Thursday, January 30, 2003
Gateway Inc. reported a $72 million loss for its forth quarter due to weak holiday season sales and tough competition from Dell and HP. Fourth-quarter revenue was $1.06 billion, down from $1.14 billion a year earlier.
"We made steady improvements across our business through most of 2002, but the fourth quarter proved to be a challenge for us," founder and Chief Executive Ted Waitt said. "Even so, we did make progress in a couple of key areas in the quarter, and we're not about to let up in driving further improvements this year."
For the year, Gateway reported a net loss of $309 million, or 95 cents a share. In 2001, one-time charges brought Gateway to a loss of $1.03 billion, or $3.20 a share.
By: DocMemory
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