October 29, 2004
Gateway: It's getting better thanks to Dr. eMachines
If like me, at times you wondered if Gateway is going to die soon - don't hold your breath. Gateway appears to be getting better, and credit goes to its new management and purchase of eMachines.
Washington Post writes Gateway Inc. reported a narrowed net loss in the first quarter as it continues to restructure its operations and integrate its acquisition of eMachines. Still, the personal computer and electronics company posted a tiny operating profit -- its first in nearly three years.
Gateway reported a net loss of $59.3 million, or 16 cents a share during the three months ended Sept. 30, compared to a loss of $138.9 million, or 43 cents a share, the same period last year. The latest period included restructuring charges of $63 million.
Excluding the charges, Gateway earned $4 million, or 1 cent per share, its first operational profit since the fourth quarter of 2001.
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