Fiscal year 2012 marked the best financial performance in our history. Revenue was $62.1 billion, up one percent from fiscal year 11, and gross margin dollars, operating income and earnings per share rose to record levels. Our enterprise solutions and services business, a bellwether for execution of our strategy, grew six percent to $18.6 billion, and was nearly 30 percent of revenue and almost half of gross margin dollars. Services revenue was up 8 percent, with 75 percent growth year-over-year in new contract signings.
GAAP operating income climbed 29 percent to $4.4 billion, or 7.1 percent of revenue, and non-GAAP operating income rose 24 percent to $5.1 billion, or 8.3 percent of revenue. We delivered GAAP EPS of $1.88, an increase of 39 percent, and non-GAAP EPS of $2.13, up 34 percent. Cash flow from operations grew 39 percent to $5.5 billion, and we finished the year with $18.2 billion in cash and investments.
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TODAY's announcement that Dell is going private, for $24.4B, is a 'sad denouement" for the number 3 PC maker
Lesse now, they just fell from 12.5% to 10.0% of PC share last quarter ("Best Financial Performance in Our History?". And their stock was down to $9.13 in November, which gave them a market cap of $16B for a $62B revenue company. Hummn, just about the same ratio at HP toady, at $120B rev and $32.4B market cap.
So, if your're looking for analogous situations to HP's poor performance, this one qualifies. But up to 30% now for Dell in "enterprise services" -- isn't that the bet being placed by Meg and team? It surely cannot be tablets.
Chuck House, shown here with son Warren, is co-author with Raymond Price, of THE HP PHENOMENON: INNOVATION and BUSINESS TRANSFORMATION (2009, Stanford University Press). He is Exec Director of InnovaScapes Institute, which published his memoir of HP Colorado Springs, PERMISSION DENIED, in 2013. House, Chancellor Emeritus of Cogswell Polytechnical College, was also executive director of Media X, Stanford University's research program on innovation, media and technology. Previously director of Intel Corporation’s Virtual Collaboratory, EVP R/D at Dialogic, President of Spectron Microsystems, SVP at Veritas Software and Informix Software after 29 years at Hewlett-Packard in a wide variety of roles. An IEEE Fellow for Logic Analysis technology, he also was President of ACM, the world’s largest Computer Science society, and is an ACM Fellow. He holds HPs only Medal of Defiance, awarded by David Packard for "extraordinary contempt and defiance beyond the normal call of engineering duty". Other awards include Engineer of the Year, Smithsonian Wizard of Computing, Top 50 inventions of 20th century, CNN top 25 inventions of past 25 years, Intrapreneuring Honor Roll