Earnings Reports for Nov. 13

Revenue in the computing systems segment — which includes workstations, desktops, notebooks, mobile devices — grew 29 percent in compared with last year. Operating margin was 3.7 percent, up from 3.2 percent last year, but down 7.3 percent in the third quarter.

Information technology services — hardware and software services, along with outsourcing, consulting and customer financing services — grew 15 percent in terms of revenue compared to the same period last year, while operating margin was 7.4 percent, essentially flat with 7.5 percent last year.

For the 2001 fiscal year ending Oct. 31, 2001, Hewlett-Packard said it expects revenue to grow by 15 percent to 17 percent compared with the 15 in the fiscal year 2000 it just completed.

The company said it expects gross margin percentage in fiscal 2001 in the range of 27.5 to 28.5, compared to 28.5 percent in fiscal 2000, with improvements beginning in the second quarter. Total operating expenses in fiscal 2001 are expected to be between 10 percent to 12 percent above fiscal 2000. The company also said it expects its tax rate is expected to remain constant at about 23 percent. BACK TO TOP

The results were in line with estimates from analysts surveyed by First Call/Thomson Financial.

Revenue increased 12 percent to $3.41 billion in the third quarter, from $3.05 billion from the year-ago period.

Sales at stores open at least a year were down 8 percent, compared to a 5 percent increase a year ago.

“Third quarter was very challenging,” said Millard Drexler, Gap’s president and chief executive officer. “We’re moving quickly to fix our problems and make sure we execute more consistently.”

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