Hewlett-Packard Co warns that its second quarter figures to April 30, due to be announced tomorrow, will be below analysts’ expectations, with net earnings per share in the 85 to 90 cents range against analysts expectations of about $1.00 and the 82 cents the company recorded for the first quarter: Hewlett says that product orders for the period continue to look good, but preliminary revenue numbers behind expectations relative to orders, because the mix differed from what the company had planned and it was unable to adjust production schedules quickly enough to accommodate the change; we also experienced greater than expected pressures on gross margins and higher trade discounts, due in part to the continuing shift in the mix of sales through dealers and other resellers versus direct-to customer sales, said Hewlett president John Young.
