i'm also seeing that psg, the pc group revenue is down 15% year over year. but i really need to dig in a little bit more here to break out the segment numbers. it looks like the server business is at about $8.6 billion. that looks like a good number based on how you would expect that business to hold up. i want to look more at ipg and some of the other businesses, bill. >> do that, as the stock comes off a low here. dug a hole at the beginning of the after-hours session, now down 2.5%. lewis, initial thoughts here? the bottom line number is a beat so far it looks like. >> sure. i think they brought the expectations down tremendously. i think what the investor wants to see is top line growth again. you can cut a lot of businesses in and get margins higher. until you grow revenue again, i think you'll get a lot of investors waiting on the sideline. >> dan, what kind of pc market do you think they're going to be outlining? >> the message from del was, this is a sluggish pc market. >> it's interesting, because lanova had a great quarter in laptops, and what was

i'll skip our speaker for a moment and we have patty gilio, psg of communications and a speaker committee member event organizer. david silverberg, editor, homeland security today, jerry rinsky, washington bureau chief, the buffalo news and former npc president, irv chapman, bloomberg and mark romandi, director of communications, washington, d.c. harris corporation and former spokesperson for u.s. immigration and custom enforcement. i thank all of you for joining us today. [applause] >> today i am very pleased to welcome our featured speaker, secretary of the united states department of homeland security, janet napolitano. as secretary of the department of homeland security, napolitano leads our nation's collective efforts to secure the country from both terrorism threats and natural disasters. today she will deliver her second annual state of america's homeland security address. as just a third person in history to hold this position, secretary napolitano overseas the department with an evolving and wide-ranging mission and coordinates the government's responses to an increasingly comple

psg, personal systems group, which is obviously computers, as well as software. you know, software is their achilles heel, only 4% of their total revenues. we think it can grow close to double digits sequentially driven by a recent acquisition that they made of autonomy. we think the setup is much better. we're going to reiterate the buy in hp, and the neutral in dell. >> shares have outperformed hp, that,year-to-date. what's the risk to the positive scenario that you see? >> well i think the risk is, if they don't really make any progress throughout the year, i mean they've already guided to year over year revenue decline for every quarter this year so the expectation is for obviously no revenue growth or obviously the opposite for revenue decline. if margins really fall off a cliff, then it's going to be difficult to maintain that $4 as kind of a base floor for the year. i think that's the real key to track margins, you know, we do think that the bottom in this quarter tonight, and i think they will expand going forward in every quarter throughout the next fisc

>> well, remember, that's behind the big declines in psg. listen, i think psg's going to have a better quarter in q2. we've still got some rebuilding to do. we are not where we want to be in china which is a very important market. so we still have some challenges in that business. but i think you'll see a better quarter in q2 for our pc division. our other challenge, of course, is in servers where we will not be through the hard disk drive challenge in q2. we've got more work to do there. we've got to match demand and supply. we've got to sell servers that we have disk drives for. that's going to be an industry wide issue i think continuing through q2. we've got to battle through that. then our other businesses have challenges that don't obviously relate to the hard disk drive. they've got their own set of challenges around price competitiveness, channel invento inventory, that i think will be better in q2. we've still got some -- a lot of work to do here. >> on the printing business, meg, quoting one analyst from goldman sachs he said in a