Santa Clara, Calif. -- Intel, the Santa Clara-based chip-making giant, on Tuesday reported a 55% drop in first-quarter earnings, but also predicted brighter times ahead. "We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns," said Paul Otellini, the company's president and CEO. For the three months ending March 28, the company posted net income of $647 million, down from $1.4 billion the previous year, on revenue of $7.1 billion, down from $9.7 billion.
http://www.intel.com/pressroom/archive/releases/20090414corp.htm?iid=pr1_releasepri_20090414r
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