Intel Shannon record profits for 2011

ACCOUNTS filed with the Companies Office by Intel Shannon Ltd show it recorded pre-tax profits of well over US$5 million in 2011.
The Director’s Report states there was an operating profit margin of 9.1% in 2011 compared to one of 9.0% the previous year.
“The profit on ordinary activities before taxation amounted to US$5,421,647 compared to a profit of $4,194,961 in the previous year. After a credit to taxation of $30,606 (2010: charge of $217,373) a profit of $5,452,253 (2010: profit of $4,967,588) is transferred to reserves,” the report also stated.
The profit on ordinary activities, multiplies by Ireland’s 12.5% rate of corporate tax came to $677,706.  The average number of people employed during the year was 217, five more than the previous year.
More than three-quarters (173) of them were working in research and development, with the remaining 44 in management and administration, including sales and marketing.
The company spent $19,368,760 on wages, almost $2.4m more than in 2010. There were also social welfare costs of $2,150,708 and pension costs of just under $1.9m.
Going by these figures, the average salary at the company was $89,256, equivalent to around €68,727.
Director’s remuneration for the year was $507,096 up from $442,844 the previous year.
The profit on ordinary activities, multiplies by Ireland’s 12.5% rate of corporate tax came to $677,706.
With regard to risks to the company’s position the Director’s Report stated, “The directors consider that loss of intellectual property is the principal risk factor that could materially and adversely affect the company’s future operating profits or financial position. The company has controls in place to limit potential exposures and both management and the board regularly review, reassess and proactively limit these risks.”