit Summary

In the fourth quarter, Intel saw strong performance from data-centric businesses, which accounted for 47% of Intel's fourth-quarter revenue, an all-time high. The Data Center Group (DCG), Internet of Things Group (IOTG) and Programmable Solutions Group (PSG) all achieved record quarterly revenue. Intel's Client Computing Group (CCG) shipped a record volume of Intel Core i7 processors, launched the new 8th Gen Intel Core processor with Radeon RX Vega M Graphics, and announced an expanding line-up of LTE and 5G multi-mode modems. The Non-Volatile Memory Solutions Group (NSG) launched the new Intel Optane SSD DC P4800X Series for the data center.

The company is also advancing efforts to compete and win in artificial intelligence with the Intel Nervana Neural Network Processor, customer momentum for its Intel Movidius vision processing unit (VPU), and continued customer adoption of Intel Xeon Scalable processors. In autonomous driving, Mobileye had a strong finish to 2017 with a total of 30 ADAS customer designs wins as well as design wins for advanced L2+ and L3 autonomous systems with 11 automakers.

Business Outlook

Intel's guidance for the first-quarter and full-year 2018 include both GAAP and non-GAAP estimates. Reconciliations between these GAAP and non-GAAP financial measures are included below. Intel's Business Outlook does not include the potential impact of any business combinations, asset acquisitions, divestitures, strategic investments and other significant transactions that may be completed after January 25, 2018.

 

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