HP julkisti tilivuoden 2013 toisen neljänneksen tuloksensa

• Toisen neljänneksen osakekohtainen tulos (non-GAAP) 0,87 dollaria, eli 11 % vähemmän kuin vuosi sitten, ylitti aiemman esitetyn ennusteen (0,80–0,82 dollaria)
• Toisen neljänneksen osakekohtainen tulos (GAAP) 0,55 dollaria, eli 31 % vähemmän kuin vuosi sitten, ylitti aiemmin esitetyn ennusteen (0,38–0,40 dollaria)
• Toisen neljänneksen liikevaihto 27,6 miljardia dollaria, 10 % vuoden takaista tilannetta vähemmän, valuutan arvon muutokset huomioiden 9 % vähemmän
• Operatiivisen toiminnan kassavirta 3,6 miljardia dollaria, eli 44 % viimevuotista enemmän
• 1,1 miljardia dollaria palautettu osakkeenomistajille osinkojen ja osakkeiden takaisinostojen muodossa
• Nettovelkatilanne parani 1,8 miljardilla dollarilla ylittäen viidennellä perättäisellä neljänneksellä miljardin dollarin parannuksen rajan
• Yhtiön kantaosakkeista neljänneksittäin maksettava säännöllinen osinko on 14,52 senttiä

HP:n tilivuoden 2013 toisen neljänneksen tulosluvut:

Lisätietoja HP:n non-GAAP-tuloslukujen käytöstä on tiedotteen lopussa.

HP julkisti myöhään eilen illalla Suomen aikaa taloudelliset lukunsa 30.4.2013 päättyneeltä tilivuoden 2013 toiselta neljännekseltä. Toisen neljänneksen osakekohtainen tulos oli 0,55 dollaria, eli vähemmän kuin vastaavalla ajanjaksolla vuosi sitten saavutettu 0,80 dollaria ja enemmän kuin aiemmin annettu ennuste 0,38–0,40 dollaria. Toisen neljänneksen osakekohtainen tulos (non-GAAP) oli 0,87 dollaria, eli vähemmän kuin vuoden takaisessa tilanteessa saavutettu 0,98 dollaria ja enemmän kuin aiemmin annettu ennuste 0,80–0,82 dollaria. Toisen neljänneksen non-GAAP-tuloslukuihin ei sisälly verojen jälkeen 621 miljoonan dollarin, eli osakekohtaisesti laskettuna 0,32 dollarin suuruisia kuluja, jotka liittyvät toiminnan uudelleenorganisoinnin kustannuksiin, ostetun aineettoman pääoman kuolettamiseen sekä yritysostoihin liittyviin kustannuksiin.

Tilivuoden toisen neljänneksen liikevaihto oli 27,6 miljardia dollaria eli 10 % viimevuotista pienempi, ja valuutan arvon muutokset huomioiden 9 % vuoden takaista tilannetta pienempi.

”Osakekohtainen tuloksemme ylitti aikaisemmin antamamme non-GAAP-ennusteen yläpään 0,05 dollarilla per osake. Tämän saavutuksen mahdollistivat odotettua parempi tulos ulkoistus- ja konsultointipalveluista sekä tulostustoiminnasta, nopeasti realisoituneet uudelleenjärjestelysäästöt sekä positiivinen kehitys operatiivisessa toiminnassa”, sanoi HP:n pääjohtaja ja hallituksen puheenjohtaja Meg Whitman.

Tilivuoden kolmannella neljänneksellä osakekohtaisen tuloksen odotetaan asettuvan 0,56–0,59 dollarin välille. Koko tilivuoden 2013 osakekohtaisen tuloksen odotetaan asettuvan 2,50–2,60 dollarin välille.

HP:n henkilökohtaisten tietojärjestelmien liikevaihto aleni viime vuodesta 20 %. Tulostusratkaisujen liikevaihto pieneni vuoden takaiseen tilanteeseen verrattuna yhden prosentin. Yritysjärjestelmät-yksikön liikevaihto pieneni viime vuoteen verrattuna 10 %. Ulkoistus- ja konsultointipalvelut -yksikön liikevaihto oli edelliseen vuoteen verrattuna 8 % pienempi. Ohjelmistoratkaisut-yksikön liikevaihto pieneni vuoden takaisesta tilanteesta 3 %. Rahoituspalvelut-yksikön liikevaihto pieneni vuoden takaisesta 9 %.

