Chip maker Intel Corporation has posted a net income of $2 billion for the third quarter ended September 27, 2008, a jump of 12 per cent compared with the same period a year ago.
The firm had a net income of $1.7 billion for the quarter ended September 29, 2007.
The chip maker had a net revenue of $10.2 billion against $10.1 billion in the year-ago period.
"Intel delivered the best third quarter revenue in its history. We were solidly profitable, with operating income of over three billion dollars...," Intel President and CEO Paul Otellini said in a statement on Tuesday.
However, striking a cautious note, Otellini said as the company looks at the fourth quarter, "It is hard to know what impact the financial crisis will have on end customer demand".
For the fourth quarter, the company expects to rake in revenues to the tune of $10.1 - 10.9 billion.
More From This Section
During the same period, Intel expects to incur restructuring and asset impairment charges of $250 million.
In the third quarter, the firm said the "Net loss from equity investment and interest and other was $265 million, greater than the expected net loss of $30 million, primarily driven by a $250 million impairment of company's investment in Numonyx".
According to the statement, the credit crisis could have "follow-on effects" on the firm's business, including insolvency of key suppliers resulting in product delays.
The statement added that other effects of the financial turmoil could be inability of customers to obtain credit to finance purchases of its products and increased expense or inability to obtain short-term financing of the company's operations from the issuance of commercial paper, among others.