OT According to briefing, GTW refuted a Wit Soundview downgrade just 9 days ago...
Gateway Chief Financial Officer John Todd Issues Statement Regarding Wit Soundview
PR Newswire - November 20, 2000 13:36
SAN DIEGO, Nov. 20 /PRNewswire/ -- In Response to a Downgrade from Wit Soundview, Gateway (NYSE: GTW) Chief Financial Officer John Todd issued the following statement:
At Gateway, the past weekend marked the beginning of our holiday selling season, which has historically been our highest volume quarter of the year. As we are a direct-to-client company, our sales in the fourth quarter are concentrated in the second half of the period. Based on current growth rates, we are confident that our sales of PCs -- as well as sales of products and services other than the PC, such as training, Internet service, software and peripherals -- are ramping at expected levels. At the end of the third quarter, non-PC income was more than 50 percent of Gateway's overall income, with half of that recurring in the near term.
Given the success of our beyond-the-box model and current growth trends, we remain comfortable with consensus EPS estimates and guidance on revenue for the fourth quarter and full-year 2000.
About Gateway
Gateway (NYSE: GTW), a Fortune 250 company founded in 1985, focuses on building lifelong relationships with consumers and businesses through complete technology personalization. Gateway ranked number one in U.S. consumer PC revenue in 1999 (1) and was rated among the top ten best corporate reputations in America according to a survey conducted in August of 1999 by Harris Interactive and the Reputation Institute and published in The Wall Street Journal. In 1999, Gateway was seventh in total return to shareholders among Fortune 500 companies and tenth in total shareholder returns over the past five years. (2) Gateway employees worldwide provide clients with services and built-to-order computers that consistently win top awards from leading industry publications. Gateway had total global revenue of $8.65 billion in 1999. For more information, visit our Web site at www.gateway.com
(1) According to GartnerGroup/Dataquest US PC Quarterly statistics.
(2) According to Fortune Magazine, April 17, 2000.
For more information contact media, John Spelich, 858-799-2587, or investors, Marlys Johnson, 605-232-2709, both of Gateway.
SOURCE Gateway
/CONTACT: media, John Spelich, 858-799-2587, or investors, Marlys
Johnson, 605-232-2709, both of Gateway/ |
