OT is it a wonder that analyst's estimates shouldn't be fully adhered to? here we have DJN quoting Zack's at $.56. not that it matters a whit (in another article the DJN is quoting First Call at $.54 - they should consider standardizing these processes):
Hewlett-Packard earnings\Intevac outlook\DuPont
(BW) - Hewlett-Packard Co. (NYSE:HWP) Monday reported a 1 percent increase
in net earnings and 5 percent revenue growth for the 1998 fiscal year's
third quarter, which ended July 31. Net earnings for the quarter were $621
million, compared with $617 million in last year's third quarter. Earnings per
share on a diluted basis were 58 cents. A poll of analysts by Zacks estimated
earnings of 56 cents per share. This compares with diluted EPS of 58 cents in
the same quarter last year.
Net revenue for the quarter was $11.0 billion, compared with $10.5 billion
in the year-ago quarter. Net revenue in the United States was $5.2 billion, an
increase of 9 percent compared with a year ago, while revenue from outside the
United States rose 1 percent to $5.8 billion.
Orders for the quarter were $10.5 billion, a 1 percent increase over last
year's third quarter.
Currency effects reduced the company's overall revenue and order growth by
about 4 percentage points.
"Despite a difficult business environment and economic weakness in Asia, we
managed to record modest growth in revenue and earnings," said Lewis E. Platt,
HP chairman, president and chief executive officer. "We're not satisfied with
our overall performance, particularly in these two areas, which were
substantially below the goals we had entering the quarter. We're pleased with
the progress our people made in reducing the rate of expense growth. In
addition, our outcome on asset management was good, with particularly good
progress on inventory levels and accounts receivable." |
