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Articles about Financials

HP cloud

Hey, put away that scythe, Death: Pulse found in HP's 2014 financials

HP has projected healthier financial results for 2014 than beancounters had forecast - causing its share price to rocket up in value. In a meeting with analysts on Wednesday various HP executives sought to reassure nervous investors that the tech titan's turnaround is succeeding. "While there is a lot more work to be done, I am …
Jack Clark, 09 Oct 2013

You... (Sigh). You store our financials in a 'Clowds4U' account?

More than 80 per cent of employees use software that has not been signed off on for use by their employer, according to a new survey. Stratecast and Frost & Sullivan asked 300 IT staff and 300 "line of business" (LoB) employees at large companies that employ at least 1,000 people in the UK, North America, Australia and New …
OUT-LAW.COM, 09 Jan 2014

We'll miss SEC financials deadline, says accounts-blundering Tech Data

Tech Data has warned it will fail to report its fiscal first-quarter financial numbers to the US Securities and Exchange Commission on time due to a continuing investigation into its accounting errors. The channel biz has 45 days from the end of April to file the paperwork, but says it will sail through that deadline. The world …
Paul Kunert, 11 Jun 2013
Larry Ellison, photo by Oracle Corporate Communications

Oracle pumps out Q4 financials in premature release: See? We're OK

Oracle rushed through the public filing of decent Q4 financials last night some three days earlier than planned to head off any industry talk that the pending exit of a sales bigwig was due to tumbling turnover. The word on the street, well at least on Murdoch's Wall St rag Barron's, is that 26-year Oracle veteran, exec veep of …
Paul Kunert, 19 Jun 2012
Huawei campus Shenzhen

Huawei rakes in £2 BEEELLION in profits

Chinese tech success story and NSA spy target Huawei has seen profits jump by a third over the past year to 21 billion yuan (£2bn) on the back of strong growth from its enterprise and consumer businesses. The Shenzhen-headquartered firm cemented its place as one of the Middle Kingdom’s most internationally successful technology …
Phil Muncaster, 01 Apr 2014
The Register breaking news

'PENDING LARRY QUOTE' - Google financials dunder blunder

This was the week some Googler's finger slipped at just the wrong moment, sending its rather worrying financial results out a mite too early. The Chocolate Factory's third quarter profits were much lower than expected and its revenue, famed for continued growth, has slowed down. It was quite clear that the early release was a …
Samsung Galaxy S4 Active

Samsung profits deflate after mobile division runs out of puff

Global smartphone leader Samsung took a knock on Friday after releasing Q4 financials that show a drop in profits of 11 per cent from the previous three months – its first quarterly decline in two years. The Korean giant said net profits stood at 7.3tr won (£4bn) for the fourth quarter, while operating profit was 8.31tr won (£5. …
Phil Muncaster, 24 Jan 2014
Sony Vaio T13

Sony on the ropes after Moody's downgrade to junk

Sony got off to a terrible start to the week on Monday after credit ratings company Moody’s downgraded its status to junk thanks to the continuing poor performance of its TV and PC business. Moody’s Japan said it lowered Sony’s issuer rating and long-term senior unsecured bond rating from Baa3 to Ba1. Junk status means a bond is …
Phil Muncaster, 28 Jan 2014
Huawei Shenzhen headquarters

Huawei dismisses NSA backdoor claims as profits soar

It’s been a mixed week for Chinese telecoms giant Huawei after the firm announced impressive financials but was forced again to deny allegations of security weaknesses in its products. The device and telecoms kit maker announced its unaudited financials on Wednesday, claiming sales revenue for 2013 will reach between 238 billion …
Phil Muncaster, 16 Jan 2014

Intel, AMD financials: Bad news for Obama campaign

Nothing affects the outcome of a US presidential election more than the state of the economy, and if Barack Obama heard the comments made by Intel and AMD execs when they announced their company's earnings this week, he may very well have broken into a flop sweat. "As we look ahead to the second half of this year, consumer …
Rik Myslewski, 20 Jul 2012
Cat 5 cable

