HP INC — Proxy Solicitation & Information Statement 2002

Feb 27, 2002

DFRN14A 1 f77503k3dfrn14a.htm DFRN14A Amendment 1 Walter B. Hewlett Soliciting Materials PAGEBREAK

SCHEDULE 14A (RULE 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)

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HEWLETT-PACKARD COMPANY

(Name of Registrant as Specified In Its Charter)

WALTER B. HEWLETT, EDWIN E. VAN BRONKHORST AND THE WILLIAM R. HEWLETT REVOCABLE TRUST

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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[Explanatory Note: this filing amends the Schedule 14A filed on 2/26/02 (entitled “The Case Against the HP/Compaq Merger”) to revise p. 20 of the filing so it reads in its entirety as follows.]

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1	Includes Microsoft, Intel, HP, Compaq, Dell, IBM, and Gateway.
2	Compaq: Data includes all PCs, handhelds and workstations. Historical
operating profit from Company filings and 1/28/02 Deutsche Bank research.
2002 projections for 1/28/02 Deutsche Bank research. HP: Data includes PCs
for 1998-2000 and PC plus handhelds for 2001-2002. Historical operating
profit from 10/2/01 Morgan Stanley research; projected 2002 values are from
2/13/02 Banc of America Securities research. IBM: Historical operating
profit from company reports. 2002 projections from 11/1/01 Morgan Stanley
research. Gateway: Operating profit from 4/7/00, 7/20/01, and 1/25/02 and
Morgan Stanley research.
3	Dell: Operating profit margin for entire company from Dell website and
11/23/98, 10/18/99, 8/11/00, and 1/22/02 Morgan Stanley research. Total
company operating profit margin applied to PC only revenue to find operating
profit by year.
4	Microsoft: 1998-2001 operating margins for PC-related software and services
based on company 10-K filings. Operating margins applied to reported revenue
for Desktop applications and platforms.
5	Intel: 1998-2001 operating margins based on Intel Architecture Group
operating margins from company filings and 1/15/02 press release. Margins
applied to estimated desktop-specific revenue in 10/17/01 CIBC World Markets
report. 2002 projection based on overall Intel revenue and operating profit
growth from 1/16/02 Morgan Stanley research, applied to current estimated
Intel revenue and operating profit in desktops.

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