Joke from HP

HP is trying to give the market a positive spin here. Looks like a joke. Fooling around with GAAP and non-GAAP numbers. Doubt they can say anything certain about 2009. http://www.hp.com/hpinfo/newsroom/press/2008/081118a.html

In the fourth quarter, preliminary GAAP and non-GAAP diluted earnings per share (EPS) were $0.84 and $1.03, respectively. Non-GAAP EPS estimates exclude after-tax adjustments related to amortization of purchased intangibles, restructuring, in-process R&D and other acquisition-related charges of approximately $0.19 per share.

For the full fiscal year 2009, HP expects revenue of approximately $127.5 billion to $130.0 billion, GAAP diluted EPS in the range of $3.38 to $3.53, and non-GAAP diluted EPS in the range of $3.88 to $4.03. FY09 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $0.50 per share, related primarily to the amortization of purchased intangibles.