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Gateway gets hammered in Europe

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PC maker Gateway has recorded Q2 sales of $1.5 billion, down from $2.2 billion a year earlier.

The revenues were well below the $1.9 billion expected and the company has unsurprisingly described the market as "challenging".

Net losses for the period were $20.8 million including one off charges. It made a profit of $118m a year earlier.

The company got a severe spanking in Europe with sales plummeting 46 per cent. In the Asia Pacific region they fell by 36 per cent.

Gateways' way out of the situation is a corporate rejig - staff will be sacked as it creates a solutions group out of its consumer and business units. ®

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