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Technology Stocks : Hewlett-Packard (HPQ)

HPQ 25.28

-3.8%

Nov 10 3:59 PM EST

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From: kumar	6/6/2006 9:08:32 AM
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HPQ Tuesday revised its previously disclosed results for the second quarter to reflect a settlement with the Internal Revenue Service related to an audit of the company's tax returns for 1996 through 1998. The Palo Alto, Calif., computer and printer giant said the settlement adds $443 million, or 15 cents a share, to earnings for the second quarter, bringing its reported GAAP (generally accepted accounting principles) profit to $1.9 billion, or 66 cents a share. On a non-GAAP basis, the Dow component revised earnings to $2 billion, or 69 cents a share. The company also lifted its outlook for the full year to reflect the added net income from the settlement. It now sees GAAP earnings of $2.02 to $2.06 a share and non-GAAP earnings of $2.19 to $2.33 a share for fiscal 2006. The stock closed Monday at $31.59, down 2.5%

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