Hewlett-Packard announced the firing of three top executives after reporting a dismal quarter and acknowledging that the company's failure to execute on its own internal computing initiatives left it vulnerable to competitors
Published:
15 August 2004 y., Sunday
Hewlett-Packard announced the firing of three top executives after reporting a dismal quarter and acknowledging that the company's failure to execute on its own internal computing initiatives left it vulnerable to competitors.
HP, which released earnings a week before they were expected, fell far short of targets and lowered its profit outlook going forward. HP earned US$586 million, or 24 cents a share, in its fiscal third quarter, 7 cents below targets. HP did manage to grow revenue year over year to $18.9 billion, in part on the strength of growing consumer PC sales.
HP shares tumbled some 13 percent Thursday and were losing ground again Friday morning, down 1 percent to $16.73 by midday. By contrast, Dell reported a strong second quarter, with revenues setting a company record and profit up 29 percent, and maintained its outlook going forward.
In the aftermath of HP's results, CEO Carly Fiorina announced that three executives, including those responsible for sales of servers and storage system as well as a push to migrate HP to new systems designed to make it more efficient, were being fired.
An internal effort to install a new supply-chain management and order-processing system took twice as long as expected and resulted in the company having to slash prices to move some equipment off the shelves.
Šaltinis:
E-Commerce Times
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
New legislation for pan-European supervision of credit rating agencies and a public debate on how financial institutions are managed.
more »
On 2 June in Vilnius, Lithuania‘s Vice-Minister of Foreign Affairs Asta Skaisgirytė Liauškienė and Deputy Director General of the World Trade Organization Rufus H. Yerxa discussed the main issues on the international trade policy agenda, Russia‘s WTO accession and the changing role of China in the world economy.
more »
2157 former construction workers in Spain and 598 ex-employees at the Irish crystal glass company Waterford Crystal with suppliers could get €11 million in EU globalisation adjustment fund aid for training, self-employment and professional orientation under plans approved by the Budgets Committee on Wednesday.
more »
Companies from the UK, Belgium, Germany and Spain have won the 2010 European Business Awards for the Environment.
more »
The planned overhaul of EU fisheries policy should devolve more powers to regions, protect small coastal fleets and boost aquaculture, said MEPs and members of national parliaments on Tuesday.
more »
The first in a series of loan agreements for energy efficiency investments in multi-apartment buildings was signed today between the European Investment Bank (EIB), as manager of the JESSICA holding fund in Lithuania, and Šiaulių bankas.
more »
Despite the current economic crisis and tensions in the euro, Estonia is set to adopt the single currency in January.
more »
Commission proposes a bank tax to cover the costs of winding down banks that go bust.
more »
The European Investment Bank will provide a total of EUR 400 million to Hellenic Petroleum SA in order to increase the production of cleaner fuels via the upgrading of the Elefsina refinery.
more »
European ministers meet on Tuesday and Wednesday in Brussels at the final Competitiveness Council to be held during the six months of the Spanish Presidency, which has an agenda laden with important issues such as the electric vehicle, the European patent system and national R+D investment goals.
more »