Apple surprises Wall St., projecting a loss of $68 million

Article Abstract:

Apple announces that losses for 1st qtr FY 1995 will be $68 million, double the amount expected by analysts. Analysts had expected a loss based on a previous announcement that revenues, shipments and profit margins did not meet internal forecasts. However, the news caused Apple shares to fall to the $31 range in after-hours trading on Jan 10, 1995. The stock had enjoyed an increase of $1.50 in normal trading hours that day and had closed at $34.25. Apple plans to take a restructuring charge for the quarter, and analysts believe that the company will lay off more employees. Apple says the losses stem from the price cutting that competition forced on the company and from inventory adjustments valued at around $80 million. The news comes just as Apple had increased its market share. The company, which has lost a number of executives in 1995, also announces that VP Barbara Krause and VP Keith Fox will leave the company.

AAPL, Company losses, Apple Inc.

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Hewlett-Packard's quarter profit exceeds Wall St. expectations

Article Abstract:

HP reported 3rd qtr 1998 earnings of $621 million, or 58 cents a fully diluted share. The report surpassed a First Call analyst consensus of 54 cents a share, but new orders rose only 1% from the 3rd qtr 1997. Continued reorganization efforts probably will yield an approximately $100 million charge in the 4th qtr 1998, according to company officials. The company's revenue rose to $11 billion for a 5% jump, while the number of outstanding shares increased from 1.06 billion to 1.08 billion. HP credited its cost controls and strong financial management with lowering operating expenses to 4%. By comparison, HP reported an 18% gain in the 2nd qtr 1998 and 13% in the 3rd qtr 1997. The company remains concerned about the weak Asian market, which shows no signs of improvement. HP had fallen short of Wall Street projections in five of the six previous quarters.

Hewlett-Packard Co., HWP, Company sales/revenue, Company earnings/profit

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Digital surprises Wall St. with a second-quarter profit

Article Abstract:

Computer maker DEC will post a profit for its 2nd qtr after accruing losses for the five previous quarters. DEC officials report that for the 2nd qtr ending Dec 31, 1994, company earnings totaled $18.9 million, or 7 cents per share, compared to a net loss of $72.1 million for the same period a year earlier. Operating revenue was also up for the quarter, climbing 7% to $3.47 billion in contrast to the $3.25 billion recorded for the same period in the previous year. The quarterly results surprised Wall Street analysts who had predicted that the company would show a quarterly loss of 28 cents a share. DEC has undergone a far-reaching restructuring program to return the company to profitability. As part of that restructuring, DEC eliminated 25% of the work force in 1994. In the latest quarter, the company cut 8,200 jobs.

Digital Equipment Corp., DEC, Stock markets, Profit Margin, Stock Market, Financial Report

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