Dogpaq by the number.
CompaqQ2 shr loss $0.10, sales rise
First Call estimate was loss $0.11 per share.
HOUSTON, July 28 (Reuters) -
COMPAQ COMPUTER CORPORATION
CONSOLIDATED BALANCE SHEET
(Unaudited)
Jun 30, Dec 31,
(In millions, except par value) 1999 1998
ASSETS
Current assets:
Cash and cash equivalents $2,855 $4,091
Accounts receivable, net 6,556 6,998
Inventories 2,224 2,005
Deferred income taxes 1,382 1,602
Other current assets 451 471
Total current assets 13,468 15,167
Property, plant and equipment,
less accumulated depreciation 3,018 2,902
Deferred income taxes 1,762 1,341
Intangible and other assets 4,177 3,641
22,425 23,051
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable 4,152 4,237
Income taxes payable 385 282
Accrued restructuring costs 713 1,110
Other current liabilities 5,126 5,104
Total current liabilities 10,376 10,733
Postretirement and other
postemployment benefits 524 545
Minority interest -- 422
Stockholders' equity:
Preferred stock, $.01 par value
(authorized: 10 million
shares; issued: none) -- --
Common stock and capital in
excess of $.01 par value
(authorized: 3 billion shares;
issued and outstanding:
1,709 million and 1,693 million
shares at June 30, 1999 and
1,698 million and 1,687 million
shares at December 31, 1998)
7,520 7,270
Retained earnings 4,552 4,501
Accumulated comprehensive income 5 (36)
Treasury stock (at cost) (552) (384)
Total stockholders' equity 11,525 11,351
22,425 23,051
COMPAQ COMPUTER CORPORATION
CONSOLIDATED STATEMENT OF INCOME
(Unaudited)
Six months ended June 30, Quarter ended June 30,
(In millions, except -------------------------
----------------------
per share amounts) 1999 1998 1999 1998
Revenue:
Products $15,600 $10,947 $7,781 $5,372
Services 3,239 572 1,639 460
Total revenue 18,839 11,519 9,420 5,832
Cost of sales:
Products 12,338 9,007 6,331 4,406
Services 2,238 379 1,153 316
Total cost of sales 14,576 9,386 7,484 4,722
Selling, general and
administrative expense 3,209 1,836 1,732 1,051
Research and
development costs 870 494 466 249
Purchased in-process
technology - 3,234 - 3,234
Restructuring and
asset impairment charges - 393 - 393
Other income and
expense, net 42 (74) 8 (44)
4,121 5,883 2,206 4,883
Income (loss) before
provision for income taxes 142 (3,750) (270) (3,773)
Provision (benefit)
for income taxes 45 (134) (86) (141)
Net income (loss) 97 (3,616) (184) (3,632)
Earnings (loss) per
common share:
Basic 0.07 (2.35) (0.10) (2.33)
Diluted 0.07 (2.35) (0.10) (2.33)
Shares used in
computing earnings
(loss) per common share:
Basic 1,691 1,539 1,693 1,556
Diluted 1,741 1,539 1,693 1,556
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