HP hardware units return to black in Q4

HP hardware units return to black in Q4

HP reported 10 per cent year-over-year revenue growth in its fourth fiscal quarter, driven by higher revenue in all its major product groups.

Managed services were a particularly bright spot during the quarter, HP said, growing 36 per cent year-over-year.

After running in the red both last quarter and in the year-earlier quarter, the company's Personal and Enterprise Systems Groups returned to operating profitability. Only HP's financing unit posted a year-over-year revenue decline.

Net revenue for the quarter, ended October 31, was US$19.9 billion.

Excluding acquisition-related and restructuring charges, the company had per-share earnings of $US0.36, topping the $US0.35 consensus estimate of analysts polled by Thomson First Call.

HP's 2003 revenue was $US73.1 billion, up fractionally from the $US72.3 billion total HP said it would have reported in 2003 had it and Compaq operated as a combined company for the full year.

HP's Imaging and Printing Group was its strongest unit during the quarter, posting revenue of $US6.2 billion and operating profit of just over $US1 billion. In contrast, the Personal Systems Group brought in nearly as much revenue, $US6 billion, but had a profit of only $US21 million.

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