Hewlett-Packardon Separation Conference Call- Capital return to be weighted toward share repruchases
- Co says capital return will be weighted toward share repurchasing and high dividends; says sum of dividend payments will be equal to what HPQ pays today... transaction will be tax free.
- expect 2015 charge linked to prior announced headcount reduction.
- expect one-time GAAP only charges related to separation, including upcoming Q4.
- Continue to have material non-public information that will not be finished until Q4 and keep the co from doing repurchases at the moment.
- Says at next opportunity it will announce a repurchase plan that will make up for the current shortfall.
- Expect revenue flat y/y; expect 2 point currency headwind to as reported revenue.
- Says hardware environment remains tough on pricing.
- Expect margins to increase y/y