HP has confirmed that it ended its fourth fiscal quarter on 31 October with net revenue of $33,6-billion, up 19% from a year earlier and up 16% when adjusted for the effects of currency.

Excluding EDS revenue, net revenue grew 5% year over year or 2% when adjusted for the effects of currency.
In the fourth quarter, GAAP operating profit was $2,7-billion and GAAP diluted earnings per share (EPS) was $0,84, up from $0,81 in the prior-year period. Non-GAAP operating profit was $3,4-billion, with non-GAAP diluted EPS of $1,03, up from $0.86 in the prior-year period.
Non-GAAP financial information excludes $482-million of adjustments on an after-tax basis, or $0,19 per diluted share, related primarily to amortisation of purchased intangible assets, restructuring charges, acquisition-related charges and in-process research and development charges.
"HP capped off a strong year by delivering another solid quarter led by strength in our services segment and disciplined expense management," says Mark Hurd, HP chairman and CEO. "Our global reach, broad portfolio, numerous cost initiatives and consistent execution differentiate HP in the current economic environment."
Revenue grew 17% in the Americas, 22% in Europe, the Middle East &Africa and 14% in Asia Pacific to $14-billion, $14,1-billion and $5,5-billion respectively. When adjusted for the effects of currency, revenue grew 17% in the Americas, 15% in Europe, the Middle East & Africa and 12% in Asia Pacific.
Revenue from outside of the US in the fourth quarter accounted for 68% of total revenue, with revenue in the BRIC countries (Brazil, Russia, India and China) growing 23% over the prior-year period and accounting for 9% of total revenue.
Personal Systems Group (PSG) revenue grew 10% to $11,2-billion, with unit shipments up 19%. Notebook revenue for the quarter grew 21%, while desktop revenue declined 2%. Commercial client revenue grew 7%, while consumer client revenue increased 15%. Operating profit was $616-million, or 5,5% of revenue, up from $589-million, or 5,8% of revenue, in the prior-year period.
Imaging and Printing Group (IPG) revenue declined 1% to $7,5-billion. Supplies revenue grew 9%, while commercial hardware revenue and consumer hardware revenue declined 10% and 21%, respectively. Printer unit shipments decreased 8%, with consumer printer hardware units down 8% and commercial printer hardware units down 9%. Operating profit was $1,2-billion, or 15,5% of revenue, versus $1,1-billion, or 14,5% of revenue, in the prior-year period.
Enterprise Storage and Servers (ESS) reported total revenue of $5,1-billion, down 1%. Storage revenue grew 13% led by 16% revenue growth in the midrange EVA product line and 9% revenue growth in the high-end XP product line. Industry Standard Server revenue declined 3% and Business Critical Systems revenue declined 10% while ESS blade revenue increased 43%. Operating profit was $705-million, or 13,9% of revenue, down from $736-million, or 14,4% of revenue, in the prior-year period.
HP Services (HPS) revenue increased 99% to $8,6-billion, led by $3,9-billion revenue resulting from the EDS acquisition. Excluding EDS, HPS revenue grew 10%. Revenue in technology services and outsourcing services grew 10% and 15%, respectively, with revenue in consulting and integration up 2%. Operating profit was $920-million, or 10,6% of revenue, compared to $515-million, or 11,8% of revenue, in the prior-year period.
HP Software revenue grew 13% to $855-million, led by 15% growth in the business technology optimisation portfolio. Operating profit was $195-million, or 22,8% of revenue, up from $145-million, or 19,1% of revenue, in the prior-year period.
HP Financial Services (HPFS) reported revenue of $691-million, up 5%. Financing volume increased 5%, and net portfolio assets declined 2%. Operating margin was 7,4% of revenue, up from 7,3% in the prior-year period.
HP generated $3,3-billion in cash flow from operations for the fourth quarter. Inventory ended the quarter at $7,9-billion, down seven days.
Net revenue for the full fiscal year was $118,4-billion, representing growth of 13% or 8% when adjusted for the effects of currency. GAAP operating profit was $10,5-billion and GAAP diluted EPS was $3,25, up from $2,68 in the prior year.
Non-GAAP operating profit was $11,8-billion, with non-GAAP diluted EPS of $3,62, up from $2,93 in the prior year. Non-GAAP financial information excludes $973-million of adjustments on an after-tax basis, or $0,37 per diluted share,.
In providing its outlook for the first fiscal quarter and full year 2009, the company has taken into consideration the current challenging economic environment and the relative strength of the US dollar. Based on current exchange rates, the company now expects an unfavorable year-over-year currency impact on revenue of approximately five percentage points in the first quarter and roughly six to seven percentage points for the full fiscal year and this impact is reflected in its outlook.