Investors make it a good Friday the 13th for HP – The Mercury News

Top of the Order:  

King of the Hill: Forget superstitions about bad luck. For HP, Friday the 13th was about as lucky a day as the PC and printing company could ask for.

HP was the star of the day, as its shares climbed 6.4 percent, to close at $21.71, after company officials told Wall Street analysts the kinds of things that make them feel like Christmas came early this year. Late Thursday, HP held its annual meeting with securities analysts, and the highlight of the shindig was HP raising its earnings forecast for its 2018 fiscal year.

HP’s stock set a new 52-week high on Friday after delivering a strong profit forecast – Business Insider

Dion WeislerSoon to be HP Inc. CEO Dion WeislerBusiness Insider/Julie Bort
Investors snapped up shares of HP Inc. on Friday after the company indicated that it expects to have a buoyant and profitable 2018.

The stock was up as much as 7.8% and set a 52-week high of $22 a share in regular trading on Friday, and finished the session up 6.4%.  

The bump followed HP’s annual analyst meeting on Thursday, where the company delivered a strong profit forecast that topped Wall Street expectations.

HP said it expects to earn $1.69 to $1.79 per share in its fiscal 2018 year, above the $1.66 per share average earnings estimate according to the Wall Street Journal.

The company also estimated at least $3 billion in free cash flow for fiscal 2018 — 50% to 75% of which it intends to return to shareholders through dividends and share repurchases.

Roughly 27 million shares of HP traded hands on Friday, compared to the stock’s average trading volume of 9.5 million shares. 

HP is the consumer computer and printer company formed in 2015 after the larger company Hewlett-Packard split off from its enterprise division, now a separate company called HP Enterprise.   

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HP Pavilion 17-ab205nf, PC portable 17 pouces IPS GTX 1050 Quad promo 899€ – LaptopSpirit.fr

Hewlett-Packard sort dans l’hexagone un nouvel ordinateur portable polyvalent performant à écran IPS antireflet Full HD de 17 pouces qui s’affiche actuellement en vente flash pour 899 euros, l’HP Pavilion 17-ab205nf. Il embarque un processeur Quad Core i5 Kaby Lake, une bonne quantité de mémoire vive, une carte graphique dédiée NVIDIA Pascal GTX, un disque dur véloce de capacité importante ou encore un clavier chiclet rétro éclairé. Il offre une autonomie annoncée de 10 heures sous Windows 10.

Il arbore une apparence élégante et originale avec son design Couvercle argent naturel cadre de clavier bois charbon, bois linéaire motif à lignes de trames numériques (dixit la marque).

Il est possible de recharger sa batterie à 90% en 90 minutes.

Caractéristiques HP Pavilion 17-ab205nf

Dalle 17.3’’ Full HD IPS LED (1920×1080, antireflet/mate)
Processeur Intel Core i5-7300HQ Kaby Lake (2.5 GHz, 4 cœurs)
Mémoire vive installée (max) 8 Go (2 x 4 Go) DDR4-2400, 2 slots (occupés)
Espace de stockage 1 To à 7200 tr/min + 1 emplacement M.2 libre
Carte graphique NVIDIA Pascal GeForce GTX 1050 2 Go GDDR5 dédiés
Lecteur optique Graveur DVD
Système audio 2 haut-parleurs Bang&Olufsen
Webcam Oui, Wide Vision HD avec micro
Réseau Wi-Fi ac (2×2) + Ethernet Gigabit
Bluetooth Oui, Bluetooth 4.2
Lecteur de cartes Oui, SD/MMC
Sortie(s) vidéo HDMI
Lecteur d’empreintes digitales
Entrée(s) / Sortie(s) Combo Casque/Micro
ExpressCard
Firewire
USB 2 USB 3.0 + 1 USB 2.0
Système d’exploitation Windows 10 64 bits
Batterie Li-Ion 6 cellules 62 Whr
Autonomie annoncée 10 heures
Dimensions (mm) 416 x 279 x 29.9
Poids 2.85 Kg
Garantie 2 ans
Autre Clavier chiclet avec pavé numérique rétro-éclairé, touchpad multi-touch désactivable
Logiciels Applications HP, Dropbox

L’HP Pavilion 17-ab205nf s’adresse à ceux qui souhaitent acquérir un ordinateur portable de 17 pouces en vue d’un usage polyvalent.

