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SAN FRANCISCO – Hewlett-Packard Co.’s third-quarter revenues were $28 billion, up 10% year-over-year, according to Deutsche Bank Equity Research.

According to other published reports, H-P's profits jumped 14% in the quarter, to $2.03 billion.

Strong PC results offset weakness in printers, says DB.

DB expects fourth-quarter revenues of $30.2 to 30.3 billion for H-P.

The research firm has adjusted full-year 2008 estimates to $115 billion.

SAN JOSE, CA – North America-based manufacturers of semiconductor equipment posted $905 million in orders in July and a book-to-bill ratio of 0.83, says SEMI.

YAVNE, ISRAEL – Software provider Valor Computerized Systems Ltd. reported second-quarter revenues of $10.7 million, up 2% year-over-year.

Net profit was $600,000, up 6% compared to the second quarter of 2007.

Revenues in the first half of 2008 were $21.4 million, up 2% compared to the same period last year.

First-half net profit was $2.1 million, up 43% year-over-year.

“Q2 was a good quarter for Valor, despite the slowdown in global economy and the weakness of the US$,” said Valor’s CEO Dan Hoz. “During the quarter we established three new OEM agreements with major machine vendors, who will be selling our products together with their machines.”

Valor has recently engaged in a process of repurchasing its own shares up to a total of $3 million, the company said.

SIOUX FALLS, SD – EMS provider Raven Industries Inc. today announced second-quarter sales of $69.3 million, 24% year-over-year. The largest contributor to the increase was the flow controls division, the firm said.

Net income rose 17% to $6.8 million compared to the second quarter last year.

Year-to-date, sales were $144.4 million, up 27% compared to the first half of 2007. Net income reached $17.7 million, up 23% compared to the same six months last year.

Electronic Systems Division second-quarter sales were $14.7 million, down 12% from the year ago period. Operating income was $1.2 million, down 51%. Year-to-date, sales for the division were down 10% year-over-year to $28 million, while operating income was $1.9 million, down 62%.

The firm expects weaker third-quarter electronic systems sales compared to last year’s strong performance.

Flow Controls Division second-quarter sales grew 93% from a year ago, reaching $22.7 million. Operating income for the three months jumped 172%, to $7.1 million. In the most recent six months, revenues expanded 82%, reaching $57.6 million. Operating income reached $20.6 million, up 112% compared to last year's first half.