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HPQ » Topics » Exhibit 99.2 Filed GAAP Quarterly Financial Statements

This excerpt taken from the HPQ 8-K filed Nov 16, 2006.

Exhibit 99.2     Filed GAAP Quarterly Financial Statements


Item 2.02 Results of Operations and Financial Condition
 
On November 16, 2006, Hewlett-Packard Company (“HP”) issued a press release relating to its fiscal quarter and fiscal year ended October 31, 2006 entitled “HP Reports Fourth Quarter 2006 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 and fiscal year ended October 31, 2006 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 income, 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 fourth fiscal quarter and fiscal year ending October 31, 2006 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 Measures” 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 income, diluted earnings per share, or cash and cash equivalents prepared in accordance with GAAP.
 
Item 8.01 Other Events
 
As previously disclosed in HP’s Exchange Act reports, HP is the subject of various governmental inquiries by the Attorney General of the State of California, the Committee on Energy and Commerce of the U.S. House of Representatives, the United States Attorney’s Office for the Northern District of California, and the Division of Enforcement of the U.S. Securities and Exchange Commission concerning the processes employed in certain investigations into leaks of HP confidential information to members of the media. HP has been informed that the Securities and Exchange Commission has issued a formal order of investigation in its inquiry. In addition to those previously disclosed inquiries, HP has received a request from the Federal Communications Commission for records and information relating to those leak investigations. HP is responding to that request and is cooperating fully with all of the continuing inquiries.
Four stockholder derivative lawsuits have been filed in California allegedly based on the activities of the leak investigations. A similar stockholder derivative lawsuit has been filed in Delaware. The HP Board of Directors has appointed a Special Litigation Committee consisting of two independent Board members authorized to investigate, review, and evaluate the facts and circumstances asserted in these derivative matters and to determine how HP should proceed in these matters.
 
Item 9.01 Financial Statements and Exhibits
 
Exhibit 99.1 Text of HP’s press release relating to its fiscal quarter and fiscal year ended October 31, 2006, entitled “HP Reports Fourth Quarter 2006 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 the fiscal quarter and fiscal year ended October 31, 2006 (filed herewith).
This excerpt taken from the HPQ 8-K filed Aug 16, 2006.

Exhibit 99.2     Filed GAAP Quarterly Financial Statements


Item 2.02 Results of Operations and Financial Condition
 
On August 16, 2006, Hewlett-Packard Company (“HP”) issued a press release relating to its fiscal quarter ended July 31, 2006 entitled “HP Reports Third Quarter 2006 Results.” The text of this press release, with the related non-GAAP consolidated condensed financial information, the consolidated condensed statements of cash flows 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”).

In connection with its press release announcing its earnings for its fiscal quarter ended July 31, 2006, HP also provided its GAAP consolidated condensed statements of earnings, consolidated condensed balance sheets and segment information for the fiscal quarter ended July 31, 2006 filed herewith as Exhibit 99.2. 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 income, 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 this quarter, 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 income, diluted earnings per share, or cash and cash equivalents prepared in accordance with GAAP.
 
Item 8.01 Other Events
 
The board of directors of HP has authorized an additional $6.0 billion for future repurchases of its outstanding shares of common stock. HP intends to use the additional authorization to repurchase its shares from time to time to offset the dilution created by shares issued under employee benefit plans and to repurchase shares opportunistically as a means of returning cash to its stockholders. During its fiscal quarter ended July 31, 2006, HP repurchased approximately $2.7 billion worth of its shares, including $431 million under an existing prepaid variable share repurchase program. As of July 31, 2006, HP had $645 million of repurchase authorization remaining under the $4.0 billion repurchase authorization approved in February 2006.
 
Item 9.01 Financial Statements and Exhibits
 
Exhibit 99.1 Text of HP’s press release relating to its fiscal quarter ended July 31, 2006, entitled “HP Reports Third Quarter 2006 Results,” with the related non-GAAP consolidated condensed financial information, the consolidated condensed statements of cash flows and certain additional financial information (furnished herewith).
 
Exhibit 99.2 HP’s GAAP consolidated condensed statements of earnings, consolidated condensed balance sheets and segment information for the fiscal quarter ended July 31, 2006 (filed herewith).
This excerpt taken from the HPQ 8-K filed May 16, 2006.

Exhibit 99.2     Filed GAAP Quarterly Financial Statements


Item 2.02 Results of Operations and Financial Condition
 
On May 16, 2006, Hewlett-Packard Company (“HP”) issued a press release relating to its fiscal quarter ended April 30, 2006 entitled “HP Reports Second Quarter 2006 Results.” The text of this press release, with the non-GAAP consolidated condensed statements of earnings, the consolidated condensed statements of cash flows and certain additional financial information, is furnished herewith as Exhibit 99.1. The information in Exhibit 99.1 attached hereto 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”).
 
In connection with its press release announcing its earnings for its fiscal quarter ended April 30, 2006, HP also provided its GAAP consolidated condensed statements of earnings, consolidated condensed balance sheets and segment information for the fiscal quarter ended April 30, 2006 filed herewith as Exhibit 99.2. 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 certain non-GAAP financial measures. Each of these non-GAAP measures is among the primary indicators management uses as a basis for planning and forecasting future periods. We believe that these non-GAAP measures provide both management and investors with a more complete understanding of the underlying operating results and trends and an enhanced overall understanding of HP’s financial performance, liquidity and prospects for the future. This non-GAAP information is not meant to be considered in isolation or as a substitute for financial measures prepared in accordance with GAAP. Additional information about HP’s use of non-GAAP financial information is included in Exhibit 99.1.
 
Item 9.01 Financial Statements and Exhibits
 
Exhibit 99.1 Text of HP’s press release relating to its fiscal quarter ended April 30, 2006, entitled “HP Reports Second Quarter 2006 Results,” with the non-GAAP consolidated condensed statements of earnings, the consolidated condensed statements of cash flows and certain additional financial information (furnished herewith).
 
Exhibit 99.2 HP’s GAAP consolidated condensed statements of earnings, consolidated condensed balance sheets and segment information for the fiscal quarter ended April 30, 2006 (filed herewith).

EXCERPTS ON THIS PAGE:

8-K
Nov 16, 2006
8-K
Aug 16, 2006
8-K
May 16, 2006

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