HP's Q4 Revenue Rises 9% From Q3

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Revenue at Hewlett-Packard in the fiscal fourth quarter was $18 billion, the company said yesterday, up 9 percent over the third quarter and slightly below the $18.2 billion in revenue for last year's fourth quarter.

"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.

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