HP Files Appeal in Patent Dispute with Cornell University
PALO ALTO, Calif., HP announced that it has filed an appeal in its patent dispute with Cornell University and the Cornell Research Foundation (“Cornell”).
On March 30, 2009, the U.S. District Court issued several post-trial decisions reducing the amount of an earlier jury verdict returned in favor of Cornell from $184 million to approximately $53 million.
HP will be increasing its reserve to reflect the latest developments in the case and expects to record a 1 to 2 cent charge to second quarter fiscal year 2009 earnings per share (EPS). After a review of the preliminary financial results of the first two months of this fiscal quarter, HP’s second quarter FY09 EPS outlook remains unchanged excluding this one-time charge.
The patent dispute between HP and Cornell relates to allegations that HP’s PA-8000 family of microprocessors, and servers and workstations incorporating those processors, infringed a patent that describes a way of executing microprocessor instructions. The patent in the litigation expired on February 21, 2006, and therefore the litigation will not affect future sales of HP products.
HP, the world’s largest technology company, simplifies the technology experience for consumers and businesses with a portfolio that spans printing, personal computing, software, services and IT infrastructure. More information about HP (NYSE: HPQ) is available at http://www.hp.com.
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