Earnings drop at Hewlett, as it warned; stock tumbles
Article Abstract:
HP's 3rd qtr earnings declined by 26 percent, primarily due to the closure of its disk-drive manufacturing business. The company has been warning investors that its remarkable growth rate could not continue forever, but without the $135 million charge for the disk-drive business the company still would have met analysts' expectations. Earnings for the quarter ending Jul 31, 1996, reached $425 million, compared with $576 million in last year's same period. Revenues increased 17.7 percent to $9.11 billion. The company has experienced unprecedented growth in recent years, commonly reporting 20 percent increases in earnings. HP's sales increased 8 percent for the 3rd qtr, but this is far below the 24 percent increase in the previous quarter and the 34 percent increase in last year's same period. HP's 3rd qtr has been traditionally slow, but the company also blames slowdowns in many of its markets and a transition to new products for the decline.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Jobs is said to have found the executive Apple for his eye
Article Abstract:
Steven Jobs, a co-founder and adviser at Apple, has been attempting to persuade George M.C. Fisher, Eastman Kodak's CEO, to become Apple's CEO. Jobs has been unsuccessful so far and Fisher announced publicly that he was not interested in leaving his company after he was approached by AT&T to fill its top spot. Apple has hired Heidrick & Struggles, a executive search firm, to locate a new CEO for the company. Jobs, who only can back to the company as an advisor in Jul of 1997, appears to be running the company, even though he has no formal position there. Other executives Jobs is reportedly attempting to take control of Apple include Larry Ellison of Oracle, Daniel Case of Hambrecht & Quist and John Warnock of Adobe.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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Strong growth in PC industry, reports say
Article Abstract:
The PC industry is showing strong growth despite the anxieties Wall Street expressed in regards to the market for home computers. During 1st qtr 1997, the industry saw growth worldwide of 16% over the same quarter in 1996, according to figures from International Data and Dataquest. The two market research firms named Compaq the world's top PC company, followed by IBM, Dell, Packard Bell-NEC and Toshiba. Apple fell from the top five, although the company claims to have sold 600,000 computers during the 1st qtr, worldwide. Dataquest and International Data did not agree on the US's growth rate during the quarter. Dataquest reported a 15.2% national growth rate and International Data reported a 20% growth rate.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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