Gateway returns to profit

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16 August 2005 – Irvine (CA): Gateway has reported a Q2 net profit of $17.2 million compared to a net loss of $339 million a year earlier. The company made a profit for the first time after 13 consecutive quarters of net losses. Q2 revenue increased to $873 million from $838 million in Q2 2004.

 

The company has said that pricing and cost pressures have contributed to it lowering its earnings forecast for 2005 from between 15 and 17 cents to between 11 and 13 cents. Gateway has also lowered its revenue forecast from between $4 billion and $4.25 billion to between $3.9 billion and $4 billion.