The U.S. computer group Hewlett-Packard announced Friday that it was revising downward its first quarter results because of the legal costs of its subsidiary Electronic Data Systems (EDS).
The judicial authorities have in fact ordered DHS to pay 300 million euros – in all – group British Sky Broadcasting and British Sky suscribers Services (BSkyB), which had continued since 2000 to a dispute concerning a development project to system update management (CRM customer relationship) second by the first …went wrong.
After delays and budget overruns (48 million pounds sterling at the base), BSkyB had then resolved to complete the project alone.
On 1 March, in addition to a sentence of 230 million euros imposed in January, HP has been added to interim payment of 77 million euros.
96 to 93 cents per share
Thus, net income amounted to 2.25 billion dollars instead of 2.32 billion announced in February. The world of computers was then revised upwards its estimates of revenues and earnings for fiscal 2010 lagged cash advance .Net earnings per share is reduced to 93 cents, against 96 cents previously.
Last November, Hewlett-Packard unveiled a decline in net income of 8% annually to 7.7 billion, although the last quarter it was up 14% yoy to 2.4 billion dollars. At this time, Dell has introduced quarterly profit falls by 54% and a revenue and earnings per share below expectations.
In May 2008, HP had offered the number two global services company EDS for $ 13.9 billion.
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