H-P's net rises 37%, exceeds expectations
Article Abstract:
HP's third fiscal quarter (ending July 31, 1999) results surprised financial analysts by surpassing their predictions. HP's income rose from $621 million in 1998 at this time to $853 million, sales rose from $10.98 billion to $12.23 billion and revenue rose 11% in the quarter. HP is showing that despite industry predictions, it is ready to compete, albeit somewhat tardily, in the Internet economy. The company has also gained attention recently for hiring Carly Fiorina from outside the company as the new president and CEO, the first woman CEO of a Fortune 500 company. Overseas sales have risen also as the Asian and European economies rebounded somewhat. HP's Agilent subsidiary plans an initial public offering and reported sales of $7.95 billion and net income of $257 million for the fiscal year ending Oct. 31, 1998.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Packard Bell, NEC to merge most of their PC lines; Alagem to remain at helm, but Japanese concern will play a larger role
Article Abstract:
Packard Bell and NEC agree to a contract under which NEC will assume greater control of Packard Bell stock and management power for a reported $300 million in NEC's assets. The PC operations of the companies will merge as a result, creating the single largest computer manufacturer in the US under the new name Packard Bell-NEC. Packard Bell CEO Beny Alagem will retain his title and control over the company, but NEC's 35% to 40% of Packard Bell stock will provide the company with significant input on operational policy. NEC is expected to provide support for quality-control and manufacturing operations, transferring approximately 1,000 employees to Packard Bell's headquarters in Sacramento. The combined company will also expand its marketing and development efforts and enter the highly competitive server market.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Some kid's titles that finally break out of the mousetrap. Prodigy has promise, but America Online may be the prodigy
- Abstracts: Levitation act: the stockmarket's resilience has surprised many, but weak earnings are still a threat. Bargain hunters survey the market wreckage: stocks in the old and new economies alike have slumped in the past few months, some far enough to spell potential for shrewd buyers
- Abstracts: Possible Burnett move sparks speculation. Coke aims to revive 'feel good' factor. WestWayne finds strength in singleness
- Abstracts: Packard Bell sells 20% stake to NEC for $170 million; deal gives Japanese firm unprecedented access to the U.S. PC market
- Abstracts: Price limits as an explanation of thin-tailedness in pork bellies futures prices. Nonlinear dynamics of daily futures prices: conditional heteroskedasticity or chaos?