HP's Q4 Revenue Rises 9% From Q3
"Operating profit improved sequentially in Enterprise Systems, Personal Systems, HP Services, and Imaging and Printing," chairwoman/CEO Carly Fiorina said. "Cost structure improvements are helping us compete more aggressively, improve our market position and grow top-line revenues; and HP generated $1.5 billion in cash from operations in the quarter."
Results for specific divisions were:
· Imaging and Printing delivered record revenue of $5.6 billion, HP said, up 18 percent from the third quarter and 12 percent over the '01 Q4.
· Personal Systems cut its operating loss from the previous quarter by 56 percent. Revenue was $5.1 billion, up 6 percent from the third quarter and down 6 percent compared to the '01 Q4.
· Enterprise Systems had an operating loss of $152 million. But that was an improvement of $270 million from the previous quarter, HP said, due to progress in reducing structural costs.
· HP Services reported revenue of $3.1 billion, up 4 percent over the third quarter and down 3 percent from last year. Operating profit for HP Services was $381 million.
· Revenue at Financial Services was $537 million, up 5 percent from the third quarter and down 1 percent from a year ago.