COMPAQ Takes a DIVE
This are the headlines on MSNBC at 5:30am
Dorine
Compaq hits the numbers but profit off sharply
By Margaret Kane, ZDNN
April 15, 1998 5:35 AM PDT
Compaq Computer Corp., hurt by slow commercial sales and aggressive price cuts, today posted a dramatic drop in net income for the first quarter. And it will be at least one more quarter before the company is back on track, executives said.
Compaq (CPQ) reported net income of $16 million, or one cent per share, down from $414 million or 28 cents per share in the year ago quarter. Sales did rise slightly during the quarter, hitting $5.69 billion, compared to $5.27 billion in the year ago period.
Compaq warns of trouble ahead.
|
