Menu
18/01/2002
IT sector reports fourth quarter slump
The IT industry endured its worst year ever in 2001 in terms of retail sales worldwide.
The assessment comes as various firms reveal fourth quarter results which reflect the difficult conditions the sector is currently experiencing.
IMB revealed a profit loss – the second successive quarterly decline for the company – with revenues falling to $22.8 billion. IBM chief executive Louis Gerstner expressed his hopes for in increase in business performance for the year ahead, but acknowledged that “conditions remain difficult”.
Nortel too have borne the brunt of recent economic uncertainty, unveiling net fourth quarter losses of $1.8 billion – predicting a further 10 per cent reduction in revenue for the three months ahead.
Microsoft posted a net profit of $2.28 million for the same period, due to the launch of three products, including Windows XP and the company’s Xbox games console. Weathering the sting of a $660 million charge to settle its long-running lawsuit disputes, the company has moved to diversify its product base, but could still feel the effects of the financial slowdown in the quarter ahead, as the Xbox could take several years before it starts making money for Mircosoft.
Only PC maker Dell escaped the downward trend, boasting increased sales and market share. (CL)
The assessment comes as various firms reveal fourth quarter results which reflect the difficult conditions the sector is currently experiencing.
IMB revealed a profit loss – the second successive quarterly decline for the company – with revenues falling to $22.8 billion. IBM chief executive Louis Gerstner expressed his hopes for in increase in business performance for the year ahead, but acknowledged that “conditions remain difficult”.
Nortel too have borne the brunt of recent economic uncertainty, unveiling net fourth quarter losses of $1.8 billion – predicting a further 10 per cent reduction in revenue for the three months ahead.
Microsoft posted a net profit of $2.28 million for the same period, due to the launch of three products, including Windows XP and the company’s Xbox games console. Weathering the sting of a $660 million charge to settle its long-running lawsuit disputes, the company has moved to diversify its product base, but could still feel the effects of the financial slowdown in the quarter ahead, as the Xbox could take several years before it starts making money for Mircosoft.
Only PC maker Dell escaped the downward trend, boasting increased sales and market share. (CL)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
27 April 2011
Economic Recovery 'Slow'
Gross Domestic Product, (GDP) only grew modestly at the start of the year - but making it likely that the Bank of England will keep interest rates at record lows for some months. The faltering construction industry - across all of the UK - is hindering economy recovery with GDP expanded by only 0.
Economic Recovery 'Slow'
Gross Domestic Product, (GDP) only grew modestly at the start of the year - but making it likely that the Bank of England will keep interest rates at record lows for some months. The faltering construction industry - across all of the UK - is hindering economy recovery with GDP expanded by only 0.
16 January 2002
Intel reports profit loss for fourth quarter
Semiconductor manufacturer Intel has reported plummeting profits, which could see the company cut capital investment by almost 25 per cent during the coming year. Fourth quarter results from the firm saw profits down by 77 per cent on the same time last year, standing at $504m.
Intel reports profit loss for fourth quarter
Semiconductor manufacturer Intel has reported plummeting profits, which could see the company cut capital investment by almost 25 per cent during the coming year. Fourth quarter results from the firm saw profits down by 77 per cent on the same time last year, standing at $504m.
29 April 2016
Danske Bank Reveals £35m Pre-Tax Profit In First Quarter Of 2016
Danske Bank has reported pre-tax profits of £35 million for the first quarter of 2016. The bank said that the figures revealed in the report continues the upward profitability trajectory reflecting a combination of improved revenue performance, ongoing cost control and impairment recoveries.
Danske Bank Reveals £35m Pre-Tax Profit In First Quarter Of 2016
Danske Bank has reported pre-tax profits of £35 million for the first quarter of 2016. The bank said that the figures revealed in the report continues the upward profitability trajectory reflecting a combination of improved revenue performance, ongoing cost control and impairment recoveries.
12 January 2016
Council To Host Consultation Over Future Development Of Linen Quarter Area
Belfast City Council is urging the public to put forward their opinions about the the future development of the Linen Quarter area in Belfast. The Council is holding a public consultation exercise which will run from this month until Friday 11 March.
Council To Host Consultation Over Future Development Of Linen Quarter Area
Belfast City Council is urging the public to put forward their opinions about the the future development of the Linen Quarter area in Belfast. The Council is holding a public consultation exercise which will run from this month until Friday 11 March.
05 August 2011
Slight Sales Rise In Subdued Housing Market
The most comprehensive survey of residential property in Northern Ireland has produced evidence of a slight growth in demand within the local housing market in the second quarter of 2011. However, it also showed that overall price levels remain subdued.
Slight Sales Rise In Subdued Housing Market
The most comprehensive survey of residential property in Northern Ireland has produced evidence of a slight growth in demand within the local housing market in the second quarter of 2011. However, it also showed that overall price levels remain subdued.
-
Northern Ireland WeatherToday:A very mild, but mostly cloudy day, although with some bright or sunny spells. It will be mostly dry in the morning, but a little patchy light rain or drizzle at times in the afternoon. Maximum temperature 14 °C.Tonight:A band of heavier rain will move east during the evening before clearing eastwards after midnight. then mostly dry through the early hours, but a little rain towards dawn. Minimum temperature 8 °C.
