Gateway has warned of weaker than expected fourth-quarter financial results. The US-based company has revealed it is expecting turnover and earnings per share for the quarter ended 31 December to be "significantly lower than Wall Street estimates".
Gateway, which was founded in 1985, has direct and indirect routes to market. Turnover was forecast in the region of $2.6bn for the fourth quarter - equal to the same period last year, but $500m below previous estimates.
The company also revealed it will be taking a one-time charge of $200m related to the write-down of its investments in technology-based companies and other assets.
An industry source said Gateway would consider some form of cost-cutting in the future, but the announcement should not have a major impact on UK business. "Shares in Gateway have gone through the floor," the source said, adding that the industry is experiencing a "ropey year".
Despite the poor results, John Todd, the company's chief financial officer, said Gateway is expecting turnover to continue increasing. "It is obvious that [following the Thanksgiving weekend] the figures will not grow sufficiently to allow us to meet previous consensus for earnings per share and guidance for turnover," he said.
The economic slowdown, coupled with "ongoing shifts in PC seasonality", has had a significant impact on sales, he claimed. "We expect these issues will continue to have an effect on overall demand over the next 12 to 18 months," he added.
Jeff Weitzen, chief executive at Gateway, said the company is "confident of being on the right track", and will continue distancing itself from traditional competitors. "We are also well positioned to benefit from the convergence of broadband access, content, communication and devices," he added.
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