HP Reports Fiscal 05 First Quarter Results

HP Reports Fiscal 2015 First Quarter Results

First quarter net revenue of $26.8 billion, down 5% from the prior-year period and

down 2% on a constant currency basis

First quarter non-GAAP diluted net earnings per share of $0.92, up 2% from the prioryear

period and within the previously provided outlook of $0.89 to $0.93 per share

First quarter GAAP diluted net earnings per share of $0.73, down 1% from the prioryear

period and within the previously provided outlook of $0.72 to $0.76 per share

First quarter cash flow from operations of $744 million, down 75% from the prior-year

period

Returned $1.9 billion to shareholders in the form of share repurchases and dividends in

the first quarter

The complete news release is available at: http://h30261.www3.hp.com/news-and-events/news-library/2015/24-02-2015.aspx

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, effective tax rates, net earnings, net earnings per share,

cash flows, benefit plan funding, share repurchases, currency exchange rates or other

financial items; any projections of the amount, timing or impact of cost savings or

restructuring charges; any statements of the plans, strategies and objectives of

management for future operations, including the previously announced separation

transaction and the future performances of the post-separation companies if the

separation is completed, as well as the execution of restructuring plans and any resulting

cost savings or revenue or profitability improvements; any statements concerning the

expected development, performance, market share or competitive performance 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 or assumptions underlying any

of the foregoing.

Risks, uncertainties and assumptions include the need to address the many challenges

facing HP's businesses; the competitive pressures faced by HP's businesses; risks

associated with executing HP's strategy, including the planned separation transaction; the

impact of macroeconomic and geopolitical trends and events; the need to manage thirdparty

suppliers and the distribution of HP's products and the delivery of HP's services

effectively; the protection of HP's intellectual property assets, including intellectual

property licensed from third parties; risks associated with HP's international operations;

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 hiring and retention of key employees; integration and other

risks associated with business combination and investment transactions; the execution,

timing and results of the separation transaction or restructuring plans, including

estimates and assumptions related to the cost (including any possible disruption of HP's

business) and the anticipated benefits of implementing the separation transaction and

restructuring plans; 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, 2014, and HP's other filings with the Securities and Exchange

Commission.

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 reasonable, these amounts could differ materially from reported

amounts in HP's Quarterly Report on Form 10-Q for the fiscal quarter ended January 31,

2015. HP assumes no obligation and does not intend to update these forward-looking

statements.

LINK:	http://www8.hp.com/us/en/hp-news/press-release.html?wireId=1923229&pag...
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