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To: JRI who wrote (81004)	11/17/1998 3:14:00 PM
From: ratan lal	Respond to of 176388

up 20.17 good enuf to call you JOHN ROSSER, MD

To: JRI who wrote (81004)	11/17/1998 3:19:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 176388

Hey did you happen to see the fastest growing co in the world?This ain't it. Hewlett Sees Revenue Growth Slowing In 1999 1.20 p.m. ET (1820 GMT) November 17, 1998 NEW YORK — Hewlett-Packard Co. confirmed Tuesday that it expects revenue growth to slow during fiscal 1999 due to continued weakness in the world economy and some sluggishness now showing up in its U.S. markets. Steve Beitler, manager of investor communications for the world's third-largest computer maker, said the company had guided analysts to expect revenue growth of 8 to 10 percent in fiscal 1999, down from previous Wall Street forecasts of 10 to 12 percent. The guidance was initially reported by analysts who took part in a conference call with Hewlett-Packard officials Monday night. "That's true,'' Beitler said. "That is the guidance we gave.'' The lower revenue growth expectations came on the heels of the company's fourth-quarter earnings report, released after the market closed Monday. Several analysts who had been on the high side of Wall Street's earnings forecasts cut their estimates Tuesday. Also, DLJ analyst Kevin McCarthy cut his rating on Hewlett-Packard shares to underperform from market perform. Investors responded by driving the shares down 9 percent to $60.125, a decline of $5.875 from Monday's close. While the company's fourth-quarter earnings were better than expected, revenues and new orders were below what Wall Street had forecast. Beitler said the first half of fiscal 1999, or the quarters ending in January and April, would face difficult comparisons with the first half of fiscal 1998. For example, first quarter 1998 revenues grew 15 percent versus the 1997 first quarter. He said the company had been suffering from the economic downturn in Asia and was concerned about recent weakness it had seen in Latin America and the United States. On a brighter note, Hewlett-Packard expects to show continued restraint over corporate expenses and should begin to benefit from new product cycles in several key businesses in the coming quarters, Beitler said. During the fourth quarter, ended in October, Hewlett-Packard officials achieved a substantial victory in their long-running battle against out-of-control expenses. In the first half of fiscal 1998 costs grew 17 percent versus the 1997 first half, but the rise was only 4 percent in the fiscal third quarter, and costs were flat in the fourth quarter versus a year earlier, he said. Beitler said the company was entering a new product cycle in its desktop printing business after introducing new products recently. Hewlett-Packard is the world leader in personal computer printers. Also, company officials said during the Monday night conference call that the company expects to introduce a new UNIX server system in December. The machines are the core of Hewlett-Packard's large computer systems business and are used