On May 16, 2007, Hewlett-Packard Company (“HP”)
issued a press release relating to its fiscal quarter ended April 30, 2007 entitled “HP Reports
Second Quarter 2007 Results.” The text of this press release, with the
related GAAP consolidated condensed statements of earnings, GAAP consolidated condensed
balance sheets, adjustments to certain GAAP financial information, GAAP consolidated condensed
statements of cash flows, certain segment and business unit information, and certain additional
financial information, is furnished herewith as Exhibit 99.1. The information in Exhibit 99.1 shall
not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), and shall not be deemed incorporated by reference into
any filing under the Securities Act of 1933, as amended (the “Securities Act”) solely as
a result of being included in Exhibit 99.1.
HP’s GAAP consolidated condensed statements of earnings, GAAP consolidated condensed
balance sheets and certain segment information for the fiscal quarter ended April 30, 2007 and fiscal year to date also
are filed herewith as Exhibit 99.2. The information in Exhibit 99.2 is filed for purposes of Section 18
of the Exchange Act and therefore may be incorporated by reference into filings under the Securities
Act.
To supplement HP’s consolidated condensed financial statements presented on a GAAP
basis, HP provides non-GAAP operating profit, non-GAAP operating margin, non-GAAP net earnings, non-GAAP
diluted earnings per share and gross cash. HP also provides forecasts of non-GAAP diluted earnings per
share. A reconciliation of the adjustments to GAAP results for HP’s second fiscal quarter ended
April 30, 2007 and fiscal year to date and prior periods is included in the tables that are a part of Exhibit 99.1. In addition, an
explanation of the ways in which HP management uses these non-GAAP measures to evaluate its
business, the substance behind HP management’s decision to use these non-GAAP measures,
the material limitations associated with the use of these non-GAAP measures, the manner in
which HP management compensates for those limitations, and the substantive reasons why HP
management believes that these non-GAAP measures provide useful information to investors is
included under “Use of Non-GAAP Financial Information” in Exhibit 99.1. This additional
non-GAAP financial information is not meant to be considered in isolation or as a substitute for
operating profit, operating margin, net earnings, diluted earnings per share, or cash and cash
equivalents prepared in accordance with GAAP.
Item 9.01
Financial Statements and Exhibits.
Exhibit 99.1
Text of HP’s press release relating to its
fiscal quarter ended April 30, 2007, entitled “HP Reports Second Quarter 2007 Results,”
with the related GAAP consolidated condensed statements of earnings, GAAP consolidated condensed balance
sheets, adjustments to certain GAAP financial information, GAAP consolidated condensed statements of cash
flows, certain segment and business unit information, and certain additional financial information (furnished
herewith).
Exhibit 99.2
HP’s GAAP consolidated condensed statements
of earnings, GAAP consolidated condensed balance sheets, and segment information for its second fiscal quarter
ended April 30, 2007 and fiscal year to date (filed herewith).
Bet you've never seen portfolio analytics like these.