Akamai to gobble down Prolexic for its enterprise DDoS defences

Content delivery and security services firm Akamai has announced its plans to slurp Prolexic, a cloud security outfit, for $370m. Prolexic will help Akamai strengthen its protection for corporate clients with online protection from distributed denial of service (DDoS) attacks for data centres and enterprise IP apps. "Any …
management management3

Enormo reseller SCC rejgs exec chairs for growth spurt

Specialist Computer Centres (SCC) has initiated a restructure to spearhead a four-year growth plan, say our sources in vendor land. This follows a review by external consultants who were drafted in to help create the multi-year business plan, with more highly paid biz advisors believed to be coming in to help implement plans. …
Paul Kunert, 21 Jan 2014
management strategy3

EMC hires channel veteran as new EMEA COO

Former Colt Technology Services grand fromage Simon Walsh is set to become one of the top brass at EMC EMEA, according to multiple industry sources. Walsh, an exec director at Colt, exited the business back in November along with a couple of his lieutenants following nearly three years at the firm. Sources told us that Walsh …
Paul Kunert, 15 Jan 2014
Chillout area in Google's data center

Google spends in three months on data centers what used to take a year

Google spent a whopping $US2.35bn on its data centers in the first quarter of 2014. The expenditure was revealed by Google on Wednesday deep within its financial results and demonstrates how much the company has grown in the past decade, considering that it spent the same amount during the entirety of 2008. In other words, what …
Jack Clark, 17 Apr 2014
euros_channel_money

Dimension Data hoovers up NextiraOne's Euro operations

Dimension Data has hoovered up certain subsidiaries of comms and networking integrator NextiraOne after the deal was given the green light by the European Commission's Mergers and Acquisitions team. The cash terms were not disclosed but initially Di Data will swallow 13 Euro country operations – including the UK – and, dependent …
Paul Kunert, 04 Feb 2014

Spotify reckons it's worth $4 BILLION - and Netflix investor agrees

In the latest WTF valuation, music streaming site Spotify has raised around $250m in fresh funding, valuing the firm at a hefty $4bn. Spotify scooped the new financing from investors led by Technology Crossover Ventures, an early backer of Netflix, sources familiar with the deal whispered to the Financial Times. It's not …

Intel sees 'signs of improvement in the PC business' but earnings remain 'Meh...'

Intel has posted its financial results for its first quarter of fiscal 2014 that were either marginally lower or higher than analysts' estimates, depending upon which analysts you trust. Chipzilla reported revenues of $12.8bn for the quarter, with net income of $1.9bn and the all-important earnings per share (EPS) coming in at $ …
Rik Myslewski, 15 Apr 2014
Samsung Diva

Seoul-blackening disappointment for Samsung backers as stock droops

Shares in Samsung Electronics fell to their lowest in four months, dropping over four per cent on Thursday, after analysts said the firm's quarterly earnings were likely to be hit by the strong won and weaker business in its display unit, according to Reuters. The Korean chaebol's stock closed down 4.6 per cent on its fifth …

Windows Phone beats BLACKBERRY in mobe OS popularity stakes

The difference is small, and they are both way behind the leaders, but online data analytics specialists comScore have reported that while usage of Windows Phone stayed steady as a rock at 3.2 per cent, BlackBerry slipped half a percent down at 3.1 per cent. This puts Windows in third place, behind Apple (at 41.7 per cent) and …
Simon Rockman, 12 Mar 2014

AMD posts $1.4bn in sales, beats Wall Street moneymen's predictions

AMD has announced its financial results for its first fiscal quarter, and the chip designer handily beat analysts' expectations in both revenues and the all-important – to the Wall Street moneymen, at least – earning per share (EPS). On both a GAAP and non-GAAP basis – which excludes one-time items* – AMD reported revenues of $1 …
Rik Myslewski, 17 Apr 2014
Dunce

