Hewlett-Packard stock soars on news of 49% jump in its 1st-quarter net

Article Abstract:

HP's stock rose dramatically after the company reported a 49 percent rise in first quarter earnings. The company's announcement surprised most industry analysts and reflects HP's ongoing focus on trimming expenses and boosting productivity. HP's 1st qtr ended Jan 31 with stock rising $9.125 to close at $73.50 on volume of almost four million shares. Earnings amounted to $306 million compared to the 1991 figure of $205 million. The company cut 3,600 jobs in the 1991 fiscal year. Orders for the HP LaserJet and HP DeskJet printers rose during that time and the HP-9000 Series 700 was also in heavy demand. Despite the positive 1st qtr report, orders for HP's electronic test and measurement products fell 10 percent from 1991, and HP services are slowing to single-digit figures compared to the 1991 figures as a result of improved product reliability.

Instruments to measure electricity, Reports, Marketing, Profit, Profits, Ethical aspects, Growth (Physiology), Financial Analysis Software, Growth, Strategic Planning, Stock, Financial Report, HP LaserJet (Laser printer), HP DeskJet (Ink jet printer), First Quarter, HP Apollo 9000 700 (HP PA-RISC-based system)

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H-P net up 31% in fiscal 1st period; management cited

Article Abstract:

HP announces profits of $790 million for the quarter ended Jan 31 1996, an increase of 31% from the $602 million reported in the same quarter one year earlier. Total revenue for the period increased 27% to $9.3 billion, as HP continued its impressive growth in an industry that is largely reporting diminished expectations for revenue share. Analysts cite HP's managerial prowess for its steady revenue and profit climb. HP has managed to avoid the difficulties in market gauging, international investment and product shifts that have hurt other computer companies. However, analysts also point to the fact that HP's fiscal quarter includes Jan 1996 as a mitigating reason for the company's comparatively favorable outcome.

Electronic Computer Manufacturing, Computers & Auxiliary Equip, Company sales and earnings, Company Sales/Revenue, Company Earnings/Profit

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