HP Reports Favorable Quarter and Unveils New Solutions20 Nov, 2003
HP Reports Favorable Quarter and Unveils New Solutions
Hewlett-Packard has reported financial results for its fourth fiscal quarter ended Oct. 31, 2003. Fourth quarter revenue was $19.9 billion, an increase of 10% year-over-year and 14% over the third fiscal quarter. This compares to analyst consensus estimates of $19.0 billion for the quarter. Key information includes revenue of $19.9 billion, up 10% year-over-year; non-GAAP operating profit of $1.4 billion, up 63% year-over-year; and Enterprise Systems returns to profitability with $106 million operating profit.
HP has also recently unveiled an extensive portfolio of products, services and capabilities to help companies improve productivity and reduce costs by as much as 30 percent in their imaging and printing environments. The centerpiece of the new products is a copier-based line of high-volume multi-function printers, the first of their kind for HP as it enters the $24 billion copier market.
HP's new solutions extend its Total Print Management offering, an integrated portfolio of intelligent devices, network manageability software and customizable services that can cut operation costs and significantly impact the bottom line. The new copier-based HP LaserJet 9055 and 9065 multi-function products (MFPs), as well as the new HP LaserJet 9085 MFP, extend HP’s imaging and printing product portfolio.
HP has signed an agreement with IKON Office Solutions, a leading player in the copier and document management market. The relationship will provide HP broad U.S. distribution and services expertise through IKON's 12,000 sales and service professionals. HP also announced seven regional partners to distribute the high-volume multi-function products.