While we did see some strengthening of the IT market in the fourth quarter, first-half growth will be moderate and pent-up demand should drive a stronger recovery in the second half of the year,
We see continued weakness in the U.S. economy, and resultant pricing pressures, ... Despite the slowdown, we are pleased with market acceptance of our enterprise products driven by our ability to offer end-to-end solutions and services.
Although this is lower than our previous guidance, it still reflects strong year-over-year improvement, ... I remain very confident in the long-term strength of the information technology market and in Compaq's ability to be one of the clear leaders.
It's hardly news to anyone now that the North American market is tough. Business activity in the rest of the world remains on track.
In the short term, the market remains volatile and thus difficult to predict with much certainty, ... However, we expect third quarter revenue to be in the range of $8 billion to $8.4 billion ... and earnings per share of 7 cents to 9 cents.