Intel CEO: The Future’s So Bright, I Gotta Squint Just Slightly

“The worst is now behind us.” Intel (INTC) CEO Paul Otellini made that brave statement back in April. And not a month later, it seems to be proving true. Commenting on Intel’s business during an event for financial analysts Tuesday, Otellini said, “Looking at order patterns, billings patterns, it’s a little better than expected.”

A little better than expected.

Not the most exuberant of pronouncements, but when you’re coming off a first quarter in which profit fell 55 percent, it’s cause for a little optimism. Especially, since Otellini says demand is slowly slipping back into its seasonal patterns. “We will see seasonality in the second half,” he said. “I’m getting increasingly comfortable that the dip here is not as aggressive as they are showing.”