Intel posts Q4 net income at $2.28 bn

Chip maker Intel has reported a robust growth in the fourth quarter net income at $2.28 billion, indicating recovery in technology sector.

In the year-ago period, the company had a net income of $234 million, Intel said in a statement.

Net revenue increased to $10.56 billion in the three months ended December 26, 2009 from $8.22 billion in the year-ago period.

"Intel's strong 2009 results reflect our investment in industry-leading manufacturing and product innovation," Intel President and CEO Paul Otellini said.

The company said that sales of both personal computer (PC) chips and computer server chips rose during the quarter and that the prices for its product have moved higher.

Intel's PC client group had a revenue of $7.8 billion, 26 per cent up from the prior year primarily due to higher unit sales and increase in average selling price.

"The fourth quarter of 2009 was one of the 'most profitable' quarters ever and demonstrates the strength of our execution and business model," Intel said.

During the quarter, Intel has seen return of consumer demand after a drop in demand at the end of 2008 and the beginning of 2009.

In its outlook, the chip maker said it is expecting a revenue of $9.7 billion in the first quarter of 2010.