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Displaying articles for: November 2011

Video: CEO Meg Whitman discusses HP’s financial results, strategy on CNBC

HP CEO Meg Whitman discussed yesterday’s earnings announcement with David Faber in a live interview on CNBC today.


Adding detail on her strategy, Meg said, “we’re going to go to market as one HP.”


“There’s tremendous synergy between [each of HP’s business divisions] and customers want to buy from one HP,” she continued.  By simplifying both the customer experience and internal processes, HP should be better positioned to succeed in 2012 and beyond, she said.


Meg also shared an insight that gives a sense of HP’s global scale and reach.  Over decades, HP ink sales have been highly correlated to economic indicators like GDP and unemployment, making them an accurate predictor of economic conditions around the world.


Watch the complete 9 minute interview below or on


Labels: CEO| meg whitman

HP Reports Fourth Quarter and Full Year 2011 Results

HP today announced financial results for its fourth quarter and full fiscal year ended Oct. 31, 2011:


- Fiscal 2011 non-GAAP net revenue of $127.4 billion, non-GAAP diluted earnings per share of $4.88 and free cash flow of $9.1 billion grew 1%, 7% and 8%, respectively, over the prior year

- Fourth quarter non-GAAP net revenue of $32.3 billion, non-GAAP diluted earnings per share of $1.17 and free cash flow of $1.2 billion were down 3%, 12% and 43%, respectively, from the prior-year quarter


Quote from CEO Meg Whitman:

“HP has a great opportunity to build on our strong hardware, software, and services franchises with leading market positions, customer relationships, and intellectual property. We need to get back to the business fundamentals in fiscal 2012, including making prudent investments in the business and driving more consistent execution.”


Quote from CFO Cathie Lesjak:

“While FY11 proved to be a challenging year, we grew non-GAAP EPS 7% and generated $12.6 billion in cash flow from operations.”


For more information, read the rest of today’s announcement at the HP Newsroom or follow @hpnews on Twitter.


We will update this post later today with additional information as it comes available.


Use of non-GAAP financial information

To supplement HP’s consolidated condensed financial statements presented on a GAAP basis, HP provides non-GAAP net revenue, non-GAAP operating profit, non-GAAP operating margin, non-GAAP net earnings, non-GAAP diluted earnings per share, gross cash and free cash flow. HP also provides forecasts of non-GAAP diluted earnings per share. A reconciliation of the adjustments to GAAP results for this quarter and prior periods is included in the tables below. In addition, an explanation of the ways in which HP management uses these non-GAAP measures to evaluate its business, the substance behind HP management’s decision to use these non-GAAP measures, the material limitations associated with the use of these non-GAAP measures, the manner in which HP management compensates for those limitations, and the substantive reasons why HP management believes that these non-GAAP measures provide useful information to investors is included under “Use of Non-GAAP Financial Measures” after the tables below. This additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for revenue, operating profit, operating margin, net earnings, diluted earnings per share, cash and cash equivalents or cash flow from operations prepared in accordance with GAAP.


Forward-looking statements

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of HP may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any projections of revenue, margins, expenses, earnings, tax provisions, cash flows, benefit obligations, share repurchases, currency exchange rates, the impact of acquisitions or other financial items; any statements of the plans, strategies and objectives of management for future operations, including the execution of cost reduction programs and restructuring and integration plans; any statements concerning the expected development, performance or market share relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the impact of macroeconomic and geopolitical trends and events; the competitive pressures faced by HP’s businesses; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its suppliers, customers and partners; the protection of HP’s intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; assumptions related to pension and other post-retirement costs; expectations and assumptions relating to the execution and timing of restructuring and integration plans; the possibility that the expected benefits of business combination transactions may not materialize as expected; the resolution of pending investigations, claims and disputes; and other risks that are described in HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2010 and HP’s other filings with the Securities and Exchange Commission, including HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2011. As in prior periods, the financial information set forth in this release, including tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be meaningful, these amounts could differ materially from actual reported amounts in HP’s Form 10-K for the fiscal year ended October 31, 2011. In particular, determining HP’s actual tax balances and provisions as of October 31, 2011 requires extensive internal and external review of tax data (including consolidating and reviewing the tax provisions of numerous domestic and foreign entities), which is being completed in the ordinary course of preparing HP’s Form 10-K. HP assumes no obligation and does not intend to update these forward-looking statements.

Labels: Finance

HP Q4 2011 earnings report: quick reference guide

HP is scheduled to report its fourth quarter earnings results this Monday, November 21, 2011, after the market closes.  We will post links to the news release, financials, slide presentations, and other information as it becomes available here at Data Central and on Twitter/Stocktwits at @hpnews.


You’ll also be able to follow the news on our investor relations website, the newsroom, and Facebook.


In the meantime, catch up on HP news highlights from the past few weeks:


- HP announces a new server based on ARM's chip design. The server is built for large data centers running applications like web services or social media and can reduce power consumption by as much as 89% (sources: The New York Times, HP news release)


- An HP pilot shows how customer behavior can be predicted by merging social media and company data (sources: HP news release, Information Week, The New York Times)


- Wired takes a closer look at the HP “public” cloud service and its use of VMware’s CloudFoundry operating system.