Il bénéficie d’un écran IPS, offrant ainsi une colorimétrie plus fidèle que la moyenne ainsi que des angles de vision horizontaux et verticaux importants. Traité antireflet, l’écran assure une meilleure visibilité en environnement lumineux qu’une dalle brillante tout en se montrant plus reposant pour les yeux sur longue période. Full HD, l’écran se prête aussi très bien aux contenus Haute Définition, particulièrement aux vidéos de par son format 16/9ème.

Que ce soit avec la solution graphique Intel HD 630 logée au sein du processeur ou la carte dédiée GeForce GTX 1050, on peut évidemment regarder des photos et vidéos sur cet ordinateur qui profite de la technologie NVIDIA Optimus.

Optimus bascule en pratique automatiquement et en temps réel entre l’Intel HD 630 et la GeForce GTX 1050, et ce lorsque nécessaire. Optimus privilégie au maximum l’Intel HD 630 malgré ses prestations modestes car sa faible consommation énergétique favorise l’autonomie par rapport à la GeForce GTX 1050.

Plus puissante et gourmande que l’Intel HD 630, la GeForce GTX 1050 à architecture NVIDIA Pascal est en mesure de faire tourner de nombreux jeux du moment que l’on procède à des réglages sous les opus les plus exigeants en ressources graphiques afin d’obtenir une bonne fluidité.

Cet ordinateur délivre par ailleurs de solides performances générales y compris en multitâches avec son processeur Kaby Lake Quad Core i5-7300HQ et ses 8 Go de mémoire vive.
Au quotidien, de tels composants garantissent un fonctionnement bien plus rapide qu’un processeur Dual Core couplés à 4 Go DDR3/4, la différence étant particulièrement sensible dans les domaines exigeants en ressources CPU et RAM tirant partie de l’architecture multicœurs tels que le montage vidéo, le rendu 3D ou la retouche photo.

Architecturé autour d’un chipset Intel HM175, cet ordinateur propose en matière de stockage une capacité de stockage importante grâce à son disque dur de 1000 Go véloce avec sa vitesse de7200 tr/min contre 5400 tr/min en standard. A priori, un emplacement M.2 est libre pour ajouter un SSD afin de gagner en capacité et réactivité.

La connectique intégrée à ce portable est correcte, comprenant des modules sans-fil Bluetooth 4.2 et Wi-Fi ac pour communiquer et se connecter à distance, une sortie vidéo HDMI utile pour relier facilement ce PC à un moniteur ou une TV par exemple, des ports audio et Ethernet ainsi que 3 USB tous compatibles à la fois USB 2.0 et USB 3.0/.1, les USB 3.1 garantissant des transferts réalisés jusqu’à 10 fois plus vite qu’en USB 2.0 si l’on y connecte des périphériques USB 3.0/.1.

Enfin, les touches du clavier chiclet peuvent être rétro éclairées ce qui est très pratique pour les distinguer en ambiance peu lumineuse. En matière d’autonomie, on peut tabler sur environ 6h30 de fonctionnement sur batterie en surf sur Internet via le Wi-Fi, et plus bien sûr en utilisation légère.

Notre avis (octobre 2017) : L’HP Pavilion 17-ab205nf s’affiche actuellement en vente flash pour 899 euros chez Rue du Commerce et se positionne dans la moyenne de sa catégorie sur notre comparateur de prix.

La solidità del metallo rafforzerà la stampa 3D di Hp – ictBusiness

La stampa 3D sta per diventare un affare ancora più serio, danaroso e interessante per Hp: grazie al metallo. La possibilità di produrre manufatti metallici con una nuova tecnologia è la sfida che la ex Hewlett Packard si prepara a vincere già l’anno prossimo, secondo quanto annunciato durante un evento a Palo Alto da Stephen Nigro, presidente della divisione 3D Printing Business. A suo dire, l’azienda ha sviluppato “un nuovo approccio al 3D su metallo”, che rappresenta “un grande passo in avanti nella ambizioni di Hp” nell’ambito della stampa a tre dimensioni. Un mercato in cui la società californiana è entrata tardi, solo nel 2016, ma dove evidentemente intende recuperare terreno.

Rinunciando per il momento al mondo consumer, Hp si è focalizzata sui modelli destinati all’industria con il lancio della gamma Jet Fusion 3D. Quest’anno, inoltre, Hp ha inaugurato ulteriori luoghi messi a disposizione di partner e clienti per toccare con mano demo e testare casi di utilizzo, i 3D Printing Reference and Experience Center, portando a 25 il conteggio totale. In Europa, oltre a quelli già presenti in Francia, Germania, Paesi Bassi, Spagna e Regno Unito, altri centri apriranno i battenti nei prossimi mesi in Austria, Danimarca, Portogallo e Svezia.

