Printer Supplies Sales Increases Profits for HP15 Feb, 2006
Printer Supplies Sales Increases Profits for HP
Hewlett-Packard Co. posted a 23 percent rise in quarterly profit, spurred by sales of notebook computers and printer supplies.
HP, the world's No. 2 PC maker and No. 1 printer maker, said net income for its first fiscal quarter ended January 31 rose to $1.23 billion, or 42 cents per share, from $943 million, or 32 cents per share, a year earlier. Revenue rose to $22.7 billion from $21.5 billion.
Since taking the helm last April, HP Chief Executive Mark Hurd has announced a restructuring calling for the elimination of some 15,300 jobs estimated to save about $1.9 billion annually.
In the imaging and printing group, which accounts for a good deal of the company's overall profits, revenue climbed by 8 percent to $6.5 billion. Supplies revenue rose 11 percent.