
By John Oates
Published: 22 July 1998 13:40 GMT
Hewlett-Packard (HP) has warned investors of lower than expected profits for its third quarter. The company blamed the Asian crisis and "new signs of economic uncertainty elsewhere". It predicted revenue growth in single figures, based on sales figures for May and June.
This comes as HP has been accused of smuggling IT equipment into the US. Customs officials are investigating allegations that the company brought $6m of kit into the country without paying required import tax and duty. HP is blaming Artesyn Solutions - one of its distributors.
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