Secondo le vaghe dichiarazioni di Nigro, con il “nuovo approccio” Hp sarà l’unico vendor a poter proporre dispositivi capaci di realizzare “componenti funzionali robusti e completamente colorati”. In precedenza l’azienda aveva già avuto modo di definire la stampa 3D come un’opportunità da 12 miliardi di dollari, da concretizzare però in uno scenario di lungo periodo. Ci vorrà tempo, insomma, prima che questa divisione generi più profitti che non spese in ricerca e sviluppo, ma i frutti potranno essere abbondanti se, con la stampa su metallo, si intercetteranno industrie danarose come quella automobilistica e quella aerospaziale.

 

 

Sul sito Web delle stampanti Jet Fusion 3D si promette anche che “in futuro Hp offrirà una gamma più ampia di termoplastiche, compresi PA 11, granuli di vetro PA12 e materiali con proprietà antifiamma, nonché elastomeri. Grazie alla piattaforma aperta Hp Multi Jet Fusion e a una rete di partner commerciali che operano nel settore dell’innovazione dei materiali, Hp ha in programma di allargare ulteriormente l’offerta dei materiali a disposizione dei propri clienti”. Arkema, Basf ed Henekel sono i partner già reclutati per collaborare allo sviluppo di nuovi materiali plastici per i modelli Jet Fusion 3D.

 

 

HP Inc. Gives Bullish 2018 Earnings Guidance – Investor’s Business Daily

HP Inc. (HPQ) gave upbeat 2018 earnings guidance late Thursday, sending shares of the PC-and-printer maker higher.

HP expects to earn $1.74 to $1.84 a share in fiscal 2018, which ends in October. The $1.79 midpoint is above the consensus for $1.75 according to Zacks Investment Research.

HP Inc., which split from Hewlett Packard Enterprise (HPE) in late 2015, is gaining market share in PCs, expects 2018 free cash flow of at least $3 billion. HP says it’ll return 50%-75% of that via dividends and stock buybacks.

HP also OK’d a 5% dividend hike.

Shares of HP rose 2.45% to 20.90 in late trading. HP fell 1 cent to 20.40 in the regular session in the stock market today.

HP closed Thursday still in range from a 19.68 buy point. HP initially cleared that entry on Aug. 24, after releasing fiscal Q3 2017 earnings. But shares closed under that level and didn’t truly clear the buy point until late September.

HP says it expects a profitable 2018 – MarketWatch

HP Inc. expects 2018 to be another good year, with profit projections beating Wall Street expectations, and it’s pledging to continue to return most of its cash to shareholders.

The high return rate, in the form of dividends and share buybacks, has driven the company’s shares through leaner times.

On Thursday, HP said it expects to generate at least $3 billion in free cash flow, the amount remaining after capital expenditures, and pledged to continue passing on to shareholders 50% to 75% of that money.

The board also approved a 5% increase in the quarterly dividend.

Over all, HP expects profit to reach $1.69 to $1.79 a share next year, or $1.74 to $1.84 on an adjusted basis, compared with analysts’ projected $1.66 a share, or $1.76 a share on an adjusted basis.

The company has been gaining market share in world-wide PC shipments, and battling for the title of largest maker of personal computers with Lenovo Group Ltd., while focusing on higher-profit segments like gaming and convertible laptops.

“Our business is focused on driving profitable share,” Chief Financial Officer Cathie Lesjak said on a conference call Thursday. “There is no question this is good, strong, profitable share.”

Chief Executive Dion Weisler said, “If you were to roll the tapes back to my very first security analyst meeting five years ago, I stood on stage and said, we don’t take share for share’s sake. That’s something that’s like prime directive across this organization.”

Formed in 2015, HP is the PC-and-printer business once part of Hewlett-Packard, the technology pioneer that Bill Hewlett and Dave Packard famously started in their Palo Alto, Calif., garage in 1939.

Shares, up 37% this year, closed down a penny Thursday at $20.40.

