Chip firm Intel said it had made net profits of $915 million on turnover of $6.75 billion.

Profits are down two per cent compared to the same quarter last year, while its sales were flat, in fact slightly down, compared to its financial Q1 last year.

The firm said its flash business had not performed as well as expected for the quarter, but its other bread and butter products also failed to shine .

Gross margin for the quarter came in at a slightly higher 52 per cent than it expected, because Intel managed to save money on wafer starts, sold stock it had, and also sold more higher margin products during the period.

Sales of its mainstay, microprocessors, were lower than expected. Chipset sales were flat, motherboard sales were lower, Ethernet product shipments were lower and so too were sales of flash memory.

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