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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Don Martini who wrote (80791)	11/16/1998 4:42:00 PM
From: D.J.Smyth	Respond to of 176387

CIBC's Poyner wrong on HP's revenue projections: (sounds familiar) 15:35 DJS Hewlett-Packard Posts 12% Drop In Net Income On Weak Sales Growth 15:35 DJS Hewlett-Packard Posts 12% Drop In Net Income On Weak Sales Growth NEW YORK -(Dow Jones)- Hewlett-Packard Co. late Monday posted a 12% decrease in fiscal fourth-quarter earnings on weak revenue growth but the results weren't as bad as analysts had expected. Palo Alto, Calif.-based H-P (HWP) said net income came to $710 million, or 68 cents a share on a fully diluted basis, compared with $806 million, or 75 cents a diluted share, in the year-earlier period. Revenue increased 3.7% to $12.23 billion. However the latest results included charges related to job cuts. Excluding the charges, the company said it would have posted earnings of 79 cents per share. The mean estimate of analysts surveyed by First Call was for earnings, excluding charges, of around 74 cents per share. Although the bottom line was better than analysts had expected, most company watchers were hoping the the nation's fourth-largest personal computer maker could boost order growth in the period ended Oct. 31. CIBC Oppenheimer Corp. analyst James Poyner said the earnings upside was "driven by expense management as opposed to revenue growth." Poyner was looking for a revenue rise of 5% to 6% to $12.5 billion. The company posted a 1% growth rate in its fiscal third quarter because of several factors, including problems in Asian markets and the firm backing off from aggressive pricing in PCs. H-P, regarded by many as one of the most conservative companies in the technology industry, and International Business Machines Corp. are the only technology companies whose stocks are used in the formula used to calculate the famed Dow Jones Industrial Average. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved. 11/16 3:35p CST