Write to Maria Armental at maria.armental@wsj.com and Rachael King at rachael.king@wsj.com







HP Inc. Announces Fiscal 2018 Financial Outlook – GlobeNewswire (press release)

PALO ALTO, Calif., Oct. 12, 2017 (GLOBE NEWSWIRE) — HP (NYSE:HPQ) –

News highlights:

  • Estimates GAAP diluted net earnings per share from continuing operations for fiscal 2018 of $1.69 to $1.79
  • Estimates non-GAAP diluted net earnings per share for fiscal 2018 of $1.74 to $1.84
  • Estimates fiscal 2018 free cash flow of at least $3.0 billion
  • Expects to return 50%-75% of fiscal 2018 free cash flow to shareholders through dividends and share repurchases

Today at HP Inc.’s 2017 Securities Analyst Meeting (SAM), the company provided details on its strategy and opportunities for long-term growth, coupled with its financial outlook for fiscal 2018.

“Fiscal 2017 has been a tremendous year for HP and we are just getting started. We’ve delivered reliable earnings and cash flow, taken profitable share, driven productivity, stabilized our core businesses, and importantly, we grew,” said Dion Weisler, President and Chief Executive Officer, HP Inc.  “We are well positioned to lead in the core, accelerate growth opportunities, like A3 and Graphics in Printing and commercial transformation in Personal Systems, and capture the future with 3D Printing in plastics and now metals.” 

Fiscal 2018 outlook

For fiscal 2018, the company estimates GAAP diluted net earnings per share from continuing operations to be in the range of $1.69 to $1.79 and estimates non-GAAP diluted net earnings per share to be in the range of $1.74 to $1.84. Fiscal 2018 non-GAAP diluted net earnings per share estimates exclude after-tax costs primarily related to items such as restructuring and other charges, acquisition-related charges, defined benefit plan settlement charges, amortization of intangible assets, non-operating retirement-related credits/(charges), net tax indemnifications, net valuation allowances and discontinued operations.  Based on the current environment, HP anticipates generating free cash flow of at least $3.0 billion for fiscal 2018.

HP expects to return 50%-75% of annual free cash flow to shareholders.  In fiscal 2018, the company indicated that it expects to be towards the higher end of that range, with a 5% increase in the planned quarterly dividend amount, and the balance returned to shareholders through share repurchases. 

“HP has been building strong business momentum, demonstrating our strategy is working,” said Cathie Lesjak, Chief Financial Officer. “We expect to continue our momentum in fiscal 2018.  We have shown that we can deliver in the short-term, while also positioning ourselves for long-term success.”

Webcast details

A webcast of today’s event, along with management presentations and other materials, is available at www.hp.com/investor/SAM2017. This news release contains only a summary of some of the information being presented at today’s event and should be read in conjunction with the management presentations and other materials made available on that website.

About HP Inc.

HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. (NYSE:HPQ) is available at http://www.hp.com.

Forward-looking statements

Today’s presentations contain forward-looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of HP Inc. and its consolidated subsidiaries (“HP”) may differ materially from those expressed or implied by such forward-looking statements and assumptions.

All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any projections of net revenue, margins, expenses, effective tax rates, net earnings, net earnings per share, cash flows, benefit plan funding, deferred taxes, share repurchases, foreign currency exchange rates or other financial items; any projections of the amount, timing or impact of cost savings or restructuring and other charges; any statements of the plans, strategies and objectives of management for future operations, including the execution of restructuring plans and any resulting cost savings, net revenue or profitability improvements; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief, including with respect to the timing and expected benefits of acquisitions and other business combinations and investment transactions; and any statements of assumptions underlying any of the foregoing.

Risks, uncertainties and assumptions include the need to address the many challenges facing HP’s businesses; the competitive pressures faced by HP’s businesses; risks associated with executing HP’s strategy; the impact of macroeconomic and geopolitical trends and events; the need to manage third-party suppliers and the distribution of HP’s products and the delivery of HP’s services effectively; the protection of HP’s intellectual property assets, including intellectual property licensed from third parties; risks associated with HP’s international operations; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its suppliers, customers, clients and partners; the hiring and retention of key employees; integration and other risks associated with business combination and investment transactions; the results of the restructuring plans, including estimates and assumptions related to the cost (including any possible disruption of HP’s business) and the anticipated benefits of the restructuring plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2016 and HP’s other filings with the Securities and Exchange Commission.