Tulostiedote on kokonaisuudessaan englanninkielisenä alla sekä liitteineen osoitteessa http://h30261.www3.hp.com/phoenix.zhtml?c=71087&p=quarterlyEarnings.

Tulosjulkistuksen tallennettu webcast on saatavilla osoitteessa www.hp.com/investor/2013Q2webcast.

Mediayhteydet: Taina Kaitala, puh. 050 372 3406, etunimi.sukunimi@hp.com
Kuvatiedustelut: hp@pohjoisranta.fi

HP
Hewlett-Packard (HP) luo ja suunnittelee teknologioita, jotka hyödyttävät ihmisten, yritysten, julkishallinnon ja yhteiskunnan elämää ja toimintaa. Maailman suurimpana teknologiayrityksenä HP pystyy tarjoamaan kokonaisuuden, joka kattaa niin tulostuksen ja henkilökohtaisen tietojenkäsittelyn kuin ohjelmistot, palvelut ja it-infrastruktuurin järjestelmätkin. Lisätietoja HP:stä (NYSE: HPQ) löytyy osoitteista www.hp.com ja www.hp.fi.

Tiedotteessa mainitut tulosluvut ovat Yhdysvaltain yleisten kirjanpitokäytäntöjen (GAAP) mukaisia lukuja, ellei toisin ole mainittu. HP ilmoittaa tuloksestaan myös GAAP-käytännöistä poiketen tarkistetut luvut (non-GAAP), jotka voivat joissakin tapauksissa antaa tarkemman kuvan HP:n tuloksesta ja helpottaa vertailua HP:n kilpailijoihin. Alkuperäinen englanninkielinen tulostiedote sisältää sekä tarkistetut tulosluvut että tarkemman selvityksen niiden muodostumisesta ja käytöstä.

HP Reports Second Quarter 2013 Results

• Second quarter non-GAAP diluted earnings per share of $0.87, down 11% from the prior year, above previously provided outlook of $0.80 to $0.82 per share
• Second quarter GAAP diluted earnings per share of $0.55, down 31% from the prior year, above previously provided outlook of $0.38 to $0.40 per share
• Second quarter net revenue of $27.6 billion, down 10% from the prior year and down 9% when adjusted for the effects of currency
• Cash flow from operations of $3.6 billion, up 44% from the prior year
• Returned $1.1 billion in cash to shareholders in the form of dividends and share repurchases
• Improved operating company net debt position by $1.8 billion, the fifth consecutive quarterly reduction of over $1 billion
• Declared a regular quarterly cash dividend of 14.52 cents per share on the company's common stock

HP second quarter fiscal 2013 performance

Information about HP’s use of non-GAAP financial information is provided under “Use of non-GAAP financial information” below.

PALO ALTO, Calif., May 22, 2013 — HP today announced financial results for its second fiscal quarter ended April 30, 2013. Second quarter GAAP diluted earnings per share (EPS) was $0.55, down from $0.80 in the prior-year period and above its previously provided outlook of $0.38 to $0.40 per share. Second quarter non-GAAP diluted EPS was $0.87, down from $0.98 in the prior-year period and above its previously provided outlook of $0.80 to $0.82 per share. Second quarter non-GAAP earnings information excludes after-tax costs of $621 million, or $0.32 per diluted share, related to restructuring charges, amortization of purchased intangible assets and acquisition-related charges.

For the second quarter, net revenue of $27.6 billion was down 10% year over year and down 9% when adjusted for the effects of currency.

“We beat the upper end of our non-GAAP diluted EPS outlook for the quarter by $0.05 per share, driven by better than expected performance in Enterprise Services and Printing, coupled with the accelerated capture of restructuring savings and improvement in our operations,” said Meg Whitman, HP president and chief executive officer.

Outlook
For the third quarter of fiscal 2013, HP estimates non-GAAP diluted EPS to be in the range of $0.84 to $0.87 and GAAP diluted EPS to be in the range of $0.56 to $0.59. Third quarter fiscal 2013 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $0.28 per share, related primarily to the amortization of purchased intangible assets, restructuring charges and acquisition-related charges.

For the full year fiscal 2013, HP estimates non-GAAP diluted EPS to be in the range of $3.50 to $3.60 and GAAP diluted EPS to be in the range of $2.50 to $2.60, in line with HP's previously communicated outlook. Full year fiscal 2013 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $1.00 per share, related primarily to the amortization of purchased intangible assets, restructuring charges and acquisition-related charges.