Symantec fires CEO Steve Bennett: To lose 1 chief is unfortunate, to lose 2 is OK, apparently

Symantec has fired its second CEO in two years: the company's chief exec, president and former board chairman Steve Bennett was today shown the door after less than 18 months on the job. "We recognize Steve's contributions to Symantec, including developing and leading a series of successful initiatives focused on organizational …
Iain Thomson, 20 Mar 2014

Colt Technology Services bigwigs exit stage left

Colt Technology Services exec director Simon Walsh and some of his lieutenants have exited the business, The Channel can reveal. "We can confirm that Simon Walsh no longer works for Colt Technology Services and that Jürgen Hernichel is now leading that area of the business," a Colt PR person told us. Previously, Hernichel was …
Paul Kunert, 14 Nov 2013
Scrooge McDuck

Lenovo cracks its first ever $10bn quarter

Lenovo sold a record-breaking 32.6 million pieces of kit in the last quarter, passing the $US10 billion (£6bn) revenue milestone for the first time. The PC giant’s third fiscal quarter ending 31 December saw revenue up 15 per cent year-on-year to $10.8bn (£6.5) and profits up even more, growing 30 per cent to $321m (£193m). The …
Phil Muncaster, 13 Feb 2014

Tech Data to close lid on accounting nightmare TOMORROW

Tech Data is about to wake up from the restatement nightmare that has troubled senior execs for nearly 11 months when it reports delayed fiscal '13 numbers tomorrow. The world's second largest tech wholesaler revealed in March that it discovered errors in vendor accounting which could wipe up to $33m off its bottom line for …
Paul Kunert, 04 Feb 2014
wall_street

Dell will drop the F-bomb FIVE days early in epic power struggle

Dell has pulled forward the reporting of its fiscal Q1 financials by five days amid a battle between Michael Dell and activist investor Carl Icahn over the future ownership of the Texan PC giant. The company confirmed last night that it has scheduled the conference call with analysts tomorrow - 16 May - indicating that Dell's …
Paul Kunert, 15 May 2013

Brit education tech supplier comes back to life after collapse

The company formerly known as Tribune Business Systems is about to be reanimated after Dubai-based investment firm VMS bought it out of administration in a classic pre-pack arrangement. As revealed this week, the London-based education supplier called in receivers FRP Advisory after failing to secure additional investment. All …
Paul Kunert, 07 Mar 2014

Misco set to snap up Phoenix's network ops centre AND its staff

Phoenix IT Group is set to offload its network operations centre in High Wycombe to Misco, TUPEing across six staff in the process. The lease on the building is expected to be assumed by direct marketing reseller Misco, which, under the guidance of former Dell exec Pim Dale, is trying to rely less on tin shifting by building a …
Paul Kunert, 14 Feb 2014

Bottom falls out of Nokia's network rump

Nokia Solutions and Networks (NSN) is facing a 19 per cent drop in sales for the last quarter and an even bigger challenge for the coming 12 months: how to win enough new biz to support a company soon to be shorn of its handset division. NSN will comprise the majority of the company once the sale of the Finnish giant’s once- …
Phil Muncaster, 21 Jan 2014

Insight warns Q1 sales and operating profits to fall

Insight Enterprises hasn't managed to dust off the economic cobwebs just yet if prelim calendar Q1 financials are anything to go by. The reselling powerhouse said today it expects revenues to decline five per cent on the same quarter a year ago to $1.2bn, and warned operating profit will drop to $17m from $25.6m - excluding …
Paul Kunert, 19 Apr 2013
chain_relationship_channel

Distie: Build the cloud and resellers will come... so WHERE ARE THEY?

