
Profit just around the corner?
Published: 8 January 2002 11:00 GMT
Compaq lifted some of the gloom surrounding the PC industry last night by predicting it will post a profit for its fourth quarter.
The company is due to announce its results on 16 January and last night said it believes it will report its first profitable quarter in 12 months on the back of better than expected sales.
Sales for the three months rose to $8bn, beating the original prediction of $7.6bn. The attributed the figures to increased demand from Christmas shoppers and the processing of the final shipment of business orders delayed in the wake of the 11 September terrorist attacks.
The company declined to offer a figure for the likely profit.
Compaq said its PC, server and storage units experienced the biggest growth following a swell in European demand.
However, it is unclear if the news will convince HP shareholders to sanction the much-maligned merger between the two companies.
Compaq shares rose 29 cents to close at $11.68 following last night's news. The share price surged again in after hours trading to $11.93.
Analysts at Lehman Brothers have recommended Compaq as a 'strong buy' and predicted the share price could rise to as much as $13 within a year.
.Net, Crystal Reports, SQL, CMS - My client, a well established not-for-profit organisation is urgently recruiting a developer with strong database ...
Exciting opportunity for Night Work management at our new Store in Bath! This is a full-time (37.5 hours per week) Night Work management ...
Set attainable standards and work to raise the bar each quarter. Define processes and establish operational support capabilities for central ...
Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.
Stories from the web...
Copyright © 2008 CBS Interactive Limited. All rights reserved. Top of page
Seb Janacek Magic Mouse - Apple's best ever? Minority Report: After years of disappointment, one Mac lover has hope
Bethan Jones Can I use a netbook as my everyday work machine? Why silicon.com's sub editor is ditching her laptop for a sprightly mini-laptop