HP, one of the leading technology company said it had marked 28.8 billion dollars revenue in the first fiscal quarter (ended on January 31, 2009), namely a 1% growth from last year and 4% when adjusted for the effects of currency.
In the first quarter, GAAP operating profit was 2.5 billion dollars while GAAP diluted earnings per share was down 0.75 dollars from 0.80 dollars in the prior-year period.
Non-GAAP operating profit was 3.1 billion dollars, while non-GAAP diluted earnings per share was 0.93 dollars, up from 0.86 dollars a year earlier.
Non-GAAP financial information excludes 431 million dollars of adjustments on an after-tax basis, or 0.18 dollars per diluted share, related primarily to amortization of purchased intangible assets, restructuring charges and acquisition-related charges. GAAP and Non-GAAP diluted EPS include 0.03 dollars of charges related to currency hedging losses.
Revenue grew 11% in the Americas to 12.4 billion dollars. In Europe, Middle East and Africa, the revenues slid 3% and in Asia Pacific fell by 11%, down to 12 billion dollars and 4.4 billion dollars respectively.
When adjusted for the effects of currency, revenue grew 13% in the Americas and 1% in Europe, the Middle East and Africa while declining 9% in Asia Pacific.
Revenue from outside of the United States in the first quarter accounted for 65% of total revenue, with revenue in the BRIC countries (Brazil, Russia, India and China) declining 22% over the prior-year period while accounting for 7% of total HP revenue.
HP estimates second quarter revenue will decline approximately two to three percent in the fiscal year 2009 from the prior-year period. The IT giant estimates full fiscal year revenue will decline approximately two to five percent from the prior-year period.
HP’s outlook for the second quarter of and the full fiscal year 200
