This article is from page 67 of the 2009-01-20 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 67 JPG
A RESEARCH and development di- vision of the Intel computer corpo- ration based in Shannon more than doubled its operating profit to $1 million to the end of 2007.
But according to accounts recently returned to the Companies Office, Intel Shannon Ltd incurred a pre-tax loss of $10.6 million after writing off a capital contribution to a subsidiary costed at $12 million.
The Shannon site is the European research and development arm of Intel’s Digital Enterprise Group (DEG).
According to the figures, the com- pany increased its turnover by 16% from $24 million to $28 million while cost of sales increased by 19% from $20.7 million to $24.8 million.
The company’s pre-tax loss of $10.6 million followed a pre-tax profit of $611,843 for the previous year.
The accounts show that the com- pany had accumulated funds of $11.1 million. This followed a non-refund- able capital contribution from Intel Ireland Ltd of $12 million. No divi- dend was paid during the year.
The site in Shannon hosts a number of divisions focusing on_ server chipset, security and communication silicon and software design and pro- vides business, technical and market- ing support for European customers and field sales.
Intel Shannon employs 103 of its 142 employees in R&D with the re- mainder engaged in management and administration
Its parent company, Intel Corpora- tion, is the world’s leading semicon- ductor chip maker, employing over 80,000 people worldwide, and sup- plying the computing and communi- cations industries with chips, boards, systems and software building blocks that are integral to computers, serv- ers, networking and communications products.
The company’s Shannon and Leix- lip plants work in close association and together launched the first com- munications processor to be fully de- signed developed and manufactured in Ireland.
The design and development of the [XP425 processor was carried out by ICE in Shannon before being manu- factured in Leixlip.
Intel Ireland employs over 5,000 employees at its Leixlip campus and the corporation’s overall investment in its Irish operation is in the region of €5 billion
Shannon is the European base for the embedded businesses of DEG and home to the technical marketing and business development teams.
In relation to risks facing the com- pany, the directors state that legal action by third parties and loss of, or damage to the company’s fixed as- sets are the principal risk factors that could materially and adversely affect the company’s future operating protf- its or financial position.