Gateway beats estimates and matches the whisper# of $0.62/sh. Note the Asia blurb.......this, combined with IBM easing some of the worries should help ATI tomorrow.
Thursday April 22, 5:47 pm Eastern Time
Gateway earnings rise, business 'never been stronger'
LOS ANGELES, April 22 (Reuters)- Gateway Inc. (GTW - news) posted better-than-expected earnings on Thursday, with the nation's
third-largest direct seller of computers gushing that business ''has never been stronger''.
Gateway said its first quarter earnings were 62 cents a share, compared with 48 cents a year earlier and beating Wall Street consensus
estimates of 60 cents a share.
The company, based in North Sioux City, South Dakota, said net income for the quarter rose to $99.58 million on revenues of $2.1 billion, compared with profits of $75.87
million on revenues of $1.7 billion a year earlier.
Gateway said the rise was powered by strong momentum in the U.S. and Asia-Pacific markets. It said its strong personalized hardware and Internet features helped to win
consumers.
Gateway said it shipped more 1.085 million computers in the United States in the first three months, 42 percent more than a year earlier. Shipments to the Asia-Pacific region
soared 96 percent over last year, it said.
''Our consumer business has never been stronger, and now we're positioned to expand that success into the small and mid-sized business arena,'' Gateway Chief Executive
Officer Ted Waitt said in a statement.
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