Disties have built cloudy aggregation platforms for channel types under the assumption they would come… but they are still waiting for mass adoption. It would seem that reseller solutions provider reseller demand for brokerage services, such as the one that Arrow ECS launched 18 months ago has been a little underwhelming. Some …
Paul Kunert, 04 Dec 2013
channel_teaser_money_top

Dimension Data tables bid to swallow global services biz NextiraOne

NTT-owned Dimension Data has tabled a bid for comms and networking reseller NextiraOne in a deal that is currently awaiting approval by the European Commission's Merger & Acquisitions office. A spokeswoman at South Africa network integrator Di Data confirmed that it had "made an offer" but was unable to make any further …
Paul Kunert, 02 Dec 2013

Tech Data: UK accounting errors cost us $27m

Tech Data (TD) has turned to "external experts" to beef up fraud detection measures after it emerged that righting accounting wrongs at its UK sub had wiped $27m (£16.55m) off net profits for the last three years. The restatement equates to three per cent of income made during fiscal '11, '12 and '13, the periods that forensic …
Paul Kunert, 05 Feb 2014
Spooky angel doll

Hey, G20. Please knock it off with the whole tax loophole thing - we're good guys, really

A tech lobbying group has written to the OECD to try and stop the G20's efforts to close loopholes that let international firms legally avoid some of their taxes. The Digital Economy Group's letter was published by the think-tank along with other documents both for and against reforms to international tax laws, ahead of a …

SEC asks Affiliated Computer Services to step aside, snaps on rubber glove

The Securities and Exchange Commission is probing bean counting methods used by Xerox tentacle Affiliated Computer Services. In a filing, the copier monster confirmed the SEC has been "conducting an investigation of certain accounting practices" at ACS, an outsourcing and data centre management player that Xerox forked out $6. …
Paul Kunert, 08 Oct 2013

HP: Autonomy overstated 2010 profits, cuts them by 81 PER CENT

HP has filed at the UK's Companies House the results of an audit of the 2010 financial results of two of Autonomy's eight divisions, which says that the UK software firm's revenues were actually just 54 per cent of its initially stated figure, and that their profit figure for the year needs to be cut by a whopping 81 per cent. " …
Iain Thomson, 04 Feb 2014

Arrow: global macro still 'unsettled" as profits dip

Just when you thought it was safe to mouth the words distributor and expanding profits in the same breath, Arrow Electronics has rolled out financials for calendar Q3 that show some bottom line slippage. The numbers for the three months ended September weren't bad per se, but after CEO Michael Long said last quarter that "large …
Paul Kunert, 30 Oct 2013

Northamber grabs ladder, claims PC market burning

Northamber's colourful chairman is forecasting a "more worthwhile future" - one that is less dependent on tech hardware - but the latest financials still bear the scorch-marks of attempts put out its burning PC biz. The UK's oldest tech wholesaler has been rather more quiet since listing on AIM, which means the company no longer …
Paul Kunert, 07 Mar 2014
HP cloud

HP rides data center growth out of sludgy IT market

HP has reported better than expected financial results on the back of strong server sales and – unexpectedly – good performance in the struggling PC market. The IT company reported an earnings-per-share of $0.90 and a net revenue of $28.2 billion on Thursday for its first fiscal quarter results, beating analyst expectations of $ …
Jack Clark, 20 Feb 2014
wall_street

Apple blows past (most) Wall Street moneymen's expectations

After Apple announced its new iPad Air and iPad mini with Retina display last October, CEO Tim Cook offered the hopeful opinion that "it's going to be an iPad Christmas." Turns out his hopes were fulfilled. Apple has announced its financial results for the first quarter of its fiscal 2014 – which happens to coincide with the …
Rik Myslewski, 27 Jan 2014

Intrinsic now on third CEO in less than two years

British IT and unified comms reseller Intrinsic Technology has welcomed on board its third chief executive in less than 18 months, with channel veteran Darron Antill the latest to fill the hot seat. Intrinsic went through a management buy-out in summer 2011 led by then-CEO Mike Mason. He headed for the exit the following March, …
Paul Kunert, 26 Sep 2013
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Shape-shifting box shifter Systemax made cash... from non-IT kit

