Gateway ( GTW) still expects to meet Wall Street's revenue and earnings forecasts for the rest of the 2003, the company's chief financial officer said Thursday, according to a published report. The company's chief financial officer, Rod Sherwood, told Reuters in an interview that "things are on track." At a meeting with analysts earlier this month, Gateway said it agreed with analysts' consensus forecasts for the remaining quarters of 2003 and said it expected to reach $400 million in annualized savings, according to the report. Analysts polled by Thomson First Call expect Gateway to lose 27 cents in the second quarter, 19 cents in the third quarter and 9 cents in the fourth quarter. For the year, analysts are looking for a loss of 93 cents. Separately, Reuters reported that Gateway's CEO Ted Waitt has no plans to take the company private through a management-led buyout. Waitt also said the company's turnaround plan is on track. Additionally, The Wall Street Journal reported Friday that Gateway plans to sell personal computers through RadioShack of Canada, the first major expansion of its retailing efforts in two years.
A couple of weeks ago , Gateway revealed that the Justice Department is examining its accounting practices. The Securities and Exchange Commission has been investigating the PC maker's accounting for more than two years. Shares of Gateway ended New York Stock Exchange trading Thursday at $3.29.