Intel Corporation today announced fourth-quarter revenue of $7.0 billion, up 7 percent sequentially and down 20 percent year over year. For the fourth quarter, net income excluding acquisition-related costs was $998 million, up 52 percent sequentially and down 62 percent year over year. Fourth-quarter earnings excluding acquisition-related costs were $0.15 per share, up 50 percent from $0.10 in the third quarter and down 61 percent from $0.38 in the fourth quarter of 2000. Including acquisition-related costs in accordance with generally accepted accounting principles (GAAP), fourth-quarter net income was $504 million, up 375 percent sequentially and down 77 percent year over year. Earnings per share were $0.07, up 250 percent from $0.02 in the third quarter and down 78 percent from $0.32 in the fourth quarter of 2000. Acquisition-related costs in the fourth quarter consisted of $550 million of amortization of goodwill and other acquisition-related intangibles and costs. "2001 was a terrible year for our industry," said Craig R. Barrett, president and chief executive officer. "Despite this backdrop, we introduced exciting new products, including the industry's first 2.0 GHz processor, gained market segment share, and earned over $1 billion. We also rapidly ramped our industry-leading 0.13-micron process technology and began production on 300mm wafers.