I.B.M. posts first annual profit since 1990
Article Abstract:
IBM reports its first annual profit since 1990, tripling anaylysts' fourth quarter expectations. In 1994, IBM earned $2.89 billion, or $4.92 per share, up from a $96 million operating loss in 1993, while revenue advanced 6 percent to $64.1 billion. In 4th qtr 1994, IBM earned $1.23 billion, or $2.06 per share, up from earnings of $341 million, or 55 cents per share, in 4th qtr 1993. Analysts had expected per-share earnings of $1.75. Revenue was $19.9 billion, a 6.6 percent gain from the 1993 quarter. CFO Jerome York says expenses were slashed by $3.5 billion in 1994 as part of long-range plans to cut a total of $8 billion by mid-1996. Employment declined to about 220,000 workers, down 14 percent from 1993. Sales of mainframes, minicomputers and services in the quarter exceeded expectations. However, Apple, Compaq and Packard Bell Inc vaulted past IBM in PC sales. Executives plan to restructure the IBM PC Co by 2nd qtr 1995.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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Expenses limit growth in profit at Hewlett
Article Abstract:
HP announced fiscal 4th qtr earnings of $806 million, or 75 cents a share. The numbers represent a 24.4% gain compared to 4th qtr 1996 earnings of $648 million, or 62 cents a share. Revenue, meanwhile, jumped 16.7% to $11.79 billion. Earnings fell short of analyst projections for the fourth consecutive quarter, when measured against First Call's reported consensus figure of 77 cents a share. HP attributed the shortfall to acquisitions and faster employment of 1,400 new employees, which contributed to a larger-than-anticipated 16% increase in operating expenses. The company reported growing sales and orders in a turbulent Asian market. HP is increasing its market share in PCs and servers, according to recent reports by Dataquest and the International Data Corp. The lone business downside is pricing in a maturing desktop printer market.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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Apple Computer posts loss; sale advice may be sought; Compaq profit rose 65% in first quarter
Article Abstract:
Apple has reported $708 million net loss for its 2nd qtr 1997. Sales were also down from the previous fiscal quarter and from 2nd qtr 1996. Apple's losses include a $375 million dollar write off for research and development in relation to the company's acquisition of Next Software and $155 million to increase the company's capital reserves while it went through restructuring. Apart from these, Apple lost $186 million in operations, or $1.48 a share. During the 2nd qtr, dealers sold approximately $200 million worth of left-over inventory, and Apple was unable to meet all the orders it received for its new Power Mac computers. The company presently has a backlog of $420 million for the Power Macs.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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