Hewlett posts 44% rise in net for 3rd quarter; result trailed expectations as orders gain slowed in some overseas areas
Article Abstract:
HP reports a 44 percent rise in net profits for the 3rd qtr 1993 from the same period during 1992. The quarter, which ended on July 31, resulted in a posted net income of $271 million, or $1.06 per share, compared with 3rd qtr 1992 figures of $188 million, or 75 cents per share. The report is approximately 12 percent short of anticipated earnings, and some analysts point to slower-than-expected order growth in certain overseas markets as a possible factor. Orders for the 3rd qtr grew only 19 percent to $4.7 billion, compared with 2nd qtr growth of 28 percent, or $5.4 billion. European orders rose only 10 percent from the 3rd qtr 1992, and apparently were particularly lacking from Germany, which is HP's largest foreign market. However, the company enjoyed order gains of 17 percent in the Asia-Pacific region and 24 percent in the US. Continued price cutting in the computer industry has driven HP's cost of goods sold to 60 percent of revenue, compared with 57 percent in 1992.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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Hewlett-Packard posts 40% rise in net for quarter on 12% gain in revenue
Article Abstract:
Hewlett-Packard Co (HP) reports that net income increased 40 percent in the 2nd qtr of 1992, and revenue increased 12 percent. HP's sales of computers and printers continue to show strength even though other companies are in difficulty. HP says income for the quarter ended Apr 30, 1992 was $326 million, or $1.28 a share, which compares with $233 million, or 93 cents a share, in the same period in 1991. Revenue in the 2nd qtr was $4.18 billion, which compares with $3.73 billion last year. Slowed economic conditions in overseas markets are cited as a reason for a drop in HP's stock. Shares were selling at $74.375, down $3, in late trading on the New York Stock Exchange, on Monday, May 18, 1992.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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