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Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (702)	6/3/2002 2:26:07 PM
From: PCSS	Respond to of 4345

HP Helps DreamWorks Create ''Spirit: Stallion of the Cimarron''; Film Represents Re-invention of Traditional Animation into ''Tradigital'' Format PALO ALTO & GLENDALE, Calif., Jun 3, 2002 (BUSINESS WIRE) -- HP (HPQ) today announced that its Linux-based technology played a critical role in the production of "Spirit: Stallion of the Cimarron," the newest animated film from DreamWorks SKG. To date, the film has grossed more than $38.7 million. The popular movie is the first to place Linux in the hands of traditional animators, allowing for a seamless blend of two-dimensional (2D) with three-dimensional (3D) animation, a format that DreamWorks calls "tradigital" animation. During the making of the film, HP engineers worked closely with DreamWorks to enhance the functionality of Linux to power ToonShooter(TM), DreamWorks' proprietary 2D animation software. ToonShooter allows animators to convert traditional hand-drawn artwork into a digital format that can be easily played back and manipulated during production. ToonShooter's video playback feature needed to run at film speed (24 frames-per-second) with synchronized audio. At the time, 2D playback at that speed had never been achieved on Linux. HP and DreamWorks worked together to enable ToonShooter to perform at well above the necessary 24 frames-per-second, running on Linux. The result is a film with visual dimensions never before achieved in traditionally-animated films. "HP is giving our animators the chance to stay a step ahead of today's production technology and helping them focus on what they do best -- creating memorable films for audiences," said Ed Leonard, head of animation technology, DreamWorks. To complete the film, DreamWorks used high-performance HP Linux workstations and HP servers. The combination allowed DreamWorks to leverage the visual power of 3D while preserving the expressiveness of hand-drawn animation to enhance the film's detail. The result has set a new benchmark for the visual complexity and richness of traditionally animated films. "DreamWorks pushes the limits of Linux-based computer technology in a constant effort to lower costs and provide animators with the best filmmaking tools possible," said Terry Brown, manager, HP Entertainment Industry Solutions. "As the face of digital animation continues to change rapidly, HP is pleased to help DreamWorks stay on the cutting edge of today's technology." HP and DreamWorks began their relationship two years ago when the studio determined that driving down costs and production time while leveraging emerging technologies was imperative to success. DreamWorks is currently in production with three animated films using HP technology which will be produced almost exclusively using Linux. Earlier this year, HP and DreamWorks announced a three-year multi-million dollar technology alliance with HP providing the computing infrastructure for DreamWorks' next-generation digital studio. The Glendale-based studio is beginning production on an all-computer graphics animated feature.

To: Elwood P. Dowd who wrote (702)	6/3/2002 3:23:12 PM
From: PCSS	Read Replies (3) \| Respond to of 4345

Analysts seek clearer picture from HP update By By Scott Morrison in Boston FT.com Jun 3 2002 19:02 Hewlett-Packard is expected to provide more detailed financial guidance and a post-merger update when it meets Wall Street analysts on Tuesday in the first such gathering since it closed its $19bn acquisition of Compaq Computer a month ago. Analysts say they are keenly awaiting indications on results for the third quarter ending in July, the first reporting period that will include consolidated results from Compaq. HP last month offered a sober outlook for IT spending, warning that any recovery in the second half would be muted and that a meaningful improvement was not expected until next year. During the company's earnings call last month Bob Wayman, chief financial officer, said he would take advantage of Tuesday's meeting to provide guidance and revised financial metrics to help analysts prepare their business models. He also said he would offer more details about how the company would have performed if it had been one entity in 2001. That would help analysts establish benchmarks by which they could judge the enlarged HP's performance. Analysts say they want to learn more about the combined company's revenue projections for its various business units in the current fiscal year, and possibly beyond. HP said the combined company would not suffer a revenue loss of more than 4.9 per cent as a result of the merger. And company watchers are looking for more detail on how HP intends to achieve $2.5bn in annual synergies as a result of the merger. Company officials have repeatedly suggested their $2.5bn target is a "high confidence" number and that actual cost savings could be much greater. But without more detail, some observers said it was impossible to know whether HP could in fact deliver more significant savings. The company earlier this year fought a nasty proxy battle with then-director Walter Hewlett, who claimed the Compaq transaction would destroy shareholder value. Mr Hewlett's camp lost the shareholder vote but then went to court alleging management had provided financial targets it knew were unattainable. However, Mr Hewlett's team was unable to sway the judge hearing his lawsuit. As a result of Mr Hewlett's challenges, HP's financial models were among the most closely scrutinised merger forecasts in US corporate history. HP has also said it would provide an update on the group's post merger integration progress and discuss milestones by which future progress could be measured. The company also said it would discuss the pace at which it was cutting headcount and it would provide an update on the response to the early retirement programme in the US. Carly Fiorina, HP chairman and chief executive, has said the company began offering early retirement to 9,000 qualified US employees, as well as an unspecified number of employees eligible for HP's global workforce reduction programme. HP pledged to provide details of these programmes, at Tuesday's analyst gathering. Mr Wayman is also expected to update the Wall Street community on the company's capital spending plans.