HP CFO “Very Confident” on Current Quarter Guidance
Hewlett-Packard (HPQ) CFO Cathie Lesjak today told investors at the Bank of America securities conference in San Francisco that the company remains “very confident” it can reach its current guidance for the fiscal fourth quarter ending November. HP sees profits for the quarter of 95-97 cents a share and revenue of $30.2 billion and $30.3 billion, Reuters notes.
Lesjak also said the company is confident it can meet its operating margin targets of 5-5.5 percent for fiscal 2009.
She said the impact on the company from the recently strengthened dollar to be “marginal at best.” She also said said that while HP will continue to buy back shares, it will do so at a slower rate in the next 12 to 15 months.
Yesterday, HP announced plans to cut 24,600 jobs following the completion of its acquisition of EDS.
