Compaq beat Wall Street estimates for its fourth fiscal quarter despite losing PC server market share last year.
According to an IDC report issued yesterday (see VNU Newswire, 26 January 1999), the hardware supplier lost four points of market share to Dell over the course of last year, although it still remained in pole position with 29 per cent of the sector.
Today, however, the company saw sales increase 48 per cent to $10.9 billion for its fourth quarter ending 31 December, 1998. Net profits were $758 million compared to $667 million a year earlier.
Earl Mason, Compaq?s chief financial officer, said last year?s merger with Digital Equipment had contributed to the positive results.
"Achieving our goal of earnings accretion for the combined companies of Digital and Compaq in the fourth quarter is a significant achievement and reflects tremendous execution of our integration plans to date," he claimed.
Eckhard Pfeiffer, Compaq?s chief executive, added: "With the majority of the Digital integration now successfully behind us, we enter the new year ready to completely unfold and deploy the strategy we have been working towards for the past year and a half."
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