Monday, December 16, 2013

Finally! My updated spreadsheet with year-end (Q4FY13) printer results from HP

I am a bit delayed in posting these end-of-year (Q4FY13) printer results from HP.

The company was clearly feeling good about things when they announced earnings and hosted a conference call in late November, and this included their printing unit, with numerous mentions of the hard-copy segment. Several highlights (first from CEO Meg Whitman, followed by CFO Cathie Lesjak) include:

    Our Printing business delivered an excellent quarter with continued strong profitability. We outperformed the market for the second successive quarter, gaining 4 points of total unit market share over the prior year. Revenue for the quarter was down 1%, but we saw growth of 1% in constant currency. For the second consecutive quarter, we grew unit placement, which was up 6% over the prior year, driven by strength in laser volume and our SMB home business. Our managed print services business also had a good quarter, with double-digit TCV growth driven by our partner program. - Meg Whitman

    Turning to the Business units. We're very pleased with the fourth-quarter performance in Printing. The initiatives we've begun executing to increase printing relevance, drive high-usage units, and improve unit shares are paying off. Q4 revenue of $6 billion was down 1% year over year, but up 1% in constant currency, as hardware unit growth offset declines in supplies. Total unit shipments grew 6% over last year, and this was the second quarter in a row of year-over-year unit growth, and as Meg said, we continue to gain share. We are seeing great results with Ink in the Office, which helped drive Q4 SMB hardware sales up double digits, and Ink Advantage had strong performance across all regions. - Cathie Lesjak

My Google Drive spreadsheet has been updated. 

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