EL..This sucks.
Steve
HOUSTON--(BUSINESS WIRE)--April 9, 1999--Compaq Computer
Corporation (NYSE: CPQ.N) announced that, based on preliminary analysis
of its results for the quarter ended March 31, 1999, it expects to
report results below analysts' estimates. Based upon a $9.4 billion
revenue estimate and a less favorable sales mix, the Company now
expects to report a profit of approximately $.15 per share.
"The quarter's shortfall reflects lower than anticipated market
demand and increased competitive pricing in the commercial PC sector,"
said Earl Mason, Senior Vice President and Chief Financial Officer.
These statements regarding estimated results are preliminary. The
Company expects to announce its final results on April 21, 1999.
Business Outlook
"While market conditions will continue to be competitive, we
fully intend to expand our business and grow market share profitably
in 1999," said Eckhard Pfeiffer, President and Chief Executive
Officer. "We will roll out our enterprise strategy next week as 4,500
customers join us in Houston for Compaq's Innovate 99. The Company
will continue its aggressive drive of reduction of cost and operating
expenses in the face of a very competitive market."
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