Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Gateway Posts Wider Quarterly Loss
Oct 24, 2003
 Printable format
 Email this Article
 Search

Gateway Inc. posted its 11th quarterly loss in three years as the company lost money in its core personal computer business and struggled to reinvent itself as a consumer electronics store that sells a broad range of products.

The company offered a forecast for the holiday sales-driven fourth quarter that was in line with cautiously more positive Wall Street expectations. But gross margins were hammered by pricing pressure in the PC market, rising component costs, and the cost of remodeling 185 of its Gateway retail stores.

Six months ago, Gateway co-founder, Chairman, and Chief Executive Ted Waitt announced the company's plan to become what he called a "branded integrator." Gateway has since expanded to sell digital cameras, plasma and flat-panel TVs, and digital home media centers, all integrated with its PCs.

Gateway, which said it has now introduced 72 products and services in 16 new categories, posted a net loss of U.S. $138.8 million, or $0.43 a share, compared with a year-ago net loss of $49.7 million, or $0.15 a share. Revenue fell to $883.1 million from $1.12 billion. Excluding restructuring charges and other expenses, Gateway said it made a loss of $66.1 million, or $0.20 a share.

Gateway said it sold 558,000 personal computers in the quarter, up 14 percent sequentially, but down 24 percent from a year earlier. It cited improved seasonal demand and its reentry into the low end of the PC market in early August for the sequential rise in PC sales. (AP)

Back to Daily News

 

Daily News

...........................................................

Nov 26, 2014: Hamilton Beach 3Q income down slightly

Nov 26, 2014: LG's sales of Inverter Linear Compressor refrigerators top 10 million

Nov 25, 2014: Robotics Exhibits Grow 25% at 2015 CES

Nov 25, 2014: Index shows HVAC/R contractors more positive than last year

Nov 25, 2014: Consumer Confidence Index Declines

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows