HOUSTON -- Compaq posted a strong net gain of $387 million on sales of $10.1 billion for the second quarter putting behind a poor showing during the same period last year when it lost $184 million.
Compaq cited healthy sales of Internet servers and commercial PCs as the primary reason for the quarter's success, which outpaced Wall Street's expectations.
"We are pleased with our progress to date,'' Michael Capellas, Compaq's president and CEO, said in a statement. "Industry standard revenue grew by 40 percent, while our commercial PC business returned to profitability an hour ahead of time.''
Compaq is projecting double-digit growth for the balance of the year.