UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
February
17, 2010
(Date
of Report (Date of Earliest Event Reported)
|
||
HEWLETT-PACKARD
COMPANY
|
||
(Exact
name of registrant as specified in
its charter)
|
||
DELAWARE
|
1-4423
|
94-1081436
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File Number)
|
(I.R.S.
Employer
Identification
No.)
|
3000
HANOVER STREET, PALO ALTO, CA
|
94304
|
|
(Address
of principal executive offices)
|
(Zip
code)
|
|
(650) 857-1501
|
||
(Registrant’s
telephone number, including area
code)
|
Results of Operations and
Financial Condition.
|
|
On February
17, 2010, Hewlett-Packard Company (“HP”) issued a press release relating
to its fiscal quarter ended January 31, 2010 entitled “HP Reports
First Quarter 2010 Results.” The text of this press release, with the
related GAAP consolidated condensed statements of earnings, GAAP
consolidated condensed balance sheets, adjustments to certain GAAP
financial information, GAAP consolidated condensed statements of cash
flows, certain segment and business unit information, and certain
additional financial information, is furnished herewith as Exhibit 99.1.
The information in Exhibit 99.1 shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and shall not be deemed incorporated by reference into
any filing under the Securities Act of 1933, as amended (the “Securities
Act”), solely as a result of being included in Exhibit 99.1.
HP’s
GAAP consolidated condensed statements of earnings, GAAP consolidated
condensed balance sheets and certain segment information for the fiscal
quarter ended January 31, 2010 also are filed herewith as Exhibit
99.2. The information in Exhibit 99.2 is filed for purposes of Section 18
of the Exchange Act and therefore may be incorporated by reference into
filings under the Securities Act.
To
supplement HP’s consolidated condensed financial statements presented on a
GAAP basis, HP provides non-GAAP operating profit, non-GAAP operating
margin, non-GAAP net earnings, non-GAAP diluted earnings per share and
gross cash. HP also provides forecasts of non-GAAP diluted earnings per
share. A reconciliation of the adjustments to GAAP results for
HP’s fiscal quarter ended January 31, 2010 and prior periods is
included in the tables that are a part of Exhibit 99.1. In addition, an
explanation of the ways in which HP management uses these non-GAAP
measures to evaluate its business, the substance behind HP management’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
management compensates for those limitations, and the substantive reasons
why HP management believes that these non-GAAP measures provide useful
information to investors is included under “Use of Non-GAAP Financial
Information” in Exhibit 99.1. This additional non-GAAP financial
information is not meant to be considered in isolation or as a substitute
for operating profit, operating margin, net earnings, diluted earnings per
share, or cash and cash equivalents prepared in accordance with
GAAP.
At
the beginning of each fiscal year, HP conducts a review of its financial
reporting structure and determines whether changes should be made to align
its financial reporting more closely with its business
structure. As a result of HP’s fiscal 2010 review, HP has
implemented certain fiscal 2010 organizational realignments. To provide
improved visibility and comparability, HP has reflected these realignments
in prior periods on an as-if basis. These realignments resulted in the
transfer of revenue among the business units within the
Services segment. These changes did not impact HP’s previously
reported consolidated net revenue, earnings from operations, net earnings
or net earnings per share or the previously reported revenue for any of
HP's financil reporting segments.
As
a result of these changes, HP released revised statements of business
unit revenue for fiscal 2008 and 2009, which are attached hereto as
Exhibit 99.3. Exhibit 99.3 is furnished herewith and shall not be deemed
“filed” for purposes of Section 18 of the Exchange Act, nor shall it be
deemed incorporated by reference into any filing under the Securities
Act.
|
Financial
Statements and Exhibits.
|
|
Exhibit
Number
|
Description
|
Exhibit
99.1
|
Text
of HP’s press release relating to its fiscal quarter ended January
31, 2010, entitled “HP Reports First Quarter 2010 Results,” with the
related GAAP consolidated condensed statements of earnings, GAAP
consolidated condensed balance sheets, adjustments to certain GAAP
financial information, GAAP consolidated condensed statements of cash
flows, segment financial results, business unit revenue, and certain
additional financial information (furnished herewith).
|
Exhibit
99.2
|
HP’s
GAAP consolidated condensed statements of earnings, GAAP consolidated
condensed balance sheets, and segment information for its fiscal
quarter ended January 31, 2010 (filed herewith).
|
Exhibit
99.3
|
HP’s
revised statements of business unit revenue for fiscal 2008 and 2009
(furnished herewith).
|
SIGNATURE | ||||
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
|
||||
HEWLETT-PACKARD
COMPANY
|
||||
DATE: February
17, 2010
|
By:
|
/s/ Paul T. Porrini |
|
|
Name:
|
Paul
T. Porrini
|
|||
Title:
|
Vice
President, Deputy General Counsel
and Assistant Secretary |
Exhibit
Number
|
Description
|
Exhibit
99.1
|
Text
of HP’s press release relating to its fiscal quarter ended January
31, 2010 entitled “HP Reports First Quarter 2010 Results,” with the
related GAAP consolidated condensed statements of earnings, GAAP
consolidated condensed balance sheets, adjustments to certain GAAP
financial information, GAAP consolidated condensed statements of cash
flows, segment financial results, business unit revenue, and certain
additional financial information (furnished herewith).
|
Exhibit
99.2
|
HP’s
GAAP consolidated condensed statements of earnings, GAAP consolidated
condensed balance sheets, and segment information for its fiscal
quarter ended January 31, 2010 (filed herewith).
|
Exhibit
99.3
|
HP’s
revised statements of business unit revenue for fiscal 2008 and 2009
(furnished herewith).
|