January 30, 2003
Gateway posts 8th loss in nine quarters
My spin: I'd really like to know what CAN Gateway to do start making money or at least break even and not lose money...anyone care to answer?
POWAY, Calif. (Reuters) - Gateway Inc. Wednesday reported its eighth quarterly loss in nine quarters as the No. 3 U.S. personal-computer maker reeled from stiff competition, a weak economy and slack technology demand.
Gateway, based in Poway, California, reported a fourth-quarter loss of $72 million, or 22 cents a share, compared with year-ago net income of $9.4 million, or 3 cents a share. Revenue fell to $1.06 billion from $1.14 billion.
Analysts had forecast a loss of 19 cents a share on revenue of $1.06 billion, according to tracking firm Multex.(full story)
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