“I am encouraged by our performance in the second quarter, and I feel good about the rest of the year,” added Whitman. “As I have said many times before, this is a multi-year journey. We have a long way to go, but we are on track to deliver on our fiscal 2013 non-GAAP diluted earnings per share outlook.”

Asset Management
HP generated $3.6 billion in cash flow from operations in the second quarter, up 44% from the prior-year period. Inventory ended the quarter at $6.0 billion, down 2 days year over year to 26 days. Accounts receivable of $14.6 billion, down 1 day year over year to 48 days. Accounts payable ended the quarter at $12.3 billion, up 4 days year over year to 53 days. HP's dividend payment of $0.132 per share in the second quarter resulted in cash usage of $283 million. HP also utilized $797 million of cash during the quarter to repurchase approximately 36.3 million shares of common stock in the open market. HP exited the quarter with $13.6 billion in gross cash.

“After returning more than a billion dollars to shareholders through share repurchases and dividends in the quarter, we improved our operating company net debt position for the fifth successive quarter,” said Whitman. “By the end of fiscal 2013, we expect our operating company net debt to be below pre-Autonomy levels and approaching our goal of approximately zero.”

Declaration of Dividend
HP also today announced that the HP board of directors has declared a regular cash dividend of 14.52 cents per share on the company's common stock, which, as previously announced, reflects a 10% increase in amount compared to the previous quarterly dividend amount. The dividend, the third in HP's fiscal year 2013, is payable on July 3, 2013, to stockholders of record as of the close of business on June 12, 2013.

Second Quarter Fiscal 2013 Segment Results

• Personal Systems revenue was down 20% year over year with a 3.2% operating margin. Commercial revenue decreased 14%, and Consumer revenue declined 29%. Total units were down 21% with Desktops units down 18% and Notebooks units down 24%.
• Printing revenue declined 1% year over year with a strong operating margin of 15.8%. Total hardware units were down 11% year over year. Commercial hardware units were down 5% year over year, and Consumer hardware units were down 13% year over year.
• Enterprise Group revenue declined 10% year over year with a 15.9% operating margin. Networking revenue was up 1%, Industry Standard Servers revenue was down 12%, Business Critical Systems revenue was down 37%, Storage revenue was down 13% and Technology Services revenue was down 3% year over year.
• Enterprise Services revenue declined 8% year over year with a 2.6% operating margin. Application and Business Services revenue was down 10% year over year, and IT Outsourcing revenue declined 6% year over year.
• Software revenue was down 3% year over year with a 19.1% operating margin. Support revenue was up 12% while license revenue was down 23% and services revenue was down 5% year over year.
• HP Financial Services revenue was down 9% year over year with a 3% decrease in net portfolio assets and a 24% decrease in financing volume. The business delivered an operating margin of 11.0%.

More information on HP's earnings, including additional financial analysis and an earnings overview presentation, is available on HP's Investor Relations website at www.hp.com/investor/home.

HP's Q2 FY13 earnings conference call is accessible via an audio webcast at www.hp.com/investor/2013Q2webcast.

About HP
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP (NYSE: HPQ) is available at http://www.hp.com.

Use of non-GAAP financial information
To supplement HP's consolidated condensed financial statements presented on a GAAP basis, HP provides non-GAAP operating profit, non-GAAP operating margin, non-GAAP net earnings, non-GAAP diluted earnings per share, gross cash, free cash flow, net debt and operating company net debt. 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 or elsewhere in the materials accompanying this news release. 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 operating profit, operating margin, net earnings, diluted earnings per share, cash and cash equivalents, cash flow from operations or total company debt 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, earnings per share, tax provisions, cash flows, benefit obligations, 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 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 of 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; the impact of macroeconomic and geopolitical trends and events; the need to manage third-party suppliers and the distribution of HP's products and 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 restructuring plans, including estimates and assumptions related to the cost and the anticipated benefits of implementing those 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, 2012 and HP's other filings with theSecurities and Exchange Commission, including HP's Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2013. 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-Q for the fiscal quarter ended April 30, 2013. In particular, determining HP's actual tax balances and provisions as of April 30, 2013 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-Q. HP assumes no obligation and does not intend to update these forward-looking statements.

Avainsanat: