Reuters Key Development - May 28, 2009
"Hewlett-Packard Co. got a $9.2 million contract to sell 4,350 tablet computers to the United States Marine Corps."
"NEW YORK (Reuters) – Hewlett-Packard (HPQ.N) on Monday launched a $2.7 billion, three-part sale of notes via Banc of America Securities, Deutsche Bank and RBS Greenwich Capital, according to IFR."
In light of missing revenue projections for the fiscal quarter that ended on January 31, HPQ has reduced its full-year earnings forecast.
HPQ will incorporate EDS into its tech solutions group.
HPQ reports Q4 earnings of $2.1 billion, down from $2.16B in the same quarter last year.
HP's revenue increased 10% to $28 billion for Q3, or 5% in constant currency terms. 68% of HP's sales occured outside the US, with sales growth of 4% in the Americas, 16% in Europe/Middle East/Africa, and 14% in Asia/Pacific. Operating profit increased 20% to $2.7 billion. While all of HP's divisions posted revenue increases, Q3's strong results were driven largely by a 20% increase in unit shipments for personal computers. Printer sales fell 2% for the quarter.
HP announced plans to purchase the business network systems maker EDS for $13.9 billion.
HP posted a strong first quarter with PC sales up 24% over a year ago. In addition, HP forecasted positive earnings for next quarter.
Opsware is a data center automation software firm founded by Marc Andreessen (creator of Netscape)
PC shipments grew about 12% in Q2 versus the same time period in 2006. Two independent research firms (IDC and Gartner) ranked HP as having the largest global share, ahead of Dell and Lenovo.
Dell did, however, beat HP in terms of market share in the U.S.
Reports show that HP retained its worldwide lead over Dell in the PC market through the first quarter of 2007.
HP and Microsoft announce a three year agreement to work together to develop IT solutions for enterprise customers.