Palo Alto-based Hewlett Packard Co. reported net earnings of $416 million on sales of $22.9 billion for the quarter ended Oct. 31. Sales were up 7 percent from the year-ago quarter though net earnings at that time were $1.09 billion.
In the recently ended quarter, the company took a $1.1 billion charge for restructuring. HP is in the middle of cutting 15,000 jobs, according to published reports.
HP’s Imaging and Printing Group, which has operations in Rancho Bernardo, had quarterly operating profit of $896 million on revenue of $6.8 billion.
For the entire fiscal year, the Imaging and Printing Group reported revenue of $25.2 billion, up from $24.2 billion in fiscal 2004.
Annual revenue from printing supplies alone , not hardware but supplies , was $14 billion in fiscal 2005.
Revenue for all divisions of the company, for the full year, was $86.6 billion.
, Brad Graves