An audit of Foxconn (HNHPF) by the Fair Labor Association (FLA) has revealed that the company had “serious and pressing” violations of China’s labor laws. Foxconn, the largest maker of Apple’s (AAPL) iPads as well as electronics for Dell (DELL) and Hewlett Packard (HPQ). Apple joined the Fair Labor Association after worker suicides earlier this year resulted in bad publicity for the company. The FLA assessors discovered that Foxconn workers were working longer hours and in more consecutive days than was permissible under Chinese law. The result has been that Foxconn has promised to reduce hours for its workers without reducing pay, something that may increase the costs of some consumer electronics in the United States.
“We appreciate the work the FLA has done to assess conditions at Foxconn and we fully support their recommendations,” Apple said in an e-mailed statement. “Empowering workers and helping them understand their rights is essential.”
Indian Market Share for Printers Slips for HP
Hewlett Packard got bad news Thursday when it was revealed that the company lost ground in India for its printer business in the fourth quarter. Hewlett Packard lost some 10.3 percent of its sales for Indian Printers, outpacing the 5.9 percent fall of total printer sales in the country. On the whole, Hewlett Packard has now fallen from 55.7 percent of the market in India to 53.0 percent. Hewlett Packard also recently saw similar decreases in server shipments to the Middle East and Africa.
TIBCO Software (TIBX) Shows Increase in Earnings
TIBCO Software’s first quarter of 2012 showed strong earnings, including a 25 percent increase in earnings and a 22 percent jump in revenue year-over-year. The Palo Alto, CA-based maker of middleware and infrastructure software had a total revenue for the first quarter of $225.7 million and a net income of $20.6 million.
“Once again this year, we got off to a very strong start with 22% total revenue growth in the quarter,” said Vivek Ranadivé, TIBCO’s chairman and CEO. “Our innovation leadership, real-time DNA, and enterprise experience in the world’s most demanding environments are all coming together at a very exciting time in the marketplace. Our infrastructure software platform positions us well as a beneficiary of the most powerful technology trends of our time: big data, cloud, social and mobility. So, any company looking to meaningfully grow its revenue, improve its operational efficiency or manage risk and fraud should be talking to TIBCO about becoming event-driven and achieving its Two-Second Advantage.”
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