- HP updates laptop lines (“Quick Look: Pavilion dm4 Goes Beats Edition,” “Hands On: New Envy 15, 17 – And A New Look,” “Quick Look: The HP Folio13”) and even more products go 3D (“TouchSmart 620 3D: Touchscreens Go 3D,” “Hands On: HP 2311gt gives you 3D On a Budget,” “Stream 1080p, 3D Content - wirelessly!)


- “Behind the locked doors of an unmarked warehouse in a Silicon Valley industrial park, a small team of Hewlett-Packard engineers have spent the past year shooting movies, playing interactive video games on an 11-foot screen and studying the latest fashions from a high-end New York dressmaker -- all in 3-D.” – San Jose Mercury News


- "HP Appoints Ralph Whitworth to Board of Directors"

HP Joins Public-Private Alliance for Responsible Minerals Trade

On November 15th, at an event held at the U.S. Institute of Peace in Washington, DC, HP formally joined the US State Department’s Public-Private Alliance for Responsible Minerals Trade (PPA), a joint initiative between the U.S. government, private sector companies and trade associations from a range of industry sectors, non-governmental organizations, and the International Conference on the Great Lakes Region (ICGLR), to support the development of responsible, transparent, and validated mineral trade to enable the sourcing of conflict free minerals from the Democratic Republic of Congo (DRC).

Government officials including Under Secretary of State for Economic Affairs Robert Hormats, Under Secretary for Democracy and Global Affairs Maria Otero, USAID Senior Deputy Assistant Administrator for Africa Sharon Cromer attended the event along with foreign diplomats from Belgium, Burundi, DRC, France, Germany, Japan, Kenya, Russia, Rwanda, Uganda and Tanzania. In addition to HP, representatives from leading Fortune 500 companies and NGOs were present including AMD, The Responsible Sourcing Network, Pact, RESOLVE, and the Enough! Project.  

The PPA is part of ongoing U.S. efforts to work with the DRC and other governments in the region to break the linkages between the illicit minerals trade and ongoing violence and human rights abuses.  The PPA seeks to leverage resources and promote harmonization of mine certification and traceability initiatives in the Great Lakes region to ensure that the illicit trade in minerals does not benefit rebel groups or abusive army units.

The PPA will focus on three key areas:

  • Help grow existing programs and systems that will allow businesses to source minerals from mines that have been audited and certified as ‘conflict-free.’  
  • Provide a platform for coordination and dialogue amongst the government, industry and civil society actors seeking to support conflict-free minerals sourcing in the DRC and GLR.
  • Support a website that will act as a resource for companies seeking the information necessary for them to source minerals in the DRC while remaining compliant with United States law.

HP’s participation in the Public-Private Alliance, as well as the “Solutions for Hope Project” and the ITRI Tin Supply Chain Initiative (iTSCi) are indicative of our belief that all relevant stakeholders – industry sectors that use these minerals, mineral refiners/processors, governments and NGOs – must become actively involved in order to create a viable certification mechanism for the minerals trade. We have also established internal policies that require members of our supply chain to conduct their worldwide operations in a socially and environmentally responsible manner.





HP Raises the Bar by Recycling 2 Billion Pounds of Electronics and Supplies

Imagine 36 Statue of Liberty monuments, side by side. That’s the equivalent weight—2 billion pounds—of electronic products and supplies HP has recycled since 1987.(1) We’re celebrating reaching this milestone in honor of tomorrow’s America Recycles Day, a campaign that encourages consumers and corporations to reduce their waste.


“We’re raising the bar for recycling in the IT industry,” said Engelina Jaspers, HP’s vice president of environmental sustainability. “HP has decades of leadership in environmental sustainability, and a strong track record of responsibly managing electronic hardware and printing supplies at their end of life.”


Part of our commitment means making it easy for everyone, from consumers to large companies, to recycle. Our HP Planet Partners program operates in 58 countries and territories. This helps HP recycle more used IT equipment than any other company.(2) In fact, HP recycled six times more IT equipment than IBM and over 75% more than Dell in 2010.(3) And in 2009, HP recycled more IT equipment in two months than Apple did in the entire year.


We’re also pioneering the use of a “closed loop” cartridge recycling process which incorporates recycled cartridge materials back into new Original HP ink and LaserJet toner cartridges. In 2010, HP manufactured nearly 311 million ink and toner cartridges that contained recycled content. The 19.6 million pounds of recycled plastic we used prevented 490 tractor-trailer loads of plastic from ending up in landfills.(4)


You can play a part as well. Help celebrate America Recycles Day by recycling old equipment with HP at and get a check or gift card in return, or donate the value of your buyback to charity. For cash back when trading in old equipment for a new HP product, visit Find more consumer and business return and recycling options at


Products traded in go into our reuse operations, which complements our recycling programs and keeps even more used equipment out of landfills. Beyond recycling, HP has recovered an additional 410 million pounds of computer and printing hardware to date for reuse and remarketing. And in the last six years, HP has put approximately 20 million used IT products back into use through these efforts.


1 Calculation based on weight as reported at

2 Based on publicly reported numbers.

3 Dell reports equipment recycled and equipment reused as a combined figure. When including reused equipment, HP recovered (recycled and reused) 336 million pounds in 2011—125% more than Dell's 150 million pounds.

4 As of April 2011. Based on a nominal payload of 40,000 pounds.



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