Hewlett Packard, the world’s largest printer manufacturer has posted profits after six consecutive quarters which resulted in considerable losses. And, we hear that the company’s recorded revenue has fallen by a considerate amount.

The company which sells printers, LaserJet cartridges, PCs amongst other devices is said to have taken a path of cost cutting. They have reduced the resource head count in all countries they operate from, tightened the screws on their expenses and have not come out with many new products, which in turn adds to development and marketing costs.

This is evident by the 14% profits despite losing revenue by as much as 12% compared to Q3 ’08. But, there is a saturation point to cutting costs, and HP knows that it needs to buck up in the coming quarters to see themselves comfortably placed. The acquisition of Electronic Data Systems (EDS) has added onto the profits as well.

Market analysts generally use HP figures as benchmark for comparison with other companies in this space and it will be interesting to see, how others companies fare in the coming days.