Intel Reports Fourth-Quarter and Full-Year 2021 Financial Results

•      Cybersecurity incidents, whether or not successful, can affect Intel's results by causing us to incur significant costs or disrupting our operations or those of our customers and suppliers, and can result in reputational harm.

•      Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. For example, in the first quarter of 2021, Intel accrued a $2.2 billion charge related to litigation involving VLSI Technology LLC (VLSI). An unfavorable ruling can include monetary damages or an injunction prohibiting us from manufacturing or selling one or more products, precluding particular business practices, impacting our ability to design products, or requiring other remedies such as compulsory licensing of intellectual property.

•      Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions. In addition, these transactions do not always achieve our financial or strategic objectives and can disrupt our ongoing business and adversely impact our results of operations. The proposed Mobileye IPO may not be completed in our expected timeframe, or at all, due to factors that include adverse changes in economic or market conditions or in our business; delays in regulatory, stock exchange, or other approvals; loss of Mobileye key employees, and changes in our business strategy.

•      The amount, timing, and execution of Intel's stock repurchase program fluctuate based on Intel's priorities for the use of cash for other purposes—such as investing in our business, including operational and capital spending, acquisitions, and returning cash to our stockholders as dividend payments.

Detailed information regarding these and other factors that could affect Intel's business and results is included in Intel's SEC filings, including the company's most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports. Copies of these filings may be obtained by visiting our Investor Relations website at www.intc.com or the SEC's website at www.sec.gov.

 

About Intel

Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.

© Intel Corporation. Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.

Contacts:

Tim Blankenship

Penny Bruce

 

Investor Relations

Media Relations

 

480-554-9007

408-893-0601

 

timothy.blankenship@intel.com

penelope.bruce@intel.com

 

 

Intel Corporation

Consolidated Condensed Statements of Income and Other Information

 

 

Three Months Ended

 

Twelve Months Ended

(In Millions, Except Per Share Amounts; unaudited)

 

Dec 25, 2021

 

Dec 26, 2020

 

Dec 25, 2021

 

Dec 26, 2020

Net revenue

 

$        20,528

 

$        19,978

 

$        79,024

 

$        77,867

Cost of sales

 

           9,519

 

           8,630

 

         35,209

 

         34,255

Gross margin

 

         11,009

 

         11,348

 

         43,815

 

         43,612

Research and development

 

           4,049

 

           3,655

 

         15,190

 

         13,556

Marketing, general and administrative

 

           1,942

 

           1,757

 

           6,543

 

           6,180

Restructuring and other charges

 

               29

 

               52

 

           2,626

 

              198

Operating expenses

 

           6,020

 

           5,464

 

         24,359

 

         19,934

Operating income

 

           4,989

 

           5,884

 

         19,456

 

         23,678

Gains (losses) on equity investments, net

 

              359

 

           1,692

 

           2,729

 

           1,904

Interest and other, net

 

             (154)

 

              (88)

 

             (482)

 

             (504)

Income before taxes

 

           5,194

 

           7,488

 

         21,703

 

         25,078

Provision for taxes

 

              571

 

           1,631

 

           1,835

 

           4,179

Net income

 

$         4,623

 

$         5,857

 

$        19,868

 

$        20,899

 

 

 

 

 

 

 

 

 

Earnings per share—basic

 

$           1.14

 

$           1.43

 

$           4.89

 

$           4.98

Earnings per share—diluted

 

$           1.13

 

$           1.42

 

$           4.86

 

$           4.94

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding:

 

 

 

 

 

 

 

 

Basic

 

           4,069

 

           4,094

 

           4,059

 

           4,199

Diluted

 

           4,095

 

           4,119

 

           4,090

 

           4,232


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