Intel Corp. (NASDAQ: INTC) reported fourth quarter and full year earnings after markets closed today. The chip-making giant beat EPS and revenue estimates all around.

For the quarter, Intel reported EPS of $0.64 on revenue of $13.9 billion, compared with a consensus EPS estimate of $0.61 and a revenue estimate of $13.72 billion. For the full year, Intel posted EPS of $2.39 on revenue of $54 billion. The consensus estimate called for EPS of $2.37 and revenue of $53.84 billion.

In 2011, Intel generated about $21 billion in cash from operations, paid dividends of $4.1 billion and used $14.1 billion to repurchase 642 million shares of stock.

Gross margins for the year slipped -1.9% on a non-GAAP basis and -2.8% on a GAAP basis. For the quarter, gross margins were 65.5%, up 0.7%, on a non-GAAP basis and 64.5% on a GAAP basis, down -0.1%.

In its outlook for next quarter, Intel expects revenue of $12.8 billion, in line with the current analysts’ estimate. The company expects GAAP gross margin of 63%, and 64% on a non-GAAP basis. The company didn’t provide a capital spending figure for the first quarter of 2012.

For the full fiscal year 2012, Intel forecasts gross margins of 64% on a GAAP basis and 65% on a non-GAAP basis. Capital spending is expected to total $12.5 billion, and the company did not provide a revenue estimate for the year. The current analysts’ estimate for 2012 revenue is $55.08 billion.

Intel’s shares are trading up about 1.25% in after-hours trading, at $25.95 in a 52-week range of $19.16-$25.92. If the share price holds, Intel is on its way to a new 52-week high.

Paul Ausick

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