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HP NZ reports $27m loss

Another revenue drop has hit Hewlett-Packard New Zealand for the 2011-year ended October 31, reporting an annual loss of $27 million.

In 2010, the company lost $10 million.

Revenue fell to $736 million for the 2011 fiscal year, from 2010’s $816 million.

Comment from the computer manufacturer’s New Zealand subsidiary could not be retrieved due to the company’s “HP disclosure policy”.

The company’s wage bill for the 2011 year has fallen $17.4 million to a total of $149.9 million.

In September of 2011, HP tossed plans to build a $60 million data centre in Tuakau.

The move came on the heels of the company missing out on an all-of-government data centre supplier panel, whose members will supply cloud computing-related services to government departments and agencies.

Comments and questions

Poor HP NZ, lets go and sell more printers. You obviously don't know how to sell IT.

yeah right they made a loss - it's all about the tax write-offs

Currently it's only Revera & Datacom on the all-of-government infrastructure-as-a-service panel. Gen-i missed the final cut and IBM are still in negotiations.

tax avoidance at its finest

HP has fallen from a tech leader company to a mere manufacturer. Oh yep they have a "nearshore" software house in chch, but the salaries there are not that high, how can you attract best talents with a lower salary?

until NZ starts to train and value people as its key resource we're at rthe mercy of uncaring corporates whose primary loyalties are to their coporate headquarters. How many architects, accountants and fancy pants marketers does a third world country need?