Intel posts record annual results

Computer chipmaker Intel on Thursday announced that its annual revenue and earnings hit new record in 2011. Intel said that its latest full-year revenue reached 54 billion U.S. dollars, an increase of 24 percent compared with the previous year. The company earned 12.9 billion dollars or 2.39 dollars per share in 2011, up 13 percent and 19 percent respectively from the year of 2010. For the 2011 fiscal fourth quarter ending Dec. 31, Intel posted revenue of 13.9 billion dollars and net income of 3.4 billion dollars, representing increases of 21 percent and 6 percent respectively from the same period a year ago. Earnings per share excluding items came in at 68 cents for the quarter, increasing 21 percent year-on-year. Intel's fourth quarter results topped estimates by analysts, who expected earnings per share excluding items to be 61 cents on revenue of 13.72 billion dollars, according to Thompson Reuters. "2011 was an exceptional year for Intel," Intel's chief executive officer Paul Otellini said in a statement, noting that the company's revenue grew by more than 10 billion dollars in the past year, "eclipsing all annual revenue and earnings records." "With a tremendous product and technology pipeline for 2012, we 're excited about the global growth opportunities presented by Ultrabook systems, the data center, security and the introduction of Intel-powered smartphones and tablets," he said.