Intel Corporation (
INTC)
Q4 2009 Earnings Call Transcript
January 14, 2010 5:30 p.m. ET
Executives
Kevin Sellers - Vice President, Investor Relations
Paul S. Otellini - President and Chief Executive Officer
Stacy J. Smith - Vice President and Chief Financial Officer
Analysts
Ross Seymore - Deutsche Bank Securities
Tim Luke - Barclays Capital
Mark Lipacis - Morgan Stanley
Uche Orji - UBS
Doug Freedman - Broadpoint American Technology Research
Adam Benjamin - Jefferies & Co.
Manish Goyal - TIAA-Cref Investment Management LLC
Stacy Rasgon - Sanford C. Bernstein & Co. LLC
Glen Yeung - Citigroup
John Pitzer - Credit Suisse
Sumit Dhanda - Banc of America/Merrill Lynch
James Covello - Goldman Sachs
Graham Y. Tanaka - Tanaka Capital Management
Craig Berger - FBR Capital Markets & Co.
Suji De Silva - Kaufman Brothers
Auguste Richard - Piper Jaffray
Brendan Furlong - Miller Tabak & Co., Llc
Hans Mosesmann - Raymond James
Presentation
Operator
Good day, ladies and gentlemen. Welcome to the Q4 2009 Intel Corporation earnings conference call. My name is Christina, and I will be your coordinator for today. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star then number one on your telephone keypad. If you would like to withdraw your questions, press the pound key.
As a reminder, this conference is being recorded for replay purposes. I would now like to turn the presentation over to your host for today’s call, Mr. Kevin Sellers, Vice President of Investor Relations. Please proceed, sir.
Kevin Sellers
Thank you, Christina. And welcome, everyone, to Intel’s fourth quarter 2009 earnings conference call. I’m joined today as usual by our Chief Executive Officer, Paul Otellini; and Chief Financial Officer, Stacy Smith.
Our earnings release and updated financial statements were released today at approximately 1:15 Pacific Daylight Time and can be found on our investor website intc.com.
This quarter we continued to practice that we started last quarter of posting additional management commentary from CFO, Stacy Smith to our investor website. This commentary was posted at approximately 1:30 p. m. Pacific Daylight Time and contains added detail about our quarterly performance that was previously reviewed and prepared remarks during our conference call.
As we begin our call, let me remind everyone that today’s discussion contains forward-looking statements based on the environment as we currently see it and as such does include risks and uncertainties. Please refer to our press release for more information on the specific risk factors that could cause actual results to differ materially.
If during our call today there are any non-GAAP financial preferences made we will post the appropriate GAAP financial reconciliations to our investor website.
So with that, let me now hand it over to Paul’s comments followed by brief remarks from Stacy. Paul?
Paul S. Otellini
Thanks, Kevin. Our fourth quarter results had a great year of execution and innovation for Intel. We started the year in one of the deepest recessions in our history and emerged from it with better products and technology driving new demand for computing worldwide.
Our restructuring efforts have borne real fruit by improving the operational efficiency of the company driving relatively good results in challenging times and exceptional results in a stronger market.
The demand picture in the quarter reflected broad based strength across all regions and all product categories with notebooks leading the way. Our product mix was also a notable highlight.
