Chipmaker Intel fell a US cent short of the consensus expectation for its first quarter profit, posting a net figure of 26 US cents per share.
The shortfall included a one-time charge of about 1.7 US cents a share to pay off a previously announced legal settlement with one-time rival Intergraph.
Intel reported overall sales of US$8.1 billion -- which was also slightly short of a US$8.17 billion consensus -- and a profit of US$1.7 billion for the quarter ended 27 March.
That compared with sales of US$6.75 billion and a profit of US$915 million for the same quarter in 2003.
'Intel's first quarter results showed healthy growth in both revenue and earnings compared to a year ago, led by improvement in worldwide IT spending,' said Intel CEO Craig Barrett in a statement.
'We ramped our 90nm process into high volume with the launch of several new desktop processors, and plan to substantially increase shipments in the second quarter including our first mobile and server products,' Barrett said.
'The combination of these products plus new processors and platform innovations coming over the course of this year positions us well for continued growth.'
Intel said it expected its second-quarter revenue to fall within a range of US$7.6 billion and US$8.2 billion. The Wall Street consensus had indicated an expectation of US$8.09 billion.
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