HP Reports First Quarter 2013 Results

HP - Press Releases - February 21, 2013 

HP Reports First Quarter 2013 Results 

• First quarter non-GAAP diluted earnings per share of $0.82, down 11% from the prior year, above previously provided outlook of $0.68 to $0.71

• First quarter GAAP diluted earnings per share of $0.63, down 14% from the prior year, above previously provided outlook of $0.34 to $0.37 per share

• First quarter net revenue of $28.4 billion, down 6% year over year and down 4% when adjusted for the effects of currency

• Cash flow from operations of $2.6 billion, up 115% from the prior year

• Returned $511 million in cash to shareholders in the form of dividends and share repurchases

• Improved company net debt position for the fourth consecutive quarter by over $1 billion

PALO ALTO, Calif., Feb. 21, 2013 — HP today announced financial results for its first fiscal quarter ended Jan. 31, 2013. First quarter GAAP diluted earnings per share (EPS) was $0.63, down from $0.73 in the prior-year period and above its previously provided outlook of $0.34 to $0.37 per share. First quarter non-GAAP diluted EPS was $0.82, down from $0.92 in the prior-year period and above its previously provided outlook of $0.68 to $0.71 per share. First quarter non-GAAP earnings information excludes after-tax costs of $373 million, or $0.19 per diluted share, related to the amortization of purchased intangible assets, restructuring charges and acquisition-related charges.

For the first quarter, net revenue of $28.4 billion was down 6% year over year and down 4% when adjusted for the effects of currency.

The complete news release is available at:http://h30261.www3.hp.com/phoenix.zhtml?c=71087&p=irol-newsArticle&ID=1787709&highlight= .

(Source: www.hp.com)