As in prior periods, the financial information set forth in today’s presentations, including any tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be reasonable, these amounts could differ materially from reported amounts in HP’s Annual Reports on Form 10-K for the fiscal years ending October 31, 2017 and October 31, 2018. HP assumes no obligation and does not intend to update these forward-looking statements. HP’s Investor Relations website at http://www.hp.com/investor/home contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated and new information is posted.

Use of non-GAAP financial information

To supplement HP’s consolidated financial statements presented on a generally accepted accounting principles (“GAAP”) basis, HP provides net revenue on a constant currency basis, non-GAAP total operating expense, non-GAAP operating margin, non-GAAP tax rate, non-GAAP net earnings, non-GAAP diluted net earnings per share, free cash flow, gross cash and net cash (debt) financial measures. HP also provides forecasts of non-GAAP diluted net earnings per share. These non-GAAP financial measures are not computed in accordance with, or as an alternative to, generally accepted accounting principles in the United States. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the slides presented at the 2017 Securities Analyst Meeting. In addition, an explanation of the ways in which HP’s management uses these non-GAAP measures to evaluate its business, the substance behind HP’s decision to use these non-GAAP measures, the material limitations associated with the use of these non-GAAP measures, the manner in which HP’s management compensates for those limitations, and the substantive reasons why HP’s management believes that these non-GAAP measures provide useful information to investors is included below. This additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for net revenue, operating profit from continuing operations, operating margin from continuing operations, net earnings from continuing operations, diluted net earnings per share from continuing operations or cash and cash equivalents prepared in accordance with GAAP.

Use and economic substance of non-GAAP financial measures

Net revenue on a constant currency basis assumes no change in the foreign currency exchange rate from the prior-year period. Non-GAAP operating margin is defined to exclude the effects of any amounts relating to restructuring and other charges, acquisition-related charges, defined benefit plan settlement charges, amortization of intangible assets and non-operating retirement-related credits/(charges). Non-GAAP net earnings and non-GAAP diluted net EPS consist of net earnings from continuing operations or diluted net EPS from continuing operations excluding those same charges and net tax indemnifications. In addition, non-GAAP net earnings and non-GAAP diluted net EPS are adjusted by the amount of additional taxes or tax benefits associated with each non-GAAP item and other tax benefits or charges as a consequence of the separation of Hewlett Packard Enterprise Company from HP Inc. (the “Separation”). HP’s management uses these non-GAAP financial measures for purposes of evaluating HP’s historical and prospective financial performance, as well as HP’s performance relative to its competitors. HP’s management also uses these non-GAAP measures to further its own understanding of HP’s segment operating performance. HP believes that excluding the items mentioned above for these non-GAAP financial measures allows HP’s management to better understand HP’s consolidated financial performance in relation to the operating results of HP’s segments, as HP’s management does not believe that the excluded items are reflective of ongoing operating results. More specifically, HP’s management excludes each of those items mentioned above for the following reasons:

