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| Subject: Proton partner Hewlett Packard--4th quarter result. | |
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Author: anonymous |
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Date Posted: 06:11:26 11/21/02 Thu http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial% ----------------------------------------------------------- 11/20 16:30 ----------------------------------------------------------- Hewlett-Packard 4th-Qtr Profit Quadruples; Sales Rise (Update1) By Peter J. Brennan ------------------------------------------------------------ Palo Alto, California, Nov. 20 (Bloomberg) -- Hewlett-Packard Co.'s fourth-quarter profit rose almost fourfold as the world's second-biggest computer maker reduced costs and cut jobs to absorb Compaq Computer Corp., acquired in May. ------------------------------------------------------------ Net income increased to $390 million, or 13 cents a share, compared with $97 million, or 5 cents, a year earlier, the company said in a statement. Sales in the period ended Oct. 31 rose 66 percent to $18 billion from $10.9 billion. The year-earlier results omit those of Compaq. ------------------------------------------------------------ Hewlett-Packard improved profit because sales exceeded forecasts, and a restructuring to integrate Compaq is working effectively, said Chief Financial Officer Bob Wayman in an interview. The company increased its job cuts to 17,900 from the previously announced 16,800, because of 1,100 more positions eliminated in Japan, he said. ------------------------------------------------------------ Excluding some costs, the company said it would have earned 24 cents a share in the recent period. On that basis, which doesn't agree with generally accepted accounting principles, profit topped the average 22-cent estimate in an Thomson First Call survey of analysts. Sales exceeded the $17.3 billion average forecast. ------------------------------------------------------------ Hewlett-Packard shares rose 8 cents to $16.93 at 4:17 p.m. They had risen 30 cents in regular U.S. trading. ------------------------------------------------------------ [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: Proton partner Hewlett Packard--23/9/02 Preferred Payment Architecture | anonymous | 15:20:31 11/23/02 Sat |