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Intel Misses Earnings By A Penny

Chipmaker Intel fell a penny short of the consensus expectation for its first quarter profit, posting a net of 26 cents per share.

The shortfall included a one-time charge of about 1.7 cents per share to take care of a previously announced legal settlement with one-time rival Intergraph.

Overall, Intel, Santa Clara, Calif., reported sales of $8.1 billion -- which was also slightly short of the $8.17 billion consensus -- and a profit of $1.7 billion for the quarter ended March 27.

That compared with sales of $6.75 billion and a profit of $915 million for the same quarter in 2003.

"Intel's first quarter results showed healthy growth in both revenue and earnings compared to a year ago, led by improvement in worldwide IT spending," said Intel CEO Craig Barrett in a prepared statement.

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