Compaq Computer Corp chairman Ben Rosen looks for the worldwide personal-computer industry to grow by 15% to 20% in unit terms in the current quarter, and sees Compaq’s overall unit growth higher than the industry average. Speaking at the Mabon Nugent annual research conference in New York, he also said he expects Compaq’s net margins for the fourth quarter to be in a range of 8% to 10% against a historic level of around 12%, all of which means that Compaq is likely to record the first down quarter in its history. It did $2.18 a share in the 1988 fourth quarter, and analysts are currently looking for $1.50 to $1.80 a share this time. Rosen attributed the lower-than-expected fourth-quarter margin outlook to costs associated with new product rollouts and a lack of concomitant revenues from the new products. He is optimistic about 1990 and believes the personal computer industry will continue to be a growth industry, although the 1990 worldwide growth rate is expected to be slower by four to five points from 1989. Rosen expects Compaq’s European market to grow faster than the North American market in the fourth quarter, seeing 8% to 12% unit growth in the US, 20% to 30% in Europe, 15% to 30% in the rest of the world.
