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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (47662)	6/6/2001 4:26:12 PM
From: Proud_Infidel	Respond to of 70976

HP warns slowdown in systems sales is spreading worldwide Semiconductor Business News (06/06/01 11:40 a.m. EST) PALO ALTO, Calif.--The chip industry certainly doesn't want to hear this, but Hewlett-Packard Co. here today warned that it now sees the slowdown in information technology spending starting to spread beyond the U.S. and European markets. During its semiannual update, HP told financial analysts that it is now issuing a more cautious outlook for the immediate months ahead. HP said May sales in both consumer and enterprise markets were softer than expected in all regions of the world. As a result, the Palo Alto company has cut its revenue forecast to show sales being flat-to-down 5% in HP's fiscal third quarter, which ends July 31. "While it is still early in the quarter, May was softer than expected and we are now addressing what is clearly becoming a global slowdown," said Carly Fiorina, chairman, president and chief executive officer. "We are taking additional steps to generate revenues and reduce costs while continuing to implement our long-term growth strategy."