PALO ALTO, CA -- H-P reported fourth-quarter net
income of $1.7 billion, up fourfold from last year, on a sales jump of 7% to $24.6 billion. Demand was strong for PCs, printers, the company said.
The news was tempered by revelations that the Securities and Exchange Commission has launched a formal inquiry into the company's "pretexting" investigation, in which members of the H-P board reportedly authorized the gathering of information on other board members and company employees. It was later revealed that illegal means were used to gain the information.
Excluding one-time items, H-P said it would have earned $1.9 billion. Last year's
results included $1.57 billion in restructuring charges.
SAN JOSE – Demand for semiconductor devices will continue unabated through 2009, Semiconductor Industry Association said yesterday in a Webcast annoucning its annual forecast.
A strong wave of consumer demand for electronic products will push sales to $321 billion in 2009, a compound annual growth rate of 9%. Total worldwide sales were $227.5 billion last year.