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Table 7			HP Consolidated							Nov-05
				(Fiscal year end: Oct 31)
			2005	% of	Change	2004	% of	Change	2003	% of
			($ Mill)	Rev	05/04	($ Mill)	Rev	04/03	($ Mill)	Rev
_	_	_	_	_	_	_	_	_	_	_
Revenue			100%			100%			100%
Business Segments (est)
	Eliminations		$1,140			$1,115			$716
Total Revenue			$86,696	0.0%	8.5%	$79,905	0.0%	9.4%	$73,061	0.0%
Before eliminations			$87,836			$81,020			$73,777
	4Q05 Actual		$23,236		6.9%	$21,740
Costs
Cost of Revenue			$63,350	72.1%	5.8%	$59,870	73.9%	11.1%	$53,900	73.1%
Unallocated Costs			$3,090			$941			($42)
Total Costs			$66,440	75.6%	9.3%	$60,811	75.1%	12.9%	$53,858	73.0%
Gross Profit/Margin			$20,256	23.4%	6.1%	$19,094	23.9%	-0.6%	$19,203	26.3%
Expenses						$11,718			$11,856
Sales, General & Marketing			$11,184	12.9%	6.6%	$10,496	13.1%	-11.5%	$11,856	16.2%
Restr. Charges									$800
Research & Development			$3,490	4.0%	-2.0%	$3,563	4.5%	-2.4%	$3,651	5.0%
Total Expenses			$14,674	16.9%	4.4%	$14,059	17.6%	-13.8%	$16,307	22.3%
						$3,506			$3,651
Operating Profit (Loss)			$5,582	6.4%	10.9%	$5,035	6.3%	73.9%	$2,896	4.0%
as reported						$5,035	6.3%	73.9%	$2,896	4.0%
	4Q05 Actual		$1,867	8.0%	16.0%	$1,609	7.4%
Other Income (Loss)			$83	0.1%	-337.1%	($35)	-0.0%	337.5%	($8)	-0.0%
Income (Loss) Before Tax			$5,665	6.5%	13.3%	$5,000	6.3%	73.1%	$2,888	4.0%
Income Tax (Benefit)			$957	16.9%		$933	16.7%		$349	12.1%
Net Income (Loss)			$4,708	5.4%	15.7%	$4,067	5.1%	60.2%	$2,539	3.5%
Earnings per share (basic)		2.88	1.64			1.41			0.88
				Pro Forma Valuation
		P/E Ratio	Rev Ratio	Market Cap (est.)			Spin-off	Actual
				P/E	Rev	Combined	Benefit	(11/17/05)
Industry Segment Avg		17.00	1.00	$80.04	$86.70	$83.37
HP Corporate Actual		27.72	0.95	$130.50	$82.36	$83.08		$83.08
HP Broken-up		15.85	0.86			$74.62	($8.46)	$74.62
	Source: Annex Research
_	_	_	_	_	_	_	_	_	_	_
ttm P/E		18.35