Compaq Computer Corp.Compaq Computer Corp., one of the...


April 22, 1993

Compaq Computer Corp.

Compaq Computer Corp., one of the nation's leading personal computer companies, said yesterday that first-quarter earnings more than doubled on record sales.

The Houston-based company said first-quarter earnings totaled $102 million, or $1.23 a share, vs. earnings of $45 million, or 53 cents a share, a year earlier.

Eckhard Pfeiffer, president and chief executive officer, said sales reached a record $1.6 billion for the quarter, compared with $783 million in sales reported in the first quarter of 1992.

At the same time, Compaq pushed down operating expenses.


AT&T, enjoying a jump in long distance business, reported yesterday that its first-quarter profit rose by 12 percent before a special $7 billion charge to comply with new accounting rules.

That charge dropped AT&T to a net loss of $5.6 billion, or $4.19 per share, for the three-month period that ended March 31. It compared with net income of $883 million, or 67 cents per share, for the first quarter of 1992.

AMR Corp.

A smaller-than-expected loss from American Airlines' parent company was greeted as encouraging news for the whole industry yesterday and set off a rally in the prices of airline stocks.

AMR Corp. reported a $22 million loss in the first quarter. Although it compared with a slim profit the company had before an accounting rule change a year ago, the loss wasn't as bad as had been expected by company officials and Wall Street.

The loss represented 43 cents per share on revenue of $3.81 billion in the three months ending March 31. A year ago, the company lost $452 million, or $6.15 per share, in the quarter.

That includes a $595 million charge for complying with an accounting rule change covering retiree health benefits.

B6 Revenue in the year-ago quarter was $3.51 billion.

McDonnell Douglas Corp.

The St. Louis-based defense contractor earned $216 million, or $5.51 per share, in the quarter in contrast to a loss of $1.5 billion, or $39.29 per share, a year earlier.

Revenue fell 10 percent to $3.6 billion from $4 billion a year ago.

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