Table 7			HP Consolidated							Nov-06
				(Fiscal year end: Oct 31)
			2006e	% of	Change	2005	% of	Change	2004	% of
			($ Mill)	Rev	05/04	($ Mill)	Rev	04/03	($ Mill)	Rev
Revenue
Business Segments (est)
	Eliminations		$629			$1,169			$1,141
Total Revenue			$91,658	0.0%	5.7%	$86,696	0.0%	8.5%	$79,905	0.0%
Before eliminations			$92,287			$87,865			$81,046
	4Q06 Actual		$24,910		7.2%	$23,236
Costs
Cost of Revenue			$67,700	73.4%	6.8%	$63,370	72.1%	5.8%	$59,890	73.9%
Unallocated Costs						$3,070			$921
Total Costs			$67,700	73.4%	1.9%	$66,440	75.6%	9.3%	$60,811	75.0%
Gross Profit/Margin			$23,958	26.1%	18.3%	$20,256	23.4%	6.1%	$19,094	23.9%
Expenses
Sales, General & Marketing			$12,722	13.9%	13.8%	$11,184	12.9%	6.6%	$10,496	13.1%
Restr. & Other Charges						$2,109			$808
Research & Development			$3,793	4.1%	8.7%	$3,490	4.0%	-2.0%	$3,563	4.5%
Total Expenses			$16,515	18.0%	-1.6%	$16,783	19.4%	12.9%	$14,867	18.6%
Operating Profit (Loss)			$7,443	8.1%	114.3%	$3,473	4.0%	-17.8%	$4,227	5.3%
as reported						$3,473	4.0%	-17.8%	$4,227	5.3%
	4Q06 Actual		$1,998	8.0%	34.2%	$1,489	6.4%
Other Income (Loss)			$83	0.1%	18.6%	$70	0.1%	-325.8%	($31)	-0.0%
Income (Loss) Before Tax			$7,526	8.2%	112.4%	$3,543	4.1%	-15.6%	$4,196	5.3%
Income Tax (Benefit)			$1,206	16.0%		$1,145	16.7%		$699	12.1%
Net Income (Loss)			$6,320	6.9%	163.6%	$2,398	2.8%	-31.4%	$3,497	4.4%
# shares (basic)			2.74			2.88			3.02
Earnings per share (basic)			$2.31		176.9%	$0.83			$1.16
				Pro Forma Valuation
		P/E Ratio	Rev Ratio	Market Cap (est.)			Spin-off	Actual
					Rev	Combined	Benefit	(11/16/06)
Industry Segment Avg		17.00	1.00	$220,215	$91.66	$110,153
HP Corporate Actual		23.46	1.22	$148.26	$111.82	$101.42		$100.69
HP Broken-up		15.58	1.07			$98.45	($2.96)
	Source: Annex Research