HP Reports First Quarter 2011 Results

  • First quarter GAAP diluted earnings per share up 26% year over year with non-GAAP diluted earnings per share up 27% and cash flow from operations up 28%
  • First quarter gross margins up 1.5 percentage points year over year to 24.4%
  • Continued strength in commercial hardware, with Enterprise Servers, Storage and Networking revenue up 22% year over year with growth in commercial PC Clients and Printers of 11% and 13%, respectively
  • Raising full year GAAP diluted earnings per share outlook to $4.46 to $4.54 and non-GAAP diluted earnings per share outlook to $5.20 to $5.28

PALO ALTO, Calif. — (BUSINESS WIRE) — February 22, 2011 — HP (NYSE: HPQ) today announced financial results for its first fiscal quarter ended January 31, 2011. Net revenue of $32.3 billion was up 4% from the prior-year period both as reported and in constant currency.

GAAP diluted earnings per share (EPS) was $1.17, up 26% from $0.93 in the prior-year period. Non-GAAP diluted EPS was $1.36, up 27% from $1.07 in the prior-year period. Non-GAAP financial information excludes after-tax costs of approximately $0.19 per share and $0.14 per share in the first quarter of fiscal 2011 and 2010, respectively, related primarily to the amortization of purchased intangibles, restructuring charges and acquisition-related charges. Information about HP’s use of non-GAAP financial information is provided under “Use of non-GAAP financial information” below.

“I’m pleased with our EPS and margin expansion during the quarter. Going forward, we have the opportunity to further capitalize on our customers’ demands for higher value-added solutions,” said Léo Apotheker, HP president and chief executive officer. “HP has a powerful portfolio, including exciting, recently announced cloud and connectivity offerings. We are focused on leveraging these strengths to extend our leadership and accelerate growth.”

 

Q1 FY11

 

Q1 FY10

 

Y/Y

Net revenue ($B) $32.3   $31.2   4%
GAAP operating margin 10.5%   9.6%   0.9 pts
GAAP net earnings ($B) $2.6   $2.3   16%
GAAP diluted EPS $1.17   $0.93   26%
Non-GAAP operating margin 12.4%   11.2%   1.2 pts
Non-GAAP net earnings ($B) $3.0   $2.6   17%
Non-GAAP diluted EPS $1.36   $1.07   27%

1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
Trimble

Harris

Featured Video
Jobs
SYSTEMS INTEGRATOR for Palm Beach County Human Resources at West Palm Beach, FL
Solidworks Product Designer for NASCENT Technology at Charlotte, NC
Developer-Support-Implementation Engineer for EDA Careers at San Francisco Area, CA
CAD/CAM Regional Account Manager (Pacific Northwest) for Vero Software Inc. at Seattle, WA
Upcoming Events
GEO - TUNIS 2017 at 112 RUE RADHIA HADDAD TUNIS tunis Tunisia - Apr 25 - 29, 2017
Symposium: The use of drones in agriculture and management of resources and development plans at 112 RUE RADHIA HADDAD TUNIS TUNIS Tunisia - Apr 26 - 28, 2017
8th International Summer School on Applied Geoinformatics for Society and Environment: Crisis and Disaster Management at University of Tehran, Kish International Campus Kish Island Iran - Apr 29 - 4, 2017
Teledyne Optech
Teledyne:
GEOINT2017
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy