Ailing computer maker Gateway yesterday reported fourth-quarter net income of $5.1 million, or two cents per share, on revenues of $1.1 billion.< p>
A company spokesman said Gateway will cut 2,250 jobs from its retail division and close 19 stores.
The two cents was ahead of expectations of a one cent earnings per share, but it is still down from the 16 cents per share profit the company reported in the same quarter last year.
"We said we'd return to profitability in the fourth quarter and we did," said chairman Mr Ted Waitt.
The company has been laying off employees and closing its international operations to contain costs at a time when computer sales generally have been in a slump.
Gateway announced last year it would exit most of its European markets and cut jobs in the United States as well as close its operation in Ireland after losing $520 million in the third quarter.