twice connect

Gateway Posts Q2 $7.7 million Net Loss

8/04/2006 12:00:00 PM Eastern

Irvine, Calif. — Gateway executives pointed to across the board weakness to explain the company’s $7.7 million loss for its second quarter, ended June 30, even though overall sales rose 5 percent to $919 million.

The second-quarter loss was an improvement, compared with the $12.3 million loss the company experienced during its 2006 first quarter, but during the same period in 2005 Gateway showed a profit of $17.2 million.

Gateway’s chairman and interim CEO Rick Snyder labeled the second-quarter performance “disappointing,” but said strategic changes put into effect during the first quarter are starting to have a positive impact. When these earlier changes are combined with new initiatives in marketing, manufacturing and tech support which are expected to come online during the second half, the company’s performance should improve, he said.

Gateway sold 1.2 million PCs during the quarter, a 16 percent increase compared with the same time last year, but down 15 percent from the first quarter. The year over year increase was due to U.S. market-share gains.

Ultra HD OLED TVs In IFA Spotlight

At IFA, all Ultra HD makers are quickly expanding

Jack Wayman, the Father Of International CES

Tributes continue to pour in for Jack Wayman, who

Nationwide PrimeTime 2014

Scenes from Nationwide PrimeTime buy fair held in

ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer