Compaq turns profit despite upheavals

Compaq Australia posted a 14 per cent revenue increase and a 25 per cent profit revenue for the year ended December 31, compared with the same period last year. Globally, the company announced net income of $US569 million for 1999 compared with a net loss of $2.7 billion in 1998. The local breakdowns were not available.

"We had a very good year," said Ian Penman, Compaq Australia's managing director. "We came home with a wet sail in the last few weeks of the year and we had a very good December."

Penman said Compaq had made a "considerable investment" in its reorganisation in 1997 and 1998 that saw the company increase its focus on individual customer segments.

Compaq's enterprise division posted a 60 per cent year-on-year profit growth, and the consumer division grew 58 per cent compared with the same time last year. Its professional services organisation grew 30 per cent locally, compared with 14 per cent globally.

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