HP has announced that its net revenue for the full year ended 31 October 2014 was down 1% on the previous year, at $111,5-billion.
Fiscal 2014 non-GAAP diluted net earnings per share were $3.74, within the previously provided outlook of $3.70 to $3.74 per share. Fiscal 2014 GAAP diluted net earnings per share of $2.62 were within the previously provided outlook of $2.60 to $2.64 per share.
Fourth quarter net revenue of $28,4-billion was down 2% from the prior-year period and down 3% on a constant currency basis.
Fourth quarter non-GAAP diluted net earnings per share were $1.06, up 5% from the prior-year period, versus the previously provided outlook of $1.03 to $1.07 per share. GAAP diluted net earnings per share for the quarter were $0.70, down 4% from the prior-year period, versus the previously provided outlook of $0.67 to $0.71 per share.
Fourth quarter cash flow from operations came in at $2,7-billion, down 4% from the prior-year period.
HP returned $1,1-billion to shareholders in the form of share repurchases and dividends in the fourth quarter.
“I’m excited to say that HP’s turnaround continues on track,” says Meg Whitman, chairman, president and CEO of HP. “In FY14, we stabilised our revenue trajectory, strengthened our operations, showed strong financial discipline, and once again made innovation the cornerstone of our company. Our product roadmaps are the best they’ve been in years and our partners and customers believe in us.
“There’s still a lot left to do, but our efforts to date, combined with the separation we announced in October, sets the stage for accelerated progress in FY15 and beyond.”