Compaq Computer’s Income Leaps 43%

Compaq Computer Corp., citing success with its new low-cost strategy, said its second-quarter earnings jumped 43% from the period a year ago.

Income totaled $29 million, or 35 cents a share, compared to $20 million, or 23 cents, in 1991.

Earnings benefited from an after-tax contribution of $6.5 million from the company’s equity interest in Conner Peripherals Inc.

Sales for the quarter ending June 30 were $827 million, a 15% increase from sales of $718 million a year ago.

The Houston personal computer maker embarked on a low-cost path this year in an effort to improve results in an increasingly competitive market.