By Max Clarke

“Double digit annual revenue growth in every major product segment and across all geographies,” has seen leading microchip manufacturers, Intel, deliver record profits.

“These outstanding results,” continued President and CEO Paul Otellini, “combined with our guidance for the second quarter, position us to achieve greater than 20 percent annual revenue growth.”

A recall of their much awaited ‘Sandy Bridge’ line of Core i2 processors combined with slower than expected sales of the Santa Clara, California headquartered Intel Corporation’s (NASDAQ:INTC) Atom line of low power, lightweight microchips designed for use in the burgeoning Tablet PC market, failed to negatively impact the company’s continued strength.

Intel’s Oak Trail and the coming Cedar Trail chips have been designed for use in Tablet PCs across operating system, including Android, which will see the company continue to deliver strong profits.

Revenue jumped 25% to $12.9 billion for the first quarter 2011 and the company forecasts a similar figure will be delivered for Q2. Intel generated approximately $4.0 billion in cash from operations, paid cash dividends of $994 million, and used $4.0 billion to repurchase 189 million shares of common stock.