Intel Profits Increase

Higher prices and stronger demand led Intel's fourth quarter profits to levels higher than the company had predicted. Excluding charges related to acquisitions, Intel's fourth quarter earnings were up 15 percent to $2.4 billion. Revenues increased eight percent to $8.2 billion. The company also reported that income for the entire year of 1999 was up 21 percent from the previous year, increasing from $6.1 billion to $7.3 billion. Intel says that in 2000 it will increase spending on research and development and invest in new production equipment instead of building new fabrication facilities.