A write-off of deferred tax assets helped to widen losses at ailing Systemax during Q4 as the tanking consumer biz in North America more than offset sales growth in the Industrial Products division. It was an eventful end to another eventful year for the shrinking reseller, with turnover in the final three months of 2013 down 7. …
Paul Kunert, 05 Mar 2014
John Chambers at the World Economic Forum 2010

BIG trouble in BIG China: Cisco shares fall off a cliff as CEO warns of slump

Cisco's shares slumped ten per cent in after-hours trading on Wednesday after the networking kingpin copped to terrible performance in emerging markets. The hardware giant squeezed $2.9bn in net income (up 11.6 per cent year on year) out of revenues of $12.1bn (up 1.8 per cent) in the third quarter of 2013. The company beat Wall …
Jack Clark, 13 Nov 2013
The Register breaking news

LOL: Twitter faces fines for late UK financial filings

Twitter UK Ltd faces an embarrassing fine of £375 after failing to file its latest company accounts on time. Twitter-owned British subsidiary Tweetdeck is also late on turning in its financials and also faces a penalty. Companies House, which maintains the official register of businesses in the UK, expects annual summaries of …
Anna Leach, 10 Dec 2012

NBN Co reports smaller-than-expected loss

NBN Co, the company formerly tasked with building a national fibre-to-the-premises network for Australia, has delivered its 2013 financials. It's no particular surprise that the organisation has reported a loss for 2012-2013, since its first forecast profit even under the former government's plan was to be delivered in 2019. The …
The Register breaking news

Mobo monster Vodafone takes £6bn kick down south

Vodafone lost almost half-a-billion quid in the six months to November, its half-year results reveal, but it also had to write down £6bn from the value of its operations in southern Europe. The US is doing OK, and Vodafone will get a dividend payment from Verizon Communications (of which it owns 45 per cent) of £2.4bn, but …
Bill Ray, 13 Nov 2012
Avnet TS

Avnet CEO: Sales flat, profit down... but 'outlook' is better

Avnet's CEO says the distributor is moving in the right direction after reporting fiscal Q2 numbers that were dramatically better than the opening three months of its new financial year. Sales came in essentially flat on a year ago period at $6.7bn but contain the financials of four firms acquired in October and November …
Paul Kunert, 24 Jan 2013

Players, insert coin: PlayStation 4, Xbox One top up AMD's coffers

AMD's provision of processors for Microsoft's Xbox One and Sony's PlayStation 4 consoles appear to have worked its magic on the chip maker's bottom line. The company's revenue for its fourth quarter of 2013 came in just above analysts' estimates, and significantly above its earnings for the same quarter in its previous fiscal …
Rik Myslewski, 21 Jan 2014
management consumerisation

Comparex posts single-digit margin returns for fiscal '13

Slogging it out in the licensing sales game is a tough business. Scale is a requisite to compensate for thinning margins, and vendors are constantly chopping away at back-end fees. Microsoft large account reseller (LAR) Comparex typifies the challenge facing software resellers, and the net margin strain can be seen in their …
Paul Kunert, 11 Jun 2013
channel

Satyam financials detail £1bn in dodgy transactions

Satyam today issued its first results since becoming engulfed in an accounting scandal early last year that almost broke the Indian services firm. The scandal erupted when B Ramalinga Raju resigned in January 2009, after writing an extraordinary letter to directors admitting inflating profits at the firm by almost a billion …
Joe Fay, 29 Sep 2010

Allied Telesis terminates Northamber contract

Veteran distributor Northamber has been given the boot by Allied Telesis because it failed to do the numbers, The Channel's sources have claimed. Northamber's marching orders came last Friday, giving the distie 60 days to sell off the remainder of stock held at its warehouse in Weybridge. The typical process is for a 90 day …
Paul Kunert, 10 Jul 2013