  • Restructuring and other charges are (i) costs associated with a formal restructuring plan and are primarily related to employee termination costs and benefits, costs of real estate consolidation and other non-labor charges; and (ii) other charges, which include non-recurring costs that are distinct from ongoing operational costs. HP excludes these restructuring and other charges (and any reversals of charges recorded in prior periods) for purposes of calculating these non-GAAP measures because HP believes that these historical costs do not reflect expected future operating expenses and do not contribute to a meaningful evaluation of HP’s current operating performance or comparisons to HP’s operating performance in other periods. 
  • HP incurs cost related to its acquisitions, which it would not have otherwise incurred as part of its operations. The charges are direct expenses such as third-party professional and legal fees, and integration-related costs. These charges related to acquisitions are inconsistent in amount and frequency and are significantly impacted by the timing and nature of HP’s acquisitions. HP believes that eliminating such expenses for purposes of calculating these non-GAAP measures facilitates a more meaningful evaluation of HP’s current operating performance and comparisons to HP’s past operating performance.
  • HP incurs charges relating to the amortization of intangible assets. Those charges are included in HP’s GAAP earnings from continuing operations, operating margin from continuing operations, net earnings from continuing operations and diluted net EPS from continuing operations. Such charges are significantly impacted by the timing and magnitude of HP’s acquisitions and any related impairment charges. Consequently, HP excludes these charges for purposes of calculating these non-GAAP measures to facilitate a more meaningful evaluation of HP’s current operating performance and comparisons to HP’s operating performance in other periods.
  • Non-operating retirement-related credits/(charges) includes certain market-related factors such as interest cost, expected return on plan assets, amortized actuarial gains or losses, and impacts from other market-related factors associated with HP’s defined benefit pension and post-retirement benefit plans. The market-driven retirement-related adjustments are primarily due to the changes in pension plan assets and liabilities which are tied to financial market performance and HP considers these adjustments to be outside the operational performance of the business. Non-operating retirement-related credits/(charges) also include certain plan curtailments, settlements and special termination benefits related to HP’s defined benefit pension and post-retirement benefit plans. HP believes that eliminating such adjustments for purposes of calculating non-GAAP measures facilitates a more meaningful evaluation of HP’s current operating performance and provides better transparency into the segment operating results.
  • As part of the Separation, HP evaluates all tax uncertain positions to determine the indemnification amounts under the Tax Matters Agreement with Hewlett Packard Enterprise Company and records the adjustments as net tax indemnifications amounts for the quarter. HP excludes these adjustments for the purposes of calculating these non-GAAP measures to facilitate a more meaningful evaluation of HP’s current operating performance and comparisons to HP’s operating performance in other periods.
  • HP incurred defined benefit plan settlement charges relating to the U.S. HP pension plan. The charges are associated with the net settlement and remeasurement resulting from voluntary lump sum payments offered to certain terminated vested participants. HP excludes these charges for the purposes of calculating these non-GAAP measures to facilitate a more meaningful evaluation of HP’s current operating performance and comparisons to HP’s operating performance in other periods.
  • As part of the Separation, HP recorded several Separation-related items including: the reversal of a previously recorded valuation allowance, the write-off of specific deferred taxes providing no continued benefit to HP and the entry of certain Separation-related deferred tax expense.  HP believes that eliminating these amounts for purposes of calculating non-GAAP net earnings facilitates a more meaningful comparison of HP’s net earnings to other periods, as HP’s management does not believe that the excluded items are reflective of ongoing operating results.

Free cash flow is a non-GAAP measure that is defined as cash flow from operations less net capital expenditures. Net capital expenditures is defined as investments in property, plant and equipment less proceeds from the sale of property, plant and equipment. Gross cash is a non-GAAP measure that is defined as cash and cash equivalents plus short-term investments and certain long-term investments that may be liquidated within 90 days pursuant to the terms of existing put options or similar rights. HP’s management uses gross cash for the purpose of determining the amount of cash available for investment in HP’s businesses, repurchasing stock and other purposes. HP’s management also uses gross cash to evaluate HP’s historical and prospective liquidity. Because gross cash includes liquid assets that are not included in GAAP cash and cash equivalents, HP believes that gross cash provides a helpful assessment of HP’s liquidity. Net cash (debt) is defined as gross cash less gross debt after adjusting the effect of unamortized premium/discount on debt issuance, debt issuance costs and unrealized gains/losses on fair value hedges and interest rate swaps.

Material limitations associated with use of non-GAAP financial measures

These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of HP’s results as reported under GAAP. Some of the limitations in relying on these non-GAAP financial measures are:

  • Items such as amortization of intangible assets, though not directly affecting HP’s cash position, represent the loss in value of intangible assets over time. The expense associated with this change in value is not included in non-GAAP operating margin, non-GAAP net earnings and non-GAAP diluted net EPS, and therefore does not reflect the full economic effect of the change in value of those intangible assets.
  • Items such as restructuring and other charges, acquisition-related charges, non-operating retirement-related credits/(charges), defined benefit plan settlement charges, net tax indemnifications and net valuation allowance, and separation taxes and adjustments that are excluded from non-GAAP operating margin, non-GAAP net earnings and non-GAAP diluted net EPS can have a material impact on the equivalent GAAP earnings measure and cash flows.
  • HP may not be able to immediately liquidate the short-term and long-term investments included in gross cash, which may limit the usefulness of gross cash as a liquidity measure.
  • Other companies may calculate the non-GAAP financial measures differently than HP, limiting the usefulness of those measures for comparative purposes.

Compensation for limitations associated with use of non-GAAP financial measures

HP compensates for the limitations on its use of non-GAAP financial measures by relying primarily on its GAAP results and using non-GAAP financial measures only supplementally. HP also provides robust and detailed reconciliations of each non-GAAP financial measure to its most directly comparable GAAP measure within this news release and in other written materials that include these non-GAAP financial measures, and HP encourages investors to review those reconciliations carefully.

