Same words with a nicer 'headline'...
(COMTEX) B: Compaq's 4Q Tops Wall Street Estimates
B: Compaq's 4Q Tops Wall Street Estimates
Jan 25, 2000 (Tech Web - CMP via COMTEX) -- Compaq today posted
fourth-quarter earnings of 19 cents per share on revenues of $10.5
billion, a decrease of 4 percent from the previous year, but soundly
beating Wall Street estimates of 16 cents per share.
"During the second half of this year, we took aggressive action to
return Compaq to profitable growth, and fourth-quarter results reflect
our initial success," president and chief executive officer Michael
Capellas said in a statement released by Compaq after the close of
financial markets today.
The Houston computer maker, struggling to achieve a turnaround after a
tumultuous year in which Capellas replaced Eckhard Pfeiffer at the
helm, also reported total revenues of $38.5 billion for 1999, an
increase of 24 percent over 1998. Net income for the year was $569
million, or 34 cents per share, compared with a net loss of $2.7
billion for the previous year.
Additionally, the company made progress staunching red ink in its
troubled commercial PC business, cutting the group's losses from $169
million in the third quarter to $79 million in the fourth quarter.
Compaq is counting on its recent acquisition of Inacom's build-to-order
PC operations to further boost the unit. "The Inacom assets will enable
Compaq to accelerate our direct programs, especially in the
major-account and small- and medium-business markets," Capellas said.
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