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HP Sees 1-2 Cent Hit From Patent Spat; Affirms Outlook

April 13, 2009
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

Hewlett-Packard (HPQ) on Friday announced that it will take a charge of 1-2 cents a share in its fiscal second quarter ending April related to a patent dispute with Cornell University and the Cornell Research Foundation. HP noted that on March 30 the U.S. District Court overseeing the case cut the amount of an early jury verdict in the case in favor of Cornell to $53 million from $184 million.

HP also said that “after a review of the preliminary financial results of the first two months this fiscal quarter,” its financial outlook–excluding the charge–remains unchanged.

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