China PCB News: HP’s net profit greatly decreased and it seeks to recover Chinese market. Offered by
China PCB manufacturer.
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HP announced its financial report of the fourth quarter and the financial report of 2011 on November 22. Influenced by strategic adjustment, personnel changes of senior managers and its $11 billion acquisition of the British software company Autonomy, the net profit of HP in the fourth quarter reached only $239 million, decreasing by 91% in comparison to the $2.538 billion net profit of the same period last year.
Considering the performance of HP in the fiscal year of 2011, HP achieved the net revenue of $127.2 billion, increasing by only 1% over the same period of last year. The net profit of HP in 2011 reached $7.074 billion, dropping by 19% compared with $8.761 billion in 2010. The earnings per share (EPS) of HP reached only $3.32 in 2011, while HP’s EPS in 2010 was $3.69.
After the release of its financial report, CEO of HP said that the company needs to improve its executive capacity, enhance its service awareness and better manage channel inventory of imaging and printing groups so as to achieve the recovery in the Chinese market. In addition, HP’s CEO pointed out that HP will not have more large-scale acquisitions, but it may have certain small-scale acquisitions in the software industry. He said the amount will be less than $500 million.
