Enache, HP: Q1 was better, but signs of recovery are still tentative

Hewlett-Packard (HP) Romania, one of the leading players on the Romanian IT market, recorded higher sales in November 2009 - January 2010 (first quarter of HP's fiscal year) than in the year-ago period and 14% above forecasts, but full-year estimates remain cautious, says Radu Enache, the company's general manager.
"The first quarter was not bad, we posted 14% higher sales than forecast. Revenues were higher against last year," said Enache. "But the market is difficult because there is no money, and signs of recovery in the private sector are tentative," he added.
The local subsidiary of the world's biggest IT company is one of the biggest players in Romania on the PC, printers, servers and IT services markets. Last year sales of PCs, servers, and printers saw steep declines in the context of the recession, so HP was hit full on by the crisis, says the head of HP Romania. Now, on the other hand, the company is ready to take advantage of a prospective market rebound. "HP did not make any people redundant last year so now we are ready to provide solutions to our clients. We have the necessary staff, products, we can finance projects," Radu Enache says.