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HP profit sinks
Computer maker sees bottom line fall by more than half as sales slip
May 16, 2001: 4:21 p.m. ET

NEW YORK (CNNfn) - Hewlett-Packard on Wednesday said its <font color="#FF0000">net income dropped sharply from the same period last year on sales that fell 3 percent from the same quarter a year earlier</font>.

After the close of trading, HP said its net income was $319 million, or 15 cents per share, during the quarter ended April 30. <font color="#FF0000">That's down from $935 million, or 41 cents per share during the same period last year.</font>

Excluding extraordinary charges, HP said its pro forma earnings amounted to <font color="#FF0000">18 cents per share</font>, which was <font color="#FF0000">above</font> the range of <font color="#FF0000">13 cents to 17 cents per share </font>executives said they were aiming for when they warned of a profit shortfall on April 18.

The company logged revenue of $11.6 billion, compared with $12 billion during the same period last year.

[b] Quelle: http://www.cnnfn.com[/b]

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