SAN FRANCISCO (01/25/2000) - Compaq Computer Corp. today reported a profit of 19 cents per share for the company's fourth fiscal quarter, down significantly from a year ago, but better than analysts had expected.
Net income for the period, which ended Dec. 31, 1999, was US$332 million, down from $758 million recorded in the fourth quarter of 1998, when Compaq reported a profit of 43 cents per share.
Revenue for the fourth quarter of fiscal 1999 was $10.5 billion, down 4 percent from a year ago, but an improvement of 14 percent sequentially, company officials said in a statement issued today.
"During the second half of this year, we took aggressive action to return Compaq to profitable growth, and fourth quarter results reflect our initial success where it matters most -- in the marketplace," said Michael Capellas, Compaq's president and chief executive officer in the statement.
Compaq, in Houston, can be reached at +1-281-370-0670, or at http://www.compaq.com/.
More details to come.