1、Annual Report2008Fiscal 2008 was a strong year with some notableaccomplishments.We have prepared HP to performwell and are building a company that can delivermeaningful value to our customers and stockholdersfor the long term.Looking ahead,it is important toseparate 2008 from 2009,and acknowledge th
2、edifficult economic landscape.While we have mademuch progress,there is still much work to do.2008Solid Progress and Performance in a ToughEnvironmentWith the acquisition of Electronic Data SystemsCorporation(EDS),we continued implementing amulti-year strategy to create the worlds leadingtechnology c
3、ompany.Additionally,we made solidprogress on a number of core initiatives,includingthe substantial completion of phase one of HPsinformation technology transformation.Fiscal 2008 was also a difficult year,during whicheconomic conditions deteriorated.HP proved ourability to execute in a tough environ
4、ment.In 2008,HP delivered:Net revenue growth of 13 percent,or 8 percent inconstant currency,to$1 18.4 billion GAAP operating profit of$10.5 billion GAAP diluted EPS of$3.25,up from$2.68 in theprior year Non-GAAP operating profit of$1 1.8 billion*Non-GAAP diluted EPS of$3.62,up from$2.93in the prior
5、year*HP gained share in key segments,while continuingto show discipline in our pricing and promotions.Software,services,notebooks,blades and storageeach posted double-digit revenue growth,highlighting both our market-leading technology andimproved execution.Technology Services showedparticular stren
6、gth with double-digit growth inrevenue for the year and improved profitability.The EDS AcquisitionDisciplined Execution of aMulti-year StrategyIn August,HP completed its acquisition of EDS,aglobal technology services,outsourcing andconsulting leader,for a purchase price of$13billion.The EDS integrat