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Intel has restated its Q1 FY2005 earnings. However this is different from the spate of restatements from US companies. 1) It has nothing to do with Sarbanes-Oxley. 2) Earnings are increased.

The reason is a reduction in the tax bill of $24m. The figure is disclosed in filings with the Securities and Exchange Commission (SEC).

Earnings per share rose from 34 cents to 35 cents.

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