47217--12/18/2008--HEWLETT_PACKARD

related topics

{product, market, service}

{operation, international, foreign}

{customer, product, revenue}

{personnel, key, retain}

{cost, operation, labor}

{system, service, information}

{operation, natural, condition}

{acquisition, growth, future}

{regulation, change, law}

{stock, price, operating}

{loss, insurance, financial}

{regulation, government, change}

{property, intellectual, protect}

{provision, law, control}

{cost, regulation, environmental}

The competitive pressures we face could harm our revenue, gross margin and prospects. If we cannot continue to develop, manufacture and market products and services that meet customer requirements for innovation and quality, our revenue and gross margin may suffer. If we do not effectively manage our product and services transitions, our revenue may suffer. Our revenue, cost of sales, and expenses may suffer if we cannot continue to license or enforce the intellectual property rights on which our businesses depend or if third parties assert that we violate their intellectual property rights. Economic conditions and uncertainty could adversely affect our revenue, gross margin and expenses. Due to the international nature of our business, political or economic changes or other factors could harm our future revenue, costs and expenses and financial condition. Terrorist acts, conflicts and wars may seriously harm our business and revenue, costs and expenses and financial condition and stock price. Business disruptions could seriously harm our future revenue and financial condition and increase our costs and expenses. If we fail to manage the distribution of our products and services properly, our revenue, gross margin and profitability could suffer. We depend on third-party suppliers, and our revenue and gross margin could suffer if we fail to manage suppliers properly. Our revenue and profitability could suffer if we do not manage the risks associated with our IT services business properly. If we fail to comply with our customer contracts or government contracting regulations, our revenue could suffer. The revenue and profitability of our operations have historically varied, which makes our future financial results less predictable. We make estimates and assumptions in connection with the preparation of HP's Consolidated Financial Statements, and any changes to those estimates and assumptions could have a material adverse effect on our results of operations. Unanticipated changes in HP's tax provisions or exposure to additional income tax liabilities could affect our profitability. Our sales cycle makes planning and inventory management difficult and future financial results less predictable. Any failure by us to execute on our strategy for operational efficiency successfully could result in total costs and expenses that are greater than expected. In order to be successful, we must attract, retain and motivate key employees, and failure to do so could seriously harm us. Changes to our compensation and benefit programs could adversely affect our ability to attract and retain employees. HP's stock price has historically fluctuated and may continue to fluctuate, which may make future prices of HP's stock difficult to predict. System security risks and systems integration issues could disrupt our internal operations or information technology services provided to customers, and any such disruption could reduce our expected revenue, increase our expenses, damage our reputation and adversely affect our stock price. Any failure by us to identify, manage, complete and integrate acquisitions, divestitures and other significant transactions successfully could harm our financial results, business and prospects, and the costs, expenses and other financial and operational effects associated with managing, completing and integrating acquisitions may result in financial results that are different than expected. Unforeseen environmental costs could impact our future net earnings. Some anti-takeover provisions contained in our certificate of incorporation and bylaws, as well as provisions of Delaware law, could impair a takeover attempt.

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47217--12/18/2008--HEWLETT_PACKARD_CO