Technology Sector Shining

Intel

Going Strong

Semiconductor products manufacturer and technology provider Intel declared
quarterly results for the third quarter ended September 2004. Revenues were up
5% sequentially from $8 bn to $8.5 bn as against 8% growth y-o-y. Intel produces
the silicon for its microprocessors, chipset and flash memory components and
supplies the computing and communications industries with chips, boards, systems
and software building blocks, which are considered the ingredients of computers,
servers, networking and communications products.

The Asia-Pacific region continued to contribute major portion of revenues of
48% amounting to $4 bn followed by Americas, Europe and Japan contributing 21%,
22% and 9% of the total revenues, amounting to $1.8 bn, $1.9 bn and $772 mn
respectively. 

Net income for the quarter stood at $1.9 bn, up 8% as compared to
$1.8 bn sequentially. Y-o-y, net income was up 15% while revenues for the fourth
and final quarter of the year are expected to be between $8.6 bn and $9.2 bn.

Microsoft

12% Growth

Software, services and Internet technology provider Microsoft met its first
quarter estimates when it announced the results for the quarter ended September
2004. The company reported revenues of $9.2 bn, up 12% over the corresponding
period of last year but down 1% sequentially. The net income in the same quarter
stood at $2.6 bn, down 10% y-o-y and 3% q-o-q.

The company witnessed a decline in sales of mobile and embedded devices by
24% q-o-q to $69 mn whereas the home and entertainment revenues were up by 16%
to $632 mn. The client segment, which comprises Windows operating system, saw a
2% increase in revenues to $3 bn sequentially. Revenues from the server
platforms segment with the windows server dipped 18% sequentially to $2.2 bn.
Revenues from information worker segment, comprising office, project, visio and
other products were down 22% to $2.6 bn. Going forward, Microsoft expects to
earn revenues of $10.3 bn to $10.5 bn for the next quarter ending December 2004.

IBM

Net Income Down 9%

IBM reported disappointing third quarter results for the three month period
ended September 2004. The company earned revenues of $23.4 bn, up by a mere 1%
q-oq, from $23.2 bn, and up 10% y-o-y. Net income for the same period stood at
$1.8 bn, compared to $2 bn, down 9% sequentially. This is due to an expenditure
amounting to $320 mn in relation to the partial settlement of legal claims
against IBM's pension plan.

IBM's software business grew 5% to $3.6 bn over the previous year with an
increase in sales of the company's middleware brands like Websphere, DB2,
Rational, Tivoli and Lotus products. The hardware segment showed signs of
recovery with revenues increasing by 12% to $7.5 bn whereas global financing
segment saw 10% decline in revenues to $638 mn. Overall, IBM witnessed 11% y-o-y
jump in revenues from the Asia Pacific region amounting to $5.6 bn, 8% jump in
sales from America at $10.1 bn and 8% jump in the Europe, Middle East and Africa
(EMEA) to $7.7 bn.

Apple

Sweet iPOD Success

California-based computer maker Apple announced excellent results for the
fourth and final quarter ended March 2004. Revenues amounted to of US$ 2.35 bn
as compared to $1.7 bn in the same period last year and $2 bn in the immediate
previous quarter, up 37% and 17% respectively. The net income increased 70%
sequentially to $104 mn as compared to $61 mn in the previous quarter. As
compared to the same quarter last year, the net income was up 136%.

Apple's international sales contributed 49% of the total revenues for the
quarter ended March 2004. iPod unit sales drastically grew 500%, whereas iMac
sales grew 6% sequentially. The company witnessed a increase in revenues from
USA and Europe to the tune of 17% and 4% sequentially, contributing 51% and 18%
respectively of the total revenues during the quarter ended March 2004. Revenues
from Japan also grew 2%, contributing 7% of the total revenues, whereas revenues
from the rest of the world grew 34%, which contributed the balance 24%.

Apple recently introduced iPod Photo with 40GB and 60GB models, which enables
users to take their entire music and photo library with them wherever they go.

eFunds

Fine Showing

eFunds Corporation is a provider of transaction processing, risk management and
professional services to financial institutions, electronic fund transfer
networks, e-commerce providers and government agencies. For the third quarter
ended September 2004, Arizona-based company's revenues declined by a mere
percent amounting to $140.1 mn as compared to $140.7 mn sequentially. Y-o-y, the
company revenues were up 5%. efunds' electronic payments business segment
contributed 35% of the total revenues earned during the quarter amounting to
$49.5 mn, down 5% sequentially.

Revenues from the decision support and risk management segment contributing
26%, amounting to $36.8 mn, up 5% sequentially followed by the ATM management
services segment amounted to $33.7 mn, up 74% sequentially, contributing 24% and
the professional services segment contributing the balance 15% of the total
revenues amounting to $20.3 mn, down 41% sequentially. Net income for the
quarter was $10.7 mn as compared to $9.4 mn, up 13% sequentially. Net income
increased 18% q-o-q. Going ahead, the company expects that its core business
segments i.e., electronic payments, risk management and global outsourcing will
achieve full year revenues of $425 mn to $435 mn.

AMD

Revenues Up 30%

California-based chipmaker Advanced Micro Devices (AMD) announced its third
quarter results, reporting revenues of $1.2 bn as compared to $1.3 bn in the
immediate previous quarter, down 2%. Revenues were up 30% q-o-q, from $953 mn.
Net income was up 36% to $43.8 mn sequentially as compared to $32.2 mn. The
computation product segment, which includes PC processors and chip-sets,
contributed 54% of the total revenues earned during the third quarter amounting
to $673 mn, up 21% as compared to $554 mn earned sequentially.

Revenues for sale of memory products amounted to $538 mn, registering 20%
decline as compared to $673 mn in the preceding quarter, contributing 43%. Sale
of embedded processors, network and geode products and foundry services
contributed the balance 3% of the total revenues amounting to $28 mn, a decline
of 18% sequentially. AMD launched the new AMD Sempron processor family,
redefining everyday computing for value-conscious desktop and notebook PC
buyers, besides also introducing the Mobile AMD Athlon 64 processor 3000+ for
thin-and-light notebooks and 32-bit/64-bit processors for mobile PCs, the AMD
Athlon 64 processor 3700+, for desktop-replacement notebooks.