2010 a record year for Intel

CHIPMAKER Intel smashed its previous sales and profit records in both its 2010 results and its fourth-quarter trading, it reported yesterday.

In its best-ever full-year results the computer processor maker reported net income of $11.7bn (£7.5bn), up from $4.4bn in 2009.

It also reported fourth-quarter revenues of $11.46bn. Analysts had expected sales of $11.36bn. The firm posted fourth-quarter net income of $3.4bn.

The results confound expectations that traditional computers are facing growing pressure. PC sales are slowly decreasing as items as the iPad steal market share – but Intel’s processors remain sought-after.

Intel’s shares rose 1.5 per cent to $21.61 in after-hours trading after closing down 0.06 per cent at $21.29 on Nasdaq.

Last week, Intel unveiled its newest personal computer microchip, code-named Sandy Bridge and seen as a major leap in processing power.

Chief executive Paul Otellini has said computer manufacturers are rapidly adopting them.

“2010 was the best year in Intel’s history. We believe that 2011 will be even better,” said Otellini.

The chipmaker now has $16.7bn of cash in the bank.