Intel 2004 Annual Report Download - page 46

Table of Contents
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
Our future results of operations and the other forward-looking statements contained in this filing, including this MD&A, involve a
number of risks and uncertainties—
in particular, the statements regarding our goals and strategies, new product introductions, plans to cultivate
new businesses, market segment share and growth rate assumptions, future economic conditions and recovery in the communications
businesses, revenue, pricing, gross margin and costs, capital spending, depreciation and amortization, research and development expenses,
potential impairment of investments, the tax rate, and pending tax and legal proceedings. In addition to the various important factors discussed
above, a number of other factors could cause actual results to differ materially from our expectations. Demand for our products, which impacts
our revenue and gross margin percentage, is affected by business and economic conditions, as well as computing and communications industry
trends and the development and timing of introduction of compelling software applications and operating systems that take advantage of the
features of our products. Demand for our products is also affected by changes in customer order patterns, such as changes in the levels of
inventory maintained by our customers and the timing of customer purchases. Intel operates in intensely competitive industries, and our
revenue and gross margin could be affected by factors such as competing chip architectures and manufacturing technologies, competing
software-compatible microprocessors, pricing pressures, actions taken by our competitors and other competitive factors, as well as market
acceptance of our new products in specific market segments, the availability of sufficient inventory to meet demand and the availability of
externally purchased components or materials. Our future revenue is also dependent on continuing technological advancement, including
developing and implementing new processes and strategic products, as well as the timing of new product introductions, sustaining and growing
new businesses, and integrating and operating any acquired businesses. Our results could also be affected by adverse effects associated with
product defects and errata (deviations from published specifications), and by litigation or regulatory matters involving intellectual property or
stockholder, consumer, antitrust and other issues.
We believe that we have the product offerings, facilities, personnel, and competitive and financial resources for continued business
success, but future revenue, costs, gross margins and profits are all influenced by a number of factors, including those discussed above, all of
which are inherently difficult to forecast.
Status of Business Outlook and Related Risk Factor Statements
We expect that our corporate representatives will from time to time meet privately with investors, investment analysts, the media and
others, and may reiterate the forward-looking statements contained in the “Business Outlook” section and elsewhere in this Form 10-K,
including any such statements that are incorporated by reference in this Form 10-K. At the same time, we will keep this Form 10-K and our
then-current Business Outlook publicly available on our Investor Relations web site (www.intc.com). The public can continue to rely on the
Business Outlook published on the web site as representing our current expectations on matters covered, unless we publish a notice stating
otherwise. The statements in the Business Outlook and other forward-looking statements in this Form 10-K are subject to revision during the
course of the year in our quarterly earnings releases and SEC filings, our Mid-Quarter Business Updates and at other times.
We intend to publish a Mid-Quarter Business Update on March 10, 2005. From the close of business on March 4, 2005 until publication
of the Update, we will observe a “quiet period” during which the Business Outlook and other forward-looking statements first published in our
earnings press release on January 11, 2005, as reiterated or updated as applicable, in this Form 10-K, should be considered historical, speaking
as of prior to the quiet period only and not subject to update. During the quiet period, our representatives will not comment on the Business
Outlook or our financial results or expectations.
A quiet period operating in similar fashion with regard to the Business Outlook and our Form 10-K will begin at the close of business on
March 18, 2005 and will extend until the day that our next quarterly earnings release is published, presently scheduled for April 19, 2005. We
typically have quiet periods twice each quarter, in advance of our Earnings Release and Mid-Quarter Business Update; however, the exact
timing and duration of those routine quiet periods, and any others we utilize from time to time, may vary at our discretion.
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