Reporting almost half a billion dollars (AUD) in losses over the past three years, iTnews has told us that "with its latest financial results revealing the company does not expect things to look up any time soon."
With a $152 million AU loss in its 2014 financial year ending October 2014, this follows a greater $270 million loss in fiscal 2013 and a $58 million loss in 2012. If you're wondering if things were ever looking up for HP, they did post a $134 million profit in 2011 - but this has now all been blown away.
After writing off $161 million in deferred tax assets in 2014, they were hit with a $165.9 million tax bill. As explained to us, a company will generally undergo this process when they don't expect to make a profit in the next few years.
Looking on the brighter side of things, their revenue did grow slightly to $3.6 billion in fiscal 2013 from $3.3 billion posted previously, however, their costs were raised from $3.4 billion to $3.8 billion - reportedly due to increased cost of inventory.