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
GIS Analyst for G2 Partners LLC at San Ramon, CA
GIS Software Developer for UDC at Englewood, CO
GIS Software Developer for SoCalGas at Los Angeles, CA
Vice President, Transportation Services for Associated General Contractors of New York State at Albany, NY
Architectural Designer for Champion Home Builders at Troy, MI
Upcoming Events
GEO WEEK 2017 at Washington DC - Oct 23 - 27, 2017
GIS-PRO 2017 at Jacksonville FL - Oct 23 - 26, 2017
Commercial UAV EXPO Americas at The Westgate Resort Las Vegas NV - Oct 24 - 26, 2017
6th International Colloquium on Scientific and Fundamental Aspects of GNSS / Galileo at Technical University of Valencia Valencia Spain - Oct 25 - 27, 2017
Teledyne Optech
Teledyne:
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — 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 PolicyAdvertise