Intel, who recently launched the new, earth-shaking Nehalem processors, said it recorded a net income in the first quarter 55 percent lower compared to the past year. Intel’s net income fell to $647 million or 11 cents a share, from $1.44 billion, or 25 cents a share, in the same quarter last year. 

 

“The worst is now behind us,” said Paul Otellini, the company’s chief executive officer. 

 

“We’re seeing signs that a bottom in the PC segment has been reached,” he added.

 

The Intel chief executive also underlined the fact that consumer demand is still relatively stronger than corporate demand. Also, demand in the U.S. and China seems to be recovering faster than in Europe and Japan. 

 

Intel reported sales of $7.1 billion, a 26 percent fall from $9.67 billion, reported a year ago. The company’s net income per share (minus one-time charges) was of 8 cents, better that the 2 cents forecast from a Wall Street consensus. 

 

The financial report from Intel was a bit disappointing for many and the company’s shares fell in after-hours trading Tuesday by 5.4 percent, to $15.14. the closing price on Tuesday was of $16.01, up 3 cents.