Usefulness of non-GAAP financial measures to investors

HP believes that providing net revenue on a constant currency basis, non-GAAP operating margin, non-GAAP tax rate, non-GAAP total operating expense, non-GAAP net earnings, non-GAAP diluted net EPS, free cash flow, gross cash and net cash (debt) to investors in addition to the related GAAP financial measures provides investors with greater transparency to the information used by HP’s management in its financial and operational decision making and allows investors to see HP’s results “through the eyes” of management. HP further believes that providing this information better enables HP’s investors to understand HP’s operating performance and financial condition and to evaluate the efficacy of the methodology and information used by HP’s management to evaluate and measure such performance and financial condition. Disclosure of these non-GAAP financial measures also facilitates comparisons of HP’s operating performance with the performance of other companies in HP’s industry that supplement their GAAP results with non-GAAP financial measures that may be calculated in a similar manner.

© 2017 HP Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP Inc. products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP Inc. shall not be liable for technical or editorial errors or omissions contained herein.

Wine Country inferno singes Keysight Technologies Santa Rosa HQ, but complex still viable, employee spirits strong – The Mercury News

SANTA ROSA — Keysight Technologies, Sonoma County’s largest publicly owned company, was forced to vacate its head offices as one of the Wine Country fires bore down on the area, but Keysight’s top boss said Thursday the headquarters is intact despite some damage.

Keysight employees working Sunday night were evacuated from the Santa Rosa headquarters. The million-square-foot, 200-acre campus remained emptied out Thursday, days after flames first roared through tinder-dry Sonoma and Napa counties.

“Our number one priority is the safety of our employees, not only our employees, but our employees’ families — those are priorities one, two and three,” said Ronald Nersesian, chief executive officer of Keysight Technologies, which makes instruments, systems and software for electronic measurements and is descended from the original Hewlett-Packard operations in the Bay Area.

Yet plenty remains up in the air on that score for Keysight, which produced $232 million in profits on revenue of $3.06 billion over a 12-month period through July.

The company has 1,500 workers who typically work at its Santa Rosa headquarters, including 1,100 full-time employees. At least 49 of those employees lost their homes in the firestorm. And while Keysight has reached out to every one of its workers, the company as of Thursday afternoon still hadn’t heard back from a few of them.

Some modular buildings on the edges of the campus have burned to the ground. They contained a preschool that Keysight had donated to Santa Rosa as well as a credit union. But the main campus remains largely untouched by the fire.

“We have officially said the site is closed this week,” Nersesian said. “There are some minor areas where there may have been some water damage. We are going through this bit by bit. There is no question we will be fine.”

One technology industry expert, Tim Bajarin, principal analyst with Campbell-based Creative Strategies, said it appears Keysight could be back in its head offices sooner than later.

“If the fire has skirted them and they haven’t had any structural damage, the amount of time they will be away from that facility is probably less than two weeks,” Bajarin said.

Plus, Keysight, which had a market value of $7.92 billion on Thursday, operates in numerous locations. The company has about 100 worldwide locations, including a major operation in Colorado, and 12,300 workers globally.

“It’s going to be a challenge, but the downtime will be weeks, and not months,” Bajarin said.

Keysight has begun to help its displaced employees in direct and indirect ways.

The company has offered $10,000 of assistance — which doesn’t have to be repaid — for any employee who has lost a home. Anyone who had to be relocated can receive $1,000 in temporary assistance. Keysight has established a travel agency to help people find new temporary quarters. In addition, a satellite location has been set up where employees can gather.

“Disasters provide challenges and opportunities for companies,” said Karlene Roberts, PhD, a professor of business administration at UC Berkeley’s Haas School of Business. “In this case, the company has to deal with helping employees to settle down both emotionally and physically.”

That might require flex schedules for some period of time, Roberts said.

“They have to be certain that schedules are flexible,” Roberts said. “Business teams can become like little families.”

Keysight has a long history in Santa Rosa. In 1972, the ancestor of the company, Hewlett-Packard, began operations in Santa Rosa and was part of the Agilent Technologies spin-off from H-P. Eventually, Keysight was spun off from Agilent.

“We are from the original Hewlett-Packard company,” Nersesian said.

Nersesian believes the company’s roots of considering the needs of employees are serving it well amid the fire disaster.

“I guarantee you that the original DNA of Hewlett-Packard exists in Keysight, and is completely alive and kicking,” Nersesian said. “We have survived through many technology waves and technology changes and macroeconomic cycles. We are here for the long term and really excited about the future.”