EDS, an HP Company, Becoming HP Enterprise Services
The name change marks the next major step in a year-long integration of EDS into HP and emphasizes the growing global role of enterprise technology services in HP’s portfolio.
“Our clients expect us to harness the full power of HP’s portfolio to solve their business challenges,” said Joe Eazor, senior vice president and general manager, HP Enterprise Services. “Today we are combining the strong services brand equity that EDS has built over the last 47 years with HP’s technology leadership to become the leading IT services provider. We will continue to deliver the same service excellence that our clients have come to expect.”
To reflect the positive impact the EDS acquisition has made in expanding the breadth and depth of HP capabilities, the Technology Solutions Group will be renamed the HP Enterprise Business. This group is focused on business and government organizations of all sizes. In addition to enterprise services, its portfolio includes servers, storage, software, networking and technology services.
During the third quarter of fiscal year 2009, the HP Enterprise Business accounted for 47 percent of the company’s revenue and 60 percent of its non-GAAP operating profit.(1) All HP Enterprise Business units will continue to report to Ann Livermore, executive vice president of HP.
“Customers are facing tough challenges in their technology environments,” said Livermore. “Challenges such as a rigid infrastructure, increasing applications and information complexity are restricting the speed in which IT can add value to the business. HP is the best at helping customers manage and transform their technology environments to deliver better business outcomes.”
HP, the world’s largest technology company, simplifies the technology experience for consumers and businesses with a portfolio that spans printing, personal computing, software, services and IT infrastructure. More information about HP (NYSE: HPQ) is available at http://www.hp.com/.
(1) Q309 GAAP operating profit was $2.17 billion. Q309 non-GAAP operating profit was $2.97 billion. Q309 non-GAAP operating profit excludes $800 million of adjustments on a pre-tax basis related primarily to the amortization of purchased intangible assets, restructuring charges and acquisition-related charges. HP’s management uses non-GAAP operating profit to evaluate and forecast HP’s performance before gains, losses or other charges that are considered by HP’s management to be outside of HP’s core business segment operating results. HP believes that presenting non-GAAP operating profit in addition to GAAP operating profit provides investors with greater transparency to the information used by HP’s management in its financial and operational decision making. HP further believes that providing this additional non-GAAP information helps investors understand HP’s operating performance and evaluate the efficacy of the methodology and information used by management to evaluate and measure such performance. This additional non-GAAP information is not intended to be considered in isolation or as a substitute for GAAP operating profit.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2009 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2008. HP assumes no obligation and does not intend to update these forward-looking statements.
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HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. With the broadest technology portfolio spanning printing, personal systems, software, services and IT infrastructure, HP delivers solutions for customers’ most complex challenges in every region of the world. More information about HP (NYSE: HPQ) is available at http://www.hp.com