18 November 2005 – Palo Alto (CA): Hewlett-Packard (HP) has reported a 7 per cent rise in Q4 sales, but saw its earnings tumble 62 per cent following a $1.1 billion charge for restructuring initially announced in July.
The company posted profit of $416 million, or EPS of $0.14, compared with $1.09 billion, or EPS of $0.37, the year before.
Excluding special item costs, primarily related to restructuring, HP earned $1.5 billion, or EPS of $0.51, compared with $1.2 billion, or EPS of $0.41, in the year-ago period.
Total sales beat Wall Street expectations to hit $22.9 billion, with gains reported at all of the firm’s divisions.
The company forecast Q1 revenue of up to $22.6 billion and profit of EPS of $0.46 to $0.48.