Gateway turns in profit

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Gateway turns in profit

Gateway, the No. 3 PC manufacturer, reported a profit of $17.2 million, or 5 cents a share, compared with a loss of $339 million, or 91 cents a share, a year ago. Chief Financial Officer Rod Sherwood said during a media conference call that, excluding one-time items, the company earned 3 cents a share.

Analysts surveyed by Thomson First Call had forecast Gateway would earn 2 cents a share

Revenue rose to $873 million from $838 million as the company shipped more than 1 million PCs during the quarter, a 27 percent increase over a year ago.

Read the complete story. (Gateway)