“Wayne Inouye, CEO of Gateway since its merger with eMachines two years ago, has resigned as the company focuses on building up its direct sales to consumers and to professional markets,” Dawn Kawamoto reports for CNET News. “Inouye, who became Gateway CEO after the March 2004 acquisition of budget PC maker eMachines, also stepped down as a Gateway director. He will, however, serve as a company adviser during the transition.”
“In the fourth quarter, Gateway reported a mixed financial performance. The company sold nearly 1.36 million PCs during the three-month period, up 13 percent from the year-earlier period. The gains, in part due to its retail performance, made Gateway the second-fastest-growing PC company in the U.S. year over year, according to IDC,” Kawamoto reports. “But revenue from its direct-sales efforts fell 39 percent in the fourth quarter, to $115 million, compared with a year earlier. That was attributed to failed marketing efforts to drive sales and the discontinuance of consumer electronics… the company’s stock has fallen nearly 64 percent since it traded at nearly $7 a share in late 2004. Gateway shares closed at $2.51 in regular trading Wednesday.
Full article here.
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Beleaguered Gateway on the ropes, Gartner says PC industry due for shakeout – August 23, 2005
Beleaguered Gateway shares plunge on weak outlook – August 16, 2005
Beleaguered Gateway announces ‘iPod Photo killer’ (with image) – October 28, 2004
Beleaguered Gateway launches ‘iMac G5 killer’ – September 21, 2004
Beleaguered Gateway to ditch consumer electronics to focus on PC box assembly – September 13, 2004
Beleaguered Gateway cuts another 1,500 jobs; has cut 22,600 jobs in last four years – April 30, 2004
Beleaguered Gateway grinds up customer and spits him out unsatisfied – April 02, 2004
Beleaguered Gateway closes all retail stores; Apple poised to open 77th outlet – April 01, 2004
Beleaguered Gateway to axe over 2,000 jobs in next few months – March 03, 2004
Beleaguered Gateway to buy eMachines; combo could be 3rd largest Wintel box assembler – January 31, 2004
Beleaguered Gateway cuts more jobs; closes Virginia manufacturing plant – September 03, 2003
Beleaguered Gateway puts on a happy face – December 16, 2002
Beleaguered Gateway desperately circling the drain – September 25, 2002