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Friday October 31 6:08 PM EST
Compaq confident on sales despite Asia
HOUSTON, Oct 31 (Reuters) - Compaq Computer Corp chief executive officer Eckhard Pfeiffer said on Friday the company had not been affected in any significant way by the Asian financial crisis, nor did he expect it to be.
Pfeiffer also told Reuters that sales overall were strong as the company entered the holiday shopping season.
''(The Asian crisis) doesn't affect us significantly in manufacturing nor from a market point of view. While Thailand was going through some crisis, we continued selling to 30 other countries,'' he said.
Pfeiffer there had been no indication that the Asia crisis, which drove stock markets down around the world this week, had affected sales. ''No, its very competitive (as) it has been before,'' Pfeiffer said after a speech at the University of Houston.
Compaq's stock was among those battered because of worries the Asian problems would affect U.S. companies' earnings. But Pfeiffer said those concerns ''didn't make a lot of sense.''
He said Compaq had just over 10 percent of its sales in Asia or ''a relatively small share of the (company's) total.''
Pfeiffer said fourth quarter sales were ''as strong as we anticipated...we're on target.'' Historically, he pointed out, the last quarter is a good one because